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History of Oil in the U.S.
America is, as our President recently announced, “addicted to oil”. Petroleum was first discovered, for industrial purposes, in the U.S. in the late 1850’s and utilization exploded with the advent of the automobile. Petroleum has permeated our economy and society. Transportation, heating, agriculture, packaging, plastics, fibers, detergents, communications, community are but a few of the many sectors. Our entire economy, unfortunately, has been tied to petroleum, a finite, and increasingly difficult to extract, resource.

Consumption
The U.S. represents 5% of the world population and uses 20 million barrels of oil per day to drive our economic engine and society, much of which is imported. This equates to approx. 25% of the world supply of oil. Competition for remaining petroleum reserves is increasing (China is forecasted to surpass the U.S. in the near future) and those countries with the greatest proven reserves are, in many cases, unfriendly or uneasy allies to the U.S.

Global Issues
Carbon dioxide (CO2) and particulate matter, released during the combustion of petroleum, is, at the current rates, dramatically changing the planet’s complex climate and ecosystems. Air quality, respiratory and pollution problems are well documented; global warming and global dimming now have a preponderance of evidence to support the position that major climate changes are now underway. Europe and Brazil have already begun the process of moving from petroleum to Biofuels; the U.S. is well behind the curve.

What’s The Real Cost of Oil?
A lot more than we are paying at the pump and a lot more than you might think.


 
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