Oil Assignment

Oil Assignment

The fact that the nations on the Middle East are the ones in control of the number one exhaustible resources the world needs and wants; puts these nations in a top position, beingthem the ones that will control the economy, when the time comes and these so called exhaustible resources reach their scarcity.

The demand for oil will be so big, that countries that don’t possesit; will be willing to pay and trade anything for oil; and the prices will be extremely expensive.

As a result of this, the economic balance that we have today will change completely. Making thatthe countries that poses oil will be in total control of the global economy.

Countries like Saudi Arabia, Iran, Iraq, Kuwait, United Arab Emirates, just to name a few, will turn into the major worldpowers. They will be able to create a monopoly in which they can put any price they want for oil, and the other countries, in need of the resource will pay whatever price is named.

It will alsoforce the rest of the world to evolve; forcing them to find a solution for the high demand of a product that it’s about to reach scarcity.
Probably concentrating the attention of the world greatestminds in the search of a substance that will achieve to replace oil.

Meaning that the nation responsible for this achievement will certainly climb to a new top of the world’s economy.

But whilewe're in this situation, where the oil is still available and at the reach of the rest of the world. I believe that countries like the US should try to maintain a good relation with countries thatposses oil, and if possible try on reaching an agreement of how it would be handle the sale of oil.

But I think that they should attach to the idea of finding a substitute for oil; and also lockingfor new technologies that don’t require the use of oil. Like the advances we see today on cars that instead of using gas, they are electric.

The United States has always been a world power, and I...