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Essay / Offshore Drilling - 1502
The American economy relies largely on oil, as if it were the blood of the nation; a necessity for survival. In response to American support for Israel, Arab countries (OPEC) in the Middle East are limiting their oil exports to the United States. As a result, a decrease in oil supply caused gasoline prices to quadruple. As America attempted to promote alternative energy sources, oil companies expanded their search for offshore oil. About 25% of oil produced in the United States comes from offshore platforms. Due to environmental concerns following an oil spill off the coast of California in 1969, a suspension of offshore drilling was put in place. Since then, America has increased its energy spending to nearly 25 percent of the world's oil. Meanwhile, the United States produces about 10% of the world's oil, as much of the U.S. coastline has been out of commission for oil drilling since the early 1980s. America must wean itself off its dependence on foreign oil , and a valid solution to this problem is offshore oil drilling. The first U.S. offshore drilling was in 1947, with a well located several miles off the coast of Louisiana. The following years saw an expansion in automobile use in America, leading to an increase in demand for gasoline. On September 10, 1960, the Organization of the Petroleum Exporting Countries (OPEC) was created at the Baghdad Conference by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. In order to ensure what they believe to be a fair price for oil producers; OPEC imposes regulations between member countries. OPEC also credits the fact that it creates an efficient economic supply of oil for consuming countries (“Brief History”). This organization sets oil prices daily by limiting crude oil production and ...... middle of paper ...... mimics the benefits of offshore drilling, its supporters say. Responding to criticism that the oil industry has yet to accept Taking advantage of long-available areas, proponents say the undiscovered oil estimated in available areas is either too difficult or too expensive to extract. Supporters also insist that they do not view offshore drilling as the only solution to America's energy problem. needs. Developing alternatives to oil may prove preferable in the long term, they suggest. However, at present, there are no other practical and widely available energy sources capable of powering vehicles, they argue. This makes it necessary, they argue, at least for the near future, to find secure oil reserves and keep gasoline affordable. Supporters say other countries appear to be doing well without the types of offshore drilling bans the U.S. has in place..