More than thirty years have passed since the Western countries experienced one of the most serious economic crisis- oil crises of the 70s. Undoubtedly some technological innovations have been introduced and economies of most of Western countries are not so oil dependant as in the middle of the seventies, nevertheless the economies of major developed nations still consume large amount of oil and energy resources. In my opinion few people would argue that due to the development of todays world economy, the demand on the oil or energy resources can be saturated to the full extent in the nearest future. With rapid economic growth of China and more rapid economic growth in India, there are more than enough reasonable grounds to suggest that the demand on oil will be increasing in the next several years or even decades to come.
The largest economy of the world- American economy depends on oil and many energy resources as well. Despite the fact that the USA is one of the largest producers of oil in the world it still has to import large amount of oil and other energy resources, from various regions of the world. Current situation in the Middle Eastern region, where large...
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