The Dangers of Oil Dependency
For quite some time, there has been a U.S. trade deficit. A key part of that deficit is rising oil imports, widening the gap between our exports and imports. In fact, it is estimated that the U.S. spends approximately $1 billion dollars per day on oil overseas that could be used to fund initiatives at home. In addition to exacerbating global warming, massive oil importations fuel dangerous and unstable governments whose economies depend on oil. Furthermore, big oil companies continue to profit off of this dangerous commodity.
In terms of approximations, the U.S. imports a large chunk of their oil from countries that are dangerous and unstable. Our huge demand for oil from foreign countries ends up increasing the price of oil on the global market, benefiting countries, such as Iran, that produce oil and do not sell to us. Oftentimes, the regimes and elites of these nations benefit from selling oil rather than splitting the revenue among their people, increasing economic disparity in those countries.
On the other hand, America's hunger for oil continues to contribute to climate change. One of the largest sources of greenhouse gas emissions is oil, making it a major contributor to global warming. Due to increasing frequent natural disasters, food/water shortages, and higher prevalence of disease as a result of climate change, there are more emergencies that are harming many people. By leading to a more unstable world, oil has caused many military and intelligence experts to recognize the need to address the environmental, political, military, and social threats that we currently face.
Another issue with our dependence on oil is that fact that giant oil companies continue to profit off of the status quo. Many of these corporations have the resources to lobby for increasing American energy independence. As a result of their actions, these companies profit from buying oil from dangerous countries such as Saudi Arabia, Iraq, Syria, and Algeria. Their efforts to block climate and clean-energy legislation continues to further impede action on climate change.
However, there is a solution. The answer of clean energy can help bring the economy back on track by lowering our dependence on oil. By adopting clean-energy and global warming pollution reduction policies, the United States could stimulate economic growth at a time when our economy is struggling. As opposed to sending money abroad to buy oil, the U.S. should invest in clean-energy technology, which would create jobs and boost the economy. With these actions, we can decrease our dangerous dependency on oil, which threatens global stability and peace.