Can the economy survive the coming oil crisis?
Obama has given Iran x number of days to begin cooperating with the UN on their nuclear program or they will have sanctions placed on them Israel says we should stop all refined petroleum produts from entering Iran Iran has oil but little refining capacity Iran says if we place sanctions they will cut off all oil too the western world. Now if this scenario happens oil will go too incredible prices and the super great depression will happen. Unless we are ready with alternatives too oil such as electric cars biofuels vegetable oil based plastics. Many things are made from oil and we dont make enough oil we have a lot of oil in the USA some is hard too get too and it will take time too develop and their is natural gas which we have a tremendous amount of. The point is oil and the middle east could cause us alot of trouble potentially crashing the economy beyond bad especially if war happens with Iran so we better get prepared.
Asked by tacotorch about Politics
That and round 2 of the banking crisis. NO.
Answered by HillBilly DLUX2
All I know we get alot of money from the oil addicted Americans so thank you
Answered by Canadian Beachbum
No But i think gas prices will remain lowcause people are unemployed and cause the wrong change came.
Answered by Jose
what do mean survive? WERE already in the crisis ie the oilwars?
Answered by Phil
Why dont we drill in our own country??? that would end everything?? Please.
Answered by ssparkle63
How about Drill now and Nuclear but that would be to simple.And not Green.The change and bad direction we dont need.
Answered by 45 auto
We get more oil from Canada than Iran but it will drive the prices up which is exactly what Obama wants. Better make sure your bike tires are inflated properly.
Answered by Texas Patriot
We cant continue THIS lifestyle without oil. Oil is a finite resource and much has been wasted on the U.S. where we all wanted 3 or 4 cars per house and European vacations and constant trips to the mall. Now the oil is nearly gone...there is no other form of energy that will come close to fossil fuel. There WILL be a crisis and well adapt. Birth rates will plummet the economy will freeze and those who denied the inevitable will be unprepared for some very extreme living. http://www.peakoilcrisis.com/
Answered by Que Sera, Sera
We receive only 10 of our oil from the mideast. However the fact that prices for oil will necessarily go up is true. Fortunately assuming a free market our supply and the worlds will adjust. If gas goes up to 8/gallon people will use less fuel and alternative sources will become economically feasible. Even solar and wind might become cost competitive. As for the global depression I dont think we can avoid that regardless.
Answered by Teguci
The sky is not falling. The US does not get any oil from Iran. Most of our oil comes from the US Canada Mexico. Maybe only 10 from the Middle East. Iraq our ally has vast oil reserves.
Answered by regerugged
america apart from iran gets oil from africa saudi arabia alaska etc.if iran cuts of supplys america has other resources no to mention russia.
Answered by Peter
god i hope so.
Answered by kiwiiii
Obama needs to increase the cost of fuel to justify cap and trade. Also forcing you to purchase a high mileage Obama Motors car Chrysler Fiat. What ever it takes. If he has to eliminate thousands of more jobs preferably republican owned companies as with the takeover of GM forcing thousands of hard working Americans into the welfare lines closing 750 republican dealerships as a result. So be it. Taking over a country is not a pretty picture. Get use to it. Or do as Keith Oberbite puts it. Become part of a mob and actually fight for your freedoms. I never realizedfighting for your freedoms and God given rights oops there is that bad word again God was deemed an organized republican mob these days as many of these people are democrats as well. They know a scam when they see one.
Answered by FREERIDER
Youre sharp this morning. Youve got a good handle on that one. I dont know the answer but you are partially correct about using alternative fuels vegetable based plastics etc. But more oil is available in other countries besides the Middle East. However gasoline will NEVER be 1.59 a gallon ever again. We as a country need to plan for our future and leave partisan politics to the past.
Answered by correrafan
The economy might survive in spite of 0bamas wrong direction
Answered by Joe