Americas Oil Problem Essay -- American Economy, Oil Industry

The coupled States is in a recession and depends on foreigners to fuel our country. cover companies are taking advantage of the power they have over petrol hurts and the economic system is at one of the lowest points in all of our history. It house be seen that the way things are going now that change necessarily to occur for the States to get back on its feet. Drastic changes depart need to happen if we are going to play along to enjoy upkeep in a very advanced and prominent country. By exploitation proper offshore drilling techniques, and alternate energy, America could eliminate debt and change magnitude dependence on foreign anele.As it stands, oil companies have a firm grasp of the American economy. As the price of oil increases, the price of living also increases. Not only that, but they are acquiring away with paying dues they owe. Oil companies have escaped more than 60 cardion dollars in royalties because of a loophole to get access to more leases. The United S tates is the third largest producer of oil in the world, and 31 percent of that output signal comes from land owned by the federal government (Offshore Drilling leave Enrich Big Oil Companies 2). America maintains this title even though Americas crude oil productivity has decreased since 1985 (Crude Oil Production 1). Currently, oil is becoming more expensive and damaging the economy while America is becoming more dependent on foreign oil fall productivity and narrowing offshore drilling. The oil industry is making an massive realize. Oil companies that secured leases in 1998 and 1999 havent been paying royalties, even though a bill signed in November of 1995 required royalties to be paid in similarity to the oil profit made. An example of a company profiting because of this is West Texas Inte... ...ational security. As voters, and future voters, we need to vote for candidates that understand the colossal importance of using renewable energy and offshore drilling to start a retrieval of the economy and keep America as a power figure. It impart cost billions of dollars for research and perfecting offshore drilling, but it is a long-term investing that will have an enormous payout. If America was to fail in choice energy research and offshore drilling have multiple spills the worse that could happen is we go farther into debt. The country is already trillions deep into debt. pickings a risk and finding other ways to generate profit is how we will stimulate growth. The future is here. Fossil fuels will not conclusion forever. If America leads the charge into the renewable energy field we can continue to be a very powerful nation and get the economy back on track.