Increase in oil

Due to the recent effects of global warming many countries including the United States are beginning to lay claim to parts of the North Pole Region. It is thought that when the full effect of global warming is complete, the region will be rich in oil. This is significant in that no longer will countries that border the region have to rely solely on the Middle East for oil production. It is a well-known fact that there is oil in this region but due to the existence of ice caps the access to the oil is limited. Global warming has been seen as a negative to the economy of the world, especially with the thoughts that it is to blame for the amount of hurricanes that have occurred this year. Now it will be seen as a source of economic growth if the ice continues to melt.


Bree said...

I don't think the effects of global warming could honestly be beneficial to this planet. The ice caps are there for a reason and I believe that if they were to melt we're going to experience more problems than just trying to maintain our oil resources.

Liz said...

This is a good point but if the ice caps do melt then i guess we will be using that great oil supply to drive boats because the available land will be limited. :)

maddy said...

akTurn the heaters on and melt that ice. In the mean time lets improve our refinement processes and find a more efficient way of distribution. If anything that affects oil prices more than supply it is the distribution channels and the refinement process. Though we might find more under the north pole we will need a way to get it to the consumers.

Dr. Tufte said...

-1 on Maddy's comment for an uncorrected typographical error.

There are some mis-statements of fact here.

1) No one is dependent on mideast oil. The mideast tends to produce the cheapest high-grade oil. Countries are dependent on them only in the same sense that you are dependent on Wal-Mart.
2) The hurricanes are not associated with global warming. Uninformed media sources make that claim, but the climatologists have said clearly for a long time that there is no relationship.

I'm not necessarily advocating moving in this direction, but like all news, we only hear the bad parts. There are many reasons why global warming may be beneficial.