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Does in1859whenoil wasfirst discovered americasoil

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Unformatted text preview: ush Doctrine » Each of the modern presidents who have had to address terrorist threats (Reagan, Clinton, Bush43) have asserted a right to “preventive” self­defense, despite that preventive self­defense has no standing in international law • Obama has inherited this historical influence regarding US security Trends in Oil Consumption Trends Oil is currently the principle energy source of economic growth. The US, China, and India are consuming more oil, which fuels economic growth in these countries World Oil Consumption World World oil consumption was down in 2008 – 2010 from its peak in 2007, not because of conservation efforts, but rather because the world was experiencing an economic recession Is the World running out of Oil?? Is The world is not running out of oil Given advances in technology, more oil continues to be discovered, despite that the world is consuming more oil Since oil is the dominant energy resource in the world today, and the infrastructure is in place to find, process, and distribute oil, there is little incentive to pursue an alternative to oil Greenhouse Gases Greenhouse Ending Poverty Poverty-stricken countries —much of Africa and South America—produce virtually no greenhouse gases As the world climbs out of poverty, increased economic activity will result in substantial increases in greenhouse gases, unless alternative energy sources displace fossil fuels Today, the market heavily favors fossil fuels Does America Have More Oil? Does In 1859, when oil was first discovered, America’s oil reserve was as large as Saudi Arabia’s is today The US consumed almost all of its oil in the continental US in building an economy that has given America first­ world prosperity America ha...
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