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In this article, the writer explains that once the peak point of oil harvesting is reached, economic laws will become painfully evident to even the staunchest defenders of oil use. The writer points out that the supply is literally diminishing, and no amount of politics will be able to create more oil to fulfill the demands that the consumers of the world currently have for energy. Further, the writer notes that alternate supplies of energy in another form are not readily available and therefore, the oil which is available has become increasingly precious to consumers who demand it and are willing to pay a premium amount for the product.
Sample of Sources Used:
- Fletcher, Pascal (2004) "Venezuela would stop oil to U.S. if invaded -Chavez", Forbes.com 2/29/04, available at http://www.forbes.com/business/newswire/2004/02/29/rtr1280446.html
- Hubbert, M.K. (1956). Nuclear Energy and the Fossil Fuels. Presented before the Spring Meeting of the Southern District, American Petroleum Institute, Plaza Hotel, San Antonio, Texas, March 7-8-9, 1956
- Rupert, Mark and Rapkin, David "The Erosion of U.S. Leadership Capabilities," in Paul M. Johnson and William R. Thompson, eds., Rhythms in Politics and Economics (New York: Praeger, 1985)
- Whitaker, J.K. (ed.) (1990) Centenary Essays on Alfred Marshall, Massachusetts: Cambridge University Press.
Cite this Narrative Essay:
Oil Crisis (2007, April 19) Retrieved October 02, 2022, from https://www.academon.com/narrative-essay/oil-crisis-94038/
"Oil Crisis" 19 April 2007. Web. 02 October. 2022. <https://www.academon.com/narrative-essay/oil-crisis-94038/>