The Full Cost of Oil in America
The cause and effect how we use oil in American reveals both triumph and tragedy. Petroleum has been both a blessing and a curse for America. We comprise less than 5 percent of the world's population, but consume 25 percent of all oil produced or about 20 million barrels or 840 million gallons. Since 1751 when the Industrial Revolution began we used the amount of fossil fuels burned that is equivalent to all plant growth on Earth for the last 13,300 years. We use this black gold there's no end to the stuff, though experts estimate we've got 50-100 years' supply left at current consumption rates. The world is currently consuming oil at the rate of 30.2 billion barrels per year. Based on the forecasts 50 to 100 years forecast is our global supply. We, Americans consume about 20.6 million barrels of petroleum per day (7.5 billion barrels per year). Currently, about 70% of the petroleum we consume is used for transportation. Light duty vehicles and freight trucks take the...