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Influence of Foreign Oil

Influence of Foreign Oil

Because of the increasing gas prices and demand for transportation in the United States, many feel a new energy bill needs to be passed in congress. The American public must rely on foreign oil supplies that are slowly decreasing and these higher oil prices certainly take a toll on the United States Economy, and that includes the stock market.
Oil prices have substantially increased in the past few years growing to an all time high of 45.04 per barrel for oil from West Texas. To lower our reliance on foreign oil, the US needs a long term national energy. Foreign affairs are so complex, a plan to solve the needs of all involved may never come about since any instability where oil comes from can cause prices to rise. Some feel we should look for an alternative fuel source and do something that is good for the planet.
Investments can be made in alternative fuels but these companies are still working on technology so it is a good time to buy low and wait for things to change. Refurbished fast food vegetable oil and soy beans are just two of the many alternative avenues.



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