Anyone who has filled up at the pumps the last couple days knows that the price of oil has again hit record highs. The cost per barrel is currently at an astonishing $110. Very few people would argue that we are nearing a very serious oil crisis but you would never be able to tell by the way we as Americans are reacting to it. You would never know there is any concern by the way that Americas highways are crowded with gas guzzling SUVs and flashy sports cars.
I believe that oil is still inexpensive enough for most Americans to even consider conserving at this time; a gallon of gasoline is still less than a bottle of water in most cases.
Imagine a time when availability is no more.
In an article for National Geographic, Tim Appenzeller, stated that the end of this cheap energy source is coming to an end. Oil is becoming harder and harder to drill and many companies see the exploration as a money and life risking gamble they are unwilling to make.
http://ngm.nationalgeographic.com/ngm/0406/feature5/
Oil field service companies are doing the majority of the new technology research as well as the new exploration, while Big Oil sits back and reinvests in their own companies to assure tighter hold on their current reserves. There's been speculation that the Big Oil companies have stopped spending money looking for new oil, since there's not much left, and they wouldn't be able to control it as in the good old days.
With current wells drying up and less money going back into the development of cheap energy, we are surely close to the end of this easily accessible energy. I fear that it will take much more than just these definite warning signs to get us to cut back on our consumption. The end of our dependence is no where in site.
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3 comments:
Just did a little research and thought this was funny. There is 128 ounces in a gallon, gas is currently about $3.20/ gallon. Bottled water in 20 oz. bottles cost about .99 cents each. That means bottled water is about $6.40 a gallon, thus 2x as much as gas. That is funny to me...
Ben and Jerry's Ice cream is about $5 a pint and there are 8 pints in a gallon, therfore ben and jerry's ice cream costs $40 a gallon - $40 A GALLON?! That's 12.5x more than gas. That is completely redonkulous to me!!!
I think the increases in the price of oil is legitimatly due to a decreased supply and increased demand. Although this increase in price may not yet be enough to make consumers start considering alternative energy and conservation. It at least makes them think twice before they get in their high performance 4X4 extra large truck to drive to office and work in a cubicle everyday. Eventually the price will be high enough that conservation will be the only affordable method and alternative fuels will become more profitable and more common. Thus far, Environmental factors have not been enough to make people consider these options.
I just had to check blacktealeaf's math and it's OK. Another way to look at it shows that we pay 5 cents per ounze of water while we pay 2.5 cents per ounze of fuel. Oil has no really good substitues and it's a necessity for daily life. The media exaggerates the "pain at the pump" when talking about customer filling up their SUV's while in reality what's happening is that oil is making its way to become a luxury item.
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