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Book Discussion - Essay Example

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cts" in the "the Hydrocarbon Age" chapter, he looks at the comparative newness of the petroleum as an important commodity, moreover, he looks at the swift establishment or development of the international and American oil companies that came to take over and control the industry, in both terms of price-setting and production. Laxer looks at the roles of the Organization of Petroleum Exporting States (the OPEC) that e in the ups or downs of the oil prices in the 1980s and 1970s; the OPEC played a crucial role (Laxer, 2008). The U.S. looked into how it considered petroleum or oil as a strategic commodity after World War II; the emanating issues of post-war foreign policies triggered by the need for ensuring the oil reserves’ security in the allies of the U.S at the interest of the U. S. The author looked and explained in terms or direction of this need, the main reason for political interventions and alliances in the Middle East, especially when the American oil reserves, domestic, have diminished drastically.
The author looks at the ‘peak oil; the rising issues and concerns on greenhouse gas emissions and the global warming. The author refers to "Peak oil" as the estimated point at which the global or worlds petroleum outputs are maximized or has maxed out; the author reminds the audience on implication from the availability of the petroleum reserves, he talks on the costs of refinement and recovery being met by the price stipulated on the sale of the final refined product. Despite the estimations of the peak oil are arrived at, the truth is that oil or petroleum is one of the finite commodities that is running out or being exhausted. The issues or problem of climatic changes is among the increasing challenges. Laxer has no answers to the problem but expounds thinking on them of the global leaders - economic, political, military, and social.
Laxer tries to answer how the industrialized world is addicted or hooked on oil, a source of energy that is ...Show more
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Summary

“Oil” by Laxer James looks at today’s world or global over dependency on the oil, both industrialized and non-industrialized worlds, and shows hurting realities of the relationships between money, politics, and oil. “Oil” examines the politics and economics of oil in…
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