per day. The United States only produces.1 million barrels per day. Our nations dependency on oil is not just an issue because of the crisis that will be caused when it runs out, but our national security depends now and in the future. Opec is alliance. The harmful effects probably are easier to see. In 2009 the United States imported.7 million barrels per day (MMbd) of crude oil and refined petroleum products.
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The prices paid by customers at the pumps reflects the price of production and delivery, the retail costs, and taxes A Primer on Gasoline Prices" ). There are three main contributing factors that have caused this current global oil crisis: political instability, market pressure and the depletion of natural resources. Peak oil is not when we run out of oil but rather the complete opposite, when we have the most oil we've ever had. In 1956 Hubbert first predicted that we would hit peak oil in around 1970; he was accurate based on active oil production back then. And how will it affect us? Opec (2008) stated that Russia is the leading producer of oil with.5 million barrels per day. I will be focusing and talking about three main impacts of peak oil; Social impacts, environmental impacts and the economic/political impacts. This vital piece of our life is found hundreds of feet below the Earths surface and is extracted for consumption every minute, but its supply is running out and quicker than many people might think. Of course, not every nation will be faced with. Climate change, this graph shows the range of predictions from the ipcc of how the polar ice will melt over time due to climate change, (the top dotted-line slowest melt rate prediction, the bottom dotted line fastest melt rate prediction). Industries will be at risk of losing their jobs as employers will quickly consider reducing jobs. England taxes almost five times as much per gallon of gas than the United States.