Pahoua Moua
SOC 202
4/8/11
Blog #11
Recently, Libya has been having trouble with transporting oil. A tanker went to get oil from port of Marsa el-Hariga which escalated into violence. In countries today, since the economy is still trying to help pull itself back up, there are many violence acts. Oil today is essential because we can use it in ways of transportation.
The tanker that was to bring back oil can hold up to about 1 million barrels of oil. The shipment of oil this time around will only be a fraction of what used to be an average of 1.6 million barrels of oil from Libya. Since there were many issues, this would have been the first time in 18 days that oil would be transferred out of Libya. The Libyan government forces attack on rebels for trying to take back the key oil town called Brega. Exports will most likely remain low and will not make any global difference but the Middle East Energy analyst states that they will provide independent revenues for rebels. The tanker will get paid after they finish loading the oil for each shipment.
Oil is a big part of the economy nowadays because we use it so much due to technology and transportation. Merging and traveling to many different places will account for use of oil. It effects the economy because we are not only wasting money oil and gas but we are also emitting harmful substances into the atmosphere. What we need to keep in mind is that too many harmful substances can lead to global warming.
No comments:
Post a Comment