As we have all heard, the global oil supply has been growing for several years, both from the Middle East and here at home, and prices are at an all-time low. We hear a lot of backlash against oil and gas companies, which contains a lot of feel-good verbiage, but it’s important to focus on the reality of what our lifestyles demand.
As in all situations, it is necessary to consider the other side of things: the majority of our lives here in the U.S. depend on oil, and a whole lot of it (think: cars, air conditioning, internal heating, electricity). In spite of anti-oil rhetoric, in a Forbes Energy article, Jude Clemente discusses data demonstrating a still increasing US oil demand.
The U.S. is the largest oil consumer in the world, with flying colors– at nearly double 2nd place China. Falling pump prices have encouraged more driving. “Every month since March 2014, seasonally adjusted annual rate of U.S. car sales have been above 16.3 million, 99% of them running on oil. Regardless of what is happening with supply, the reality is that our lives as we know it run on oil, and without it, much of our creature comforts would not be available to us. As much as oil companies are made out to be the bad guy, they work extremely hard to get more and more efficient to meet an already enormous, and increasing demand.
The global community undoubtedly needs to be aware of how it affects the environment it lives in and constantly work toward improving. However, it is important to balance that notion with the reality of what we consume to live a comfortable life– not to put the blame on oil companies for simply producing resources that we are asking for and take for granted, at high volumes.