The End of Oil

The End of Oil - Megan Carter HST 308 November 16, 2010...

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Megan Carter HST 308 November 16, 2010 Book Report The End of Oil In the Prologue the author, Paul Roberts, pulls the reader in by telling a story about a visit to Saudi Arabia, the first place people think about when they think about oil. He continues by building up and introducing ideas that he later elaborates on the three sections of the book. In the first chapter Roberts introduces Thomas Newcomen, who saved the oil industry with his extremely inefficient engine that pumped water from abandoned oil wells and made oilmen more money than they could imagine. He points out that as humans were able to get to more and more oil, they needed more and more oil not only to heat their homes, but also to produce goods at a much higher rate and quality than was ever done before the use of the engine with oil. OPEC (the Organization of Petroleum Exporting Countries) consists of many of the richest oil sources in the world, which just happen to belong to very unstable governments, which in turn ‘control’ the price of gas to countries such as the United States that are dependent on foreign oil. This is a predicament not only for the U.S., but for many other countries such as England, Japan, and China. Roberts points out that the reason Rockefeller became a millionaire was because he learned to take advantage of the new up-and-coming oil industry. He implemented the vertically integrated industry, where he controlled everything from the oil wells to the
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products that were made of oil and all of the factories and production in-between. Until anti-monopolistic laws were put into action, he was able to control prices and take over companies with the idea that if they stayed in business on their own they would just fail due to his ability to make his prices so low. He then goes into the idea that we are not out of oil, but we are almost to the end
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The End of Oil - Megan Carter HST 308 November 16, 2010...

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