T. Boone Pickens created the Pickens Plan with the intention of reducing the international use of oil. Pickens Plan states that by using natural gas in the place of oil, imported oil demands would drop by ⅓. The money saved from this plan would amount in the billions, which could then be used to repair the U.S.’s damaged economy. However, Pickens idea, like every alternative oil plan, has its flaws. If Pickens Plan was implemented, the U.S. would not solely be affected; the world and its economy would be shaken. The supply and demand of oil would fluctuate dangerously, as would its prices.
According to Rediff Business (2013), the United States is ranked number one in worldwide oil consumption. As of 2012, the U.S. was using 19,150,000 barrels
…show more content…
While this may seem like a clean, easy replacement for crude oil, energy from wind power is expensive to manufacture. According to Bastasch (2015), “new wind energy is 3 times costlier than existing coal power.” This price is not for the actual energy produced by wind, but the costs attributed to creating that energy. If the Pickens Plan was implemented, hundreds of coal-powered generators would be shut off and dozens of coal plants would be retired. Bastasch also explains that wind farms, which would replace these plants, cost triple the expense of coal plants to construct and run. Even after the constructions of countless wind farms, the energy produced in them would be double the cost of energy that the U.S. uses. Windustry (2012), a site that specializes in the production of wind turbines, states that wind turbines cost approximately three to eight thousand dollars apiece. The money required to construct these wind farms, which would have dozens of wind turbines, cannot be spared. Instead, using the money that would be invested into these wind farms, a newer, less costly alternative to oil could be …show more content…
Since the U.S. is such a prominent oil buyer from--as Corey Flintoff (2012) informs--countries such as Canada, Africa, Latin America, and others, a sudden cease of demand would rock the world’s economy. As of now, the U.S.’ demand of oil is at an equilibrium with the oil being supplied. If the U.S.’ demand of oil dropped dramatically, as Pickens Plan says it should, oil supplying countries would scramble to compensate for lost profits. In theory with the supply-and-demand model, the cost and supply of oil would skyrocket, while demand would be nonexistent. Since oil would be so costly, countries that purchase oil would be unable to afford it anymore, resulting in an even higher increase of prices and steeper decrease of consumers. With the loss of the U.S. as a consumer, the economies of these countries would suffer; this suffering would then spread worldwide, affecting everyone
In 2011, the United States consumed about 134 billion gallons1 (or 3.19 billion barrels2) of gasoline, a daily average of about 367.08 million gallons (8.74 million barrels). This was about 6% less than the record high of about 142.38 billion gallons (or 3.39 billion barrels) consumed in 2007,according to
Baseball is known as America’s favorite pastime. Any fan of baseball has heard the name Barry Bonds. Barry Bonds is one of the best baseball players of all time statistically. He leads the MLB in home runs in a single season (73), most career home runs (762), MVP awards (7), walks in a single season (232), and another 13 more records. Barry Bonds career was shrouded with a shadow. He was abusing steroids in the late 1990s and early 2000s. After winning 4 straight MVPs, and setting the single season record for homeruns, the MLB established the steroid and performance enhancing drugs bans. Barry Bonds was one of the athletes under investigation. Barry Bonds’ Steroid Scandal was a huge shock to the sport of baseball and the world of sports.
But what if the world were to suddenly cut off all trade to one another? Since I, Marisa have lived in the U.S. my whole life I, Marisa can only identify with the U.S. What would the U.S. lose if world trade would stop altogether? We would lose oil, sugar, and ect. But the U.S. is already facing that. According to “John Hofmeister, the former president of Shell Oil believes that American consumers will likely be paying 5 dollars for a gallon of gas by the time 2012 rolls around.”(Theeconomiccollapseblog.com, 2011) So will my employer pay me more if gas goes up like that? NO! But when prices for oil goes up it affects everything that has to be transported which means everything from clothes to food will go up. “So why is the price of oil going up so much? Well, of course there are speculators and of course the price of oil is highly manipulated, but one of the big reasons why oil is going up is because the U.S. dollar is losing value.” (Theeconomiccollapseblog.com, 2011) All of America’s basic things keeps going up as well to the point where we all will have to work in order to live.
Some people argue that decreasing the oil we use would harm the economies of countries like Venezuela that depend on America buying their oil. However, as third world countries grow and develop, they will also need fuel sources and the United States has no right to monopolize large portions of the available resources. Besides, it is not the responsibility of the United States to provide markets for all companies in the world. Markets come and go, and
In 2015, the world will face a vast amount of dilemmas; these dilemmas range from how someone is going to get their food to how they are going to cook. But the biggest dilemma of them all, is how they are going to continue to get energy to do everyday tasks. The most efficient resources are those of the nonrenewable variety. These nonrenewable resources include fossil fuels, such as coal, natural gas, and petroleum. Someday these resources will run out and will not be replenished for thousands of years. As of now, an overwhelming majority of the energy used in the world today is non-renewable. We, as civilized people, are so dependent on fossil fuels that we go through extraneous efforts to retrieve these properties. The world needs energy to function and sites that once contained vital resources are on the verge of depletion. It is inevitable that the world looks elsewhere for another resource to absorb the depleting reservoirs. One reservoir capable of withstanding the demand for oil are the tar sands located near Alberta, Canada. These tar sands are the third largest reservoir of crude oil in the world and are conveniently located just north of the United States border (About the Project). There is a wide spread debate on whether or not the crude oil produced from these tar sands should be transported via pipeline. With critical analysis of all point of views, it is without a doubt that the United States should cease their delay on
The average person In the u.s uses 3526 liters of petroleum per year. Experts predict that if not already oil will peak in the next 20 years .
Foreign oil dependency is a major topic that is hotly debated in US politics. The United States relies on imported oil for about 40% (in 2012) of petroleum consumed and is the world’s largest consumer of oil. About 53% of the foreign oil imported is from other Western nations such as Canada, Mexico and Brazil. 28% is from the Persian Gulf, 16% from Africa and the remaining from other areas of the world. Canada is currently the leading crude oil supplier to the US. Some believe that importing oil has benefits to our economy, while others believe it is a security threat.
“Madison’s attacks on Pinckney’s claims to authorship of at least parts of the Constitution were followed up by his admirers and subsequent generations of scholars. Pinckney, of course, was dead and could not defend himself.” This quote defines how James Madison sought to take greater credit for the Pinckney Plan, which was created by Charles Pinckney of South Carolina. Charles Pinckney claimed to have laid the foundation for the U.S. Constitution (through the Pinckney Plan), which formed a bicameral legislative organization of the future government that included a Senate and House. Historically, Pinckney claimed to be the youngest delegate at the Constitutional Conventions (later proven to not be true), yet Madison hid his notes of the Pinckney
The discussion that took place during week three focused broadly on comparing the differences in vision, personality and ideas of the primitive between Vincent Van Gogh and Paul Gauguin. These differences were investigated through their working relationship, as shown by their letters of correspondence, and the art each artist produced during this time. The group discussed comparisons between Van Gogh’s plan and almost obsession with making the Studio of the South work and Gauguin’s wanderlust that kept him moving. The ideal studio of both Gauguin and Van Gogh opened up discussion further to what aspects of the primitive each painter was influenced by in their attempted creation of a utopian working space. The readings from Childs and the
Senator Everett Dirksen once noted “The oilcan is mightier than the sword”. In today’s world, it is easy to see why oil can be considered the most important resource to hold. Without oil, many of the common day occurrences we take for granted would be impossible. Oil is used for almost everything; from the fuel used to drive our vehicles, to the plastics used in every facet of life, and providing the heat needed to live through the winter. In fact, the United States depends so much on oil that as a nation it uses over 20 million barrels a day. Importing oil increases the total costs because of the need to transport it from around the world. It is estimated
In fact, Jimmy Carter stated, “[America] is the most wasteful nation … use twice as much energy per person [than] Germany, Japan, and Sweden” (Carter, Primary Resources: Proposed Energy Policy, 1977). It was certainly a double-edged sword to many Americans since the environmental crisis was occurring at the same time were focused on conservations and cleanup efforts and to reduce oil drilling, meanwhile oil supply was almost nonexistent and being used so carelessly that it became an inevitable to drill for more oil. The dependence on oil is evident in a graph where in the late 1970s, petroleum energy consumption is nearly at 40 quadrillion Btu, and natural gas was at 20 quadrillion Btu (07 Environment-Oil Crisis Readings.pdf). Alternative energy sources were considered, but these sources were just as dangerous, if not worse to produce, due to their cost and power per unit. In fact, it was a talking point in Carter’s televised speech to seek for more alternative resources, use the most of what was left, and “apply stricter safety standards to nuclear energy” after the nuclear accident at Three Mile Island (Carter, Primary Resources: Proposed Energy Policy,
The investigations External Validity can be slightly generalised beyond this study. The big 5 test has been Standardised which means it has been proven to test openness to experience which increases Validity. The musical preferences may change depending on the sample size which could have given lower validity. External Validity is limited due to the unrepresentative sample
The U.S. Energy Information Administration (2015) reports that the United States consumed approximately 19.4 million barrels of petroleum products daily, which calculated to an overall total of 7.08 billion barrels by the end of 2015 (para. 2). The United States population consumes a huge quantity of oil alone, in addition to all of the other fossil fuels that it also greatly depends on. Fossil fuels are a natural resource that is in limited supply, and they provide an efficient and consistent supply of power to communities all over the planet. Many people are pleased with the short-term advantages these
Because private companies and nations have over-estimated oil reserves it is difficult to be exact but these estimates of world oil reserves are close and further research will reflect this. Also, rapid exploitation may have damaged many reserves' wells and will limit production. It may be that we (the world) have much less than is believed! The United States past its "peak oil" point back in the early 1970's ( for further research refer to Peak Oil Crisis Books) and now imports about two-thirds (2/3) of its oil. The U.S. economy and the current American way of life is supported by energy from other nations. Those nations that have not already past peak oil (maximum production) are very near it. In the future, production will decrease while at the same time demand increases. The spread between supply and demand will cause higher prices (for all products),
The consumption of the oil cause changes in the supply and demand. The United States produces 11 million barrels of oil every day. We are one of the biggest countries to have a big influence on the production and prices of the oil. The basic supply and demand theory explains that the if a product is produced more, the cheaper it should sell. If a country were to double the output of oil day, prices would fall and the Production is high, but the distribution of oil isn’t keeping up with the market. The United States builds an average of one oil refinery per 10 years. This is a net loss due to the fact construction has slowed down since 1970s. Since 1970s, the United States has 8 less oil refineries today. The reason why we are not oversupplied with cheap oil is because of the other countries’ higher net margin and the only operate at 62% of their capacity. Excess capacity is only there to meet future demand. With demand moving accordingly, oil prices will continue to be set mostly by the market — despite external players’ best efforts. (McFarlane)