Oil is not called black gold without reason. All world economies exist on oil. Without oil, business and industries come to a stop, prices of basic commodities escalate, and life as we know it changes drastically. However, oil is a finite resource and the time has come to reap the results of decades of exploitation and lack of forethought.
Green house emissions from the combustion of gas have raised pollution levels, depleted the ozone layer, and led to global warming – a hard truth that is making itself felt as countries across the planet bear the brunt of unseasonal rains, record breaking temperatures, droughts, fires, and floods. Medical problems due to rising pollution levels have also reached alarming proportions.
China has launched a planned acquisition of oil reserves in countries across the world. The Middle East is in a strong position to negotiate and it is thriving on the continuous revenue that spins out of its oil reserves. Cutthroat competition will soon make oil prices exorbitant and unaffordable to the common person. Coupled with the dwindling supply of oil, the future situation spells disaster unless alternative energy sources are tapped.
USA is one of the biggest gas guzzlers of the world, depending heavily on Middle East oil reserves to drive its economy. This is unfortunate as the U.S. has the potential and the reserves to use natural gas as commercial and domestic fuel. A report indicates that the U.S. has almost two quadrillion cubic feet of natural gas reserves. Advanced technology and drilling techniques have made it possible to recover natural gas from the huge shale fields of Texas, Arkansas, Louisiana, and Appalachia. What s more, natural gas cuts carbon dioxide emissions by 30 and is much cheaper than oil.
In 2006, President George W Bush referred to America s dependence on imported oil as a serious problem . He advocated funding of clean energy research, nuclear energy and renewable energy. President Obama is also talking about reducing foreign oil dependence in the next ten years as it is damaging to the climate and also a security threat .
We know the problem and we know the solution – renewable energy. The challenge is to make the solution commercially viable so that it is accepted across the nation and that too, soon. Far thinking earth friendly industries and businesses are already harnessing solar energy commercially and exploring other options such as natural gas, biomass, wind, and nuclear energy to cut down oil consumption. I know a lot of you would be against nuclear energy. I believe if we use enough safety measure in the plants and while disposing off the waste, nuclear energy could be one of the most economical and readily available energy source to the world.
A lot of damage has already been done and we cannot reverse it. What we can do is break the oil addiction by moving to renewable energy. No more politicizing. No more procrastination. It is time for action now. Immediate steps are required at federal and individual levels to build sustainable businesses and economies.
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