In speech after speech, our all-knowing President says oil is the "fuel of the past". But, for Obama to make such a statement, only proves how myopic he is when it comes to the "broad" importance of oil in our everyday lives. That's because oil isn't just about fuel.
A refined, 42-gallon barrel of oil will produce, at best, 19 gallons of gasoline. At the same time, about 10 gallons of diesel fuel and 4 gallons of jet fuel will be extracted from that very same barrel. The remaining 9 gallons of "stuff" that is produced from the refining process are byproducts that are used in the making of asphalt, tar, kerosene, solvents, lubricants, plastics, paints, fertilizers (ammonia), Liquified Petroleum Gas (LPG), synthetic rubbers, and even medicines and medicinal products like aspirin and rubbing alcohol.
While it is true that many of the byproducts from oil can be produced from other sources; typically, the cost to do so is prohibitively high. And, that's the real kicker. By reducing our dependance on oil, the prices of so many products that we absolutely need and use will necessarily skyrocket; especially those that it will cause to be in short supply.
Maybe we can "algae" our way out of our dependence on oil for fuel. But, if we don't find new ways to "economically" produce many of oil byproducts, we will find ourselves in a world of hurt in the future.
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2 comments:
While is it true that oil is an essential source of energy, it is also true that we have to innovate and find alternative sources of energy. And while we cannot do without oil completely, we can limit our dependence on foreign oil if we can increase our country's production to a point where we become a self-sufficient nation when it comes to oil supply.
Regards,
Queenie
Given that you came into my blog from the Philippines, what "we" and "our country" are you talking about. Right now, "this" country -- America -- is awash with oil if drilling is allowed. There are so many untapped oil reserves that the U.S. could actually become an oil exporter once again.
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