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oil, oil, everywhere
Written by greeniac108389   
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Wednesday, 04 January 2012
Well look at what we have here... irans thinking of shutting down the most important stretch of water in the world which would simultaneously crash its entire economy. Why? Because of our addiction to oil. It's really great stuff- easily transportable, can fill up the tank super quick, and it burns relatively efficiently- at least compared to the alternatives. With the news of the potential showdown (seems like this should be made into a video game), there are lots of articles out there highlighting the various gasoline prices and who has what oil and blah de blah. Some interesting tidbits- the US gasoline demand is at its lowest levels in about a decade, and in recent weeks we've seen it reach its lowest stretch in 7 years. But perhaps an even bigger eye-opener is the news that the US is actually a net fuel EXPORTER. What does this mean? That we import 9 million barrels a day of oil (out of about 19 million used daily), and then refine it into jet fuel, diesel, and gasoline, and ship it back to the rest of the world. Talk about modern day efficiencies! On the bright side, at least its creating jobs- thanks to EPA regulations (http://www.theatlantic.com/business/archive/2012/01/how-did-america-become-a-net-fuel-exporter-thank-the-epa/250857/). What does this mean? I'm not real sure. Part of me wants to see the gasoline demand as a sign that investments in public transit and bicycling and people's desires to stay-cation are paying off. But perhaps more realistically, it's just simple economics- the price of gas is frankly really high. But it's still nowhere near its true cost. So perhaps financial indicators are the best and most efficient way- gas tax, cap and trade, what have you. And what do you know? Perhaps these regulations could be a job creator too, just as we now export oil, we could begin to export electric cars, solar farms, and wind! Whew! That'd be neat.


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