There would not be any wonder if oil extracts will be lesser and lesser every day, therefore (Winter, 2006, p. This is based on simple logic that natural resources are ‘ naturally’ scarce but oil consumers and miners choose to think that oil is unlimited because energy experts and political authorities implant such idea to prosumers and consumers. In 1993, a news organization reported that the 700 million barrels of oil Shell Oil Company mined was only good for 42 days (16.6 million bbl/day) for the U. economy at that time (Bartlett, 1998, p.
The US economy has always been one of the world’ s largest oil consumers as it is the world’ s second-biggest economy (only behind the European Union). Although it is a mixed market, one may not argue that it is highly capitalistic more than it is socialized. More than that, the country is probably overdeveloped as it is now. The clincher, however, is that major pollutants don’ t directly suffer the effects of climate change. Third world nations do which is why these the same catalysts to ecological degradation are the same agents (e.
G7 countries) that spearhead initiatives which appear ‘ globally than locally beneficial’ (e. Endorsement of the Tobin Tax). The worst case scenario is that they are likely solving the wrong problem. For instance, in the UK, oil dependency is misrepresented (however intentional or not) by energy experts and political authorities wherein the topic for domestic consumption eats more than half the time during public discussions when in fact, domestic consumption only accounts for 30% of the aggregate consumption (Mobbs, 2005, p. As made implicit, the global financial crisis of late is another serious trouble that has garnered more than enough attention (e.
initiatives for Basel III, Solvency II) wherein the effectiveness depends on the matter of implementation or adoption. The crisis was due to unhealthy financialization in major international markets wherein financial institutions became submissive to too many risks and thereby, creating ineffective demand (Mueller & Passadakis, 2009).
Please type your essay title, choose your document type, enter your email and we send you essay samples