American Oil Dependence Essay - 1667 Words

American Oil Dependence Since the oil embargo of 1977, there has been an increased awareness of our nations energy security. As global population and energy consumption rise, the need for a stable energy supply has become a hot topic and a politically volatile issue. As our negative trade balance grows larger by the day, the United States finds itself in a rather precarious position. We are becoming more and more dependent on Middle East oil. Indeed, the U.S. Department of Energy (DOE) predicts that domestic petroleum consumption will increase to 60 Btu by the year 2025. This statistic, in and of itself, is a matter of concern with respect to the greenhouse gas emissions that result from petroleum combustion. However,†¦show more content†¦al., 1998). Once this occurs, oil production will decrease until it is no longer economically feasible to extract remaining reserves. Why then, is there virtually no interest in promoting alternative fuel technology? It is inevitable that at some point, sooner or later, we will not be able to make use of petroleum as a major fuel. The American public, as a whole, doesnt seem to be too concerned with this. Even the government fails to recognize the precarious nature of our energy future. Our own Department of Energy envisions a steady rise in oil, coal, and natural gas consumption for the next 25 years. The same graph shows only a nominal increase in the use of renewable energy technology and a flat-lining of hydroelectric energy generation. There are several reasons why alternative energy is slow to catch on in our nation. One of the most compelling reasons is the unreasonably low cost of fossil. The government reaches this goal by widespread subsidies of certain industries. The oil industry alone is a recipient of around $8 billion in annual subsidies (Env. Adv. Stat., 2003). 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