The Crude Awake: US and World Oil Market

Cite this

In the year 1973, oil accounted for 46 percent of the world’s total energy. By the year 2005, its share had heavily declined by 35 percent. Basically, Oil is the blood of the Earth. For over 100 years, the United States has been the leading oil manufacturer in the Diaspora. Oil is now a key thespian in the ever-overlapping dominions of business, technology, and geopolitics. Matt Simmons, Energy Advisor for the Bush Administration stated, “98% of all transport energy is provided oil. 70% of oil is refined into transport fuels, which include gasoline, diesel fuel, jet fuel, railroad fuel, and maritime fuel. For every calorie ‘eaten’ in the U.S., 10 calories of hydrocarbon energy is required” (“Crude Awakening” par. 5).

Cut 15% OFF your first order
We’ll deliver a custom International Trade paper tailored to your requirements with a good discount
Use discount
322 specialists online

Oil is a magnet for war. It intensifies war. Oil is the reason for many conflicts in very many countries. For instance, Vietnam has a long seacoast. China always tries to occupy the ocean along the seacoast and always stops the fishermen from fishing in the same ocean.

It is also a link to the oil supplies of the United States of America from the Middle East. In the film, The Crude Awake, the government of Iraq moves people from the North to the South in order to occupy the source of the oil. Nations try as much as possible to be dependent on oil as their sole source of energy. They do this by engaging in the use of alternative sources of energy. However, the expense of alternative sources of energy is high, they are inefficient and complicated. Harnessing the wind, for example, require a completely open area that is far from the city in order to prevent noise from bothering a country’s population.

Hydrogen is a very efficient source of energy. However, hydrogen requires the construction of very expensive facilities and equipment to produce it. The production of hydrogen dictates the employment rate of highly skilled personnel. One barrel of oil is equivalent to 25,000 person-hours. In addition, solar energy is also a very efficient and reliable source of energy. But it is very expensive to establish. Expense is the actual reason why people still depend on oil as a source of energy.

Some of the highest oil-producing countries in the film include China. It is the leading, according to the film, with 3.63 million BOPD. This is higher than the United Arab Emirates, which is at 2.45 million BOPD. Probing the history of oil, the United States of America declined nearly by 4 million BOPD in 2005 (5.18 million) compared to the year 1970, which was at 9.66 million.

Oil is the most used source of fuel in the world. Its availability is widespread all over the world. Countries that have oil enjoy a greater advantage in trade. This is because its demand keeps rising with the expansion of the manufacturing industries in the world. The USA is a giant nation in the oil trade zone. It enjoys the possession of the largest oil region; it has gained a lot of income from oil.

On-Time Delivery!
Get your customised and 100% plagiarism-free paper done in as little as 3 hours
Let’s start
322 specialists online

Oil is a nonrenewable source of energy. This suggests that it is very important that alternative sources of energy be employed. The process of converting oil into energy releases dangerous effluents into the atmosphere. These effluents affect climate in the long run. Manufacturing companies all over the world should start using cleaner fuel. Clean fuels include solar energy, hydroelectricity and wind.

Works Cited

“Crude Awakening.” Mammoth resource partners. Web. 2012.

Cite this paper

Select style

Reference

DemoEssays. (2022, April 18). The Crude Awake: US and World Oil Market. Retrieved from https://demoessays.com/the-crude-awake-us-and-world-oil-market/

Reference

DemoEssays. (2022, April 18). The Crude Awake: US and World Oil Market. https://demoessays.com/the-crude-awake-us-and-world-oil-market/

Work Cited

"The Crude Awake: US and World Oil Market." DemoEssays, 18 Apr. 2022, demoessays.com/the-crude-awake-us-and-world-oil-market/.

References

DemoEssays. (2022) 'The Crude Awake: US and World Oil Market'. 18 April.

References

DemoEssays. 2022. "The Crude Awake: US and World Oil Market." April 18, 2022. https://demoessays.com/the-crude-awake-us-and-world-oil-market/.

1. DemoEssays. "The Crude Awake: US and World Oil Market." April 18, 2022. https://demoessays.com/the-crude-awake-us-and-world-oil-market/.


Bibliography


DemoEssays. "The Crude Awake: US and World Oil Market." April 18, 2022. https://demoessays.com/the-crude-awake-us-and-world-oil-market/.