economics of the world
I was reading some articles on Truthout today, some about the Roberts Supreme Court nomination and others about the hurricane and about how badly people think the government is handling it and about all the problems etc. Then I found this article from the Independent U.K. about Katrina’s effects on US Oil production. Obviously oil rigs have been damaged and destroyed; some have floated away, some are in pieces, and others are leaking millions of gallons daily into the Gulf and Mississippi River. Besides having an effect on the US prices and oil production (oil prices have obviously risen dramatically), this is having a serious effect on prices all over the world. The growing demand for oil in China and the United States over the past few years along with the knowledge of an eventual running out of supply has forced prices up over the past few years. Coupled with the supply shock of hurricane Katrina, there are massive global economic consequences. Prices all over the world are going up because of a limited supply and a daily increasing demand. The Gulf of Mexico produces about 25% of the US oil supply and the majority of that 25% is no longer available. Although this is reversible and the economy will begin to recover dramatically when rebuilding etc. starts, what’s going to happen in 10 years when we really do start to run out of oil, when we’ve exhausted all of our supplies and are past the point where it is cheap to extract it and it is actually attainable? What will happen to the economy? The US can’t survive without cars; the majority of the country is designed for car traffic and public transportation is lacking. Were public transportation to be more prominent this wouldn’t be so much of an issue because we wouldn’t be consuming as much oil and energy. Also, the government is under funding research for alternative sources of energy. Many people are blatantly ignoring the problem and drive SUV’s that get less than 9 miles to the gallon. This is ridiculous. I don’t care whether you’re liberal or conservative, oil is not the future of this nation, or of the world. Eventually we are going to have to find some other energy source. That’s just the way it is going to be.http://www.truthout.org/issues_05/090205EA.shtml
for some interesting and more educated reading on the subject.
posted by kellyisdelightful @ 2:00 PM
3 Comments:
At least here's one good thing:
If Ah-nold passes the bill in CA allowing gay marriage Bush can't do anything about it, then all the gay people in American will flock to CA to get married and their marriage will have to be upheld in other states because of that clause we learned in government last year and then the gay people won't be oppressed anymore. And we'll make cars that run on air so that we'll never run out of gas and never have to worry about stupid gas prices again. Or else all of the cars in the world just won't work one day and everyone will have to start taking bikes to work, lessening obesity and air pollution and thereby diminishing the hole in the ozone layer and global warming.
At least that's the way it works in my mind.
Hope TCU is treating you well.
hahahaha pam thanks...its nice to think about
It's terrible what the hurricane has done and I agree with you that things need to be done so that we conserve what we have. My family is one to talk about SUV's and cars seeing that my suv is the smallest thing we drive. I still get decent mileage but I guess i'm not doing my part. I agree that eventually oil and gas will run out and they are not the future of the economy, but there are those people who still survive off its prodcution. Some people like me. Right now natural gas is what is feeding my family and I am thankful for it.
alas, another time when I see both sides of the coin....
Mal~
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