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The truth about oil is that there is still much in reserves that have not been tapped into yet. The rate of oil consumption is at an all time high and still climbing. Oil is by far the most readily available high energy density fuel available for the entirety of the 20th century. There are many factors that have helped to create the market that exists for not only petroleum as a fuel, but also as an important chemical used in a huge variety of products which the average American enjoys unthinkingly. In order to better understand the position which the United States is in now and what the future might hold in regards to oil, it would be beneficial to first discuss a history of various economic, political and technological developments which has influenced and created the oil industry as it is today...
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