Domestic oil production necessary for economy

The rising fuel prices across America affect every sector of American society — for families already struggling to make ends meet, an increase in fuel prices makes it much harder. American dependence on foreign oil poses a real and immediate danger to America. Events over the last few months in the Middle East have resulted in spikes in oil prices across America since America depends on foreign oil. This increase in oil prices is hurting the economic recovery as it has resulted in an increase in the price of basic commodities. According to the U.S. Bureau of Labor Statistics, released on April 15, the Consumer Price Index for food items increased by 1.2 percent nationwide since December 2010. This explains why America need her own energy security plan in place. To achieve this, America needs to reduce her dependency on imported oil, develop and produce oil and gas at home, diversify energy sources and increase efficiency of energy resources. 

One way of solving these fluctuating and unstable prices of gasoline in American is diversifying energy sources and becoming more energy independent with even cleaner energy sources. According to Growthenergy.org, in 2008 ethanol, an environment- friendly alternative for oil, eliminated the need to import 300 million barrels of gasoline to America. In addition, this reduced over 60 million tons of greenhouse emissions. Not only would government increasing its investment in this alternative source of energy go a long way to stabilize gasoline prices but it would encourage economic growth and ensure energy security in America. Other sources of friendly sources of energy being exploited are wind and solar for household use.

Furthermore, America being oil independent would create new jobs that the American economy badly needs, thus enhancing economic growth. Looking at statistics published by Growthenergy.org, in 2008, the U.S. ethanol industry created and supported over 400,000 green jobs and is estimated to grow to over 800,000 jobs by 2016. Also the New Jersey Public Interest Research Group reports that if only 10 percent of the homes in the mid-Atlantic states used some solar power, 25,390 jobs would be created, with a payroll of $364 million by 2014. Thus developing and producing American oil would stimulate economic recovery and stabilize gas prices.

Though energy security appears to be a concern to all American politicians, little has been done for decades to remedy the situation. Though environmental groups have argued for clean energy sources, the truth is that America has the potential and capabilities to develop and produce her own oil and even increase the use of alternative sources of energy for domestic use and cut her dependence of foreign imports.

Takoma Park, Md.

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