Sunday, May 6, 2007

The New War over oil

Bryant, Adam "The New War Over Oil." Newsweek 2 October 2000: 22 Proquest 5 may 2007.
Back in 1999 Al Gore wanted Clinton to tap into Alaska's Oil reserves. This was during a firey campaigning season against George W. Bush. Bush fired back and said that Alaska was only to be tapped into for a national emergency. Back in 1999 however oil prices were about 11$ a barrel because of all the warm winters. Warm winters decreases demand for any fossil fuel. however the Saudi's kept up with supply and therefore oil was cheap. Then other economies around the world started to flourish and demand went up, however the Saudis then cut back on our oil supplies and limited our oil which caused the increase that we are currently dealing with.

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