Crude Oil Prices – Soaring Sky High and Still Going
In our modern and industrialized world, no one can escape oil—and no one can escape its soaring prices. From vehicles to industry machines, oil is needed to run the gamut of everything that needs to be run to make the world function properly. Okay, that might be a bit overboard, but it perfectly exemplifies how dependent the world is to crude oil and crude oil prices.
Economies of some third world countries at times rise and fall entirely or mostly dependent on black gold. Crude oil prices that affect industries and economies is in turn affected by global or international event’s, such as the more recent conflict in Gaza that dictated yet another price hike lately. It’s a wavy ride, one that countries can’t afford to lose sight of.
Crude oil prices, or the price of petroleum, depend on geographic, political, economic, and quality factors that all play into one mesh that then gives the basis for how much a barrel of oil sells for. At the receiving end, normal citizens get to gripe about it but in actuality can do nothing but go with the flow. Such fluctuations in the price of precious oil can at times lead to depression in a financial system and a crash in an economic area. That said, world leaders and international communities always get involved when it come to one of Earth’s most precious and poisonous commodities.
It’s fascinating to think that when oil reserves finally run out, it would be refreshing in that our dependency to oil would be cut short, but also frightening in the sense that resource wars could even happen in the absence of it. Taking everything into consideration, it would be best to end our oil hungry trend before we run out of it.
It would cost the equivalent of 60 cents per gallon to charge and drive an electric car. The electricity to charge the car could come from solar or wind generated electricity. If all gasoline cars, trucks, and SUV’s instead had plug-in electric drive trains, the amount of electricity needed to replace gasoline is about equal to the estimated wind energy potential of the state of North Dakota. Oil is finite. We are using it globally at the rate of 2 X faster than new oil is being discovered. India and China are expected to put 3 million more vehicles on their highways within the next 20 years. We have so much available to us , wind, solar, hybrid technology and bio fuels. We need to invest in America. We need to get on with becoming an energy independent nation. http://www.themanhattanprojectof2009.com