Most production companies either use oil in the products (like plastics) or use oil to fuel their machinery (like tractors). Oil shortage will make production more expensive, and an absence of oil will make production impossible. This will force companies to change or die. Oil drilling groups will obviously have the hardest time because their product is finite, and will be used up. However, right now, oil companies are still raking in enormous amounts of money every year.
2. How do oil prices affect the economy?
Generally, when energy prices rise, the economy goes down. When oil is more expensive, production of almost everything becomes more expensive incurring inflation. As oil becomes more scarce (unless we come up with a solution) it will get more and more expensive until it is completely depleted and gone.
3. What are the financial reasons for not publicizing the oil crisis?
As of now, our quickly depleting oil is not being publicized. There are a variety of reasons for this. Here are two examples. The first is that the government doesn't want people to be too frightened. The oil supply is depleting quickly, and we will need to get off of oil fast, or our entire system will fall apart when we run out of oil. The second reason is greed. There are still trillions and trillions of dollars worth of oil left in the Earth, and the heads of oil companies are eager to get it. If we switch off of oil too soon for them, they won't get that money.
http://205.254.135.24/oiaf/economy/energy_price.html
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