Image from Encyclopedia Britanica
With the rising gas prices, many people are beginning to wonder why gas is so expensive. In order to find out the reason for this, we have to go back a little in time. When OPEC (Organization of the Petroleum Exporting Countries) was established, it was a way for foreign countries put a set price on what the cost of oil should be. This creates many problems because we are a large consumer of oil and we are willing to pay a lot of money in order to get that oil. A solution to this problem is tapping into our large oil reserves. The United States sits atop one of the largest untapped oil reserves in the world. With and estimated volume of 2.3 trillion barrels of oil many people believe that it is the solution to our ongoing oil crisis. Many experts say that if we are to tap into our oil reserves, it can be a solution to help us get out of our economic crisis. It makes sense that we would want to drill on our own soil because then we are making ourselves rich rather than middle eastern countries that are taxing the heck out of our oil. But what the current administration would rather do is go overseas to countries like brazil, which have recently found plenty of oil along its coasts, and ask them to be our top buyer of their oil.
Drilling for oil has become a very profitable income for many families. The average income of a drill worker in $51,000 a year. If we are to open up drilling facilities, it would be very beneficial to our economy. If we don't act soon, we are likely to see a price up to $5 for a gallon of gas. By drilling on our vast oil reserves, we will be able to keep prices low for our middle to lower class family who need every dollar that they take in.Whats is your opinion on drilling in America?
I enjoyed reading your post since I did not previously know about the large oil reserves that the United States currently has. However, it left me wondering how much prices of oil will actually go down if we drill domestic oil, since I have heard elsewhere that much of the oil prices is dependent on politics.
ReplyDeleteI agree that it would make sense for us to tap into that oil reserve, however, there has to be some reason that we aren't aware of that is stopping the government from doing so. It makes too much sense for the government to just not use it. You should do some further research and find some reasons why the government is choosing to not use it.
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