" OIl Crisis
...ty five miles to the gallon, may help the solution. OPEC which is the Organization of Petroleum Exporting Countries, is the main place that organizes where we get oil from and how much gets pumped. It is a reserve. In the U.S. other reserves are located in the Shoshone and Bridger-Teton area in Wyoming, and there is the Strategic Petroleum reserve. There is a strong demand on OPEC that differs every year. Sometimes it has to do with the weather and how much heating oil the economy demands. And sometimes it has to do with how much oil has to be pumped and transported. Heating oil is a major resource. 7.7 million House- holds use heating oil. The heating oil comes from refineries. The other source of heating oil comes from other countries. Those countries are Canada, the Virgin Islands and Venezuela. Winter is the season when heating oil is needed. The refineries produce the oil in the summer and store it in the fall ready for use in the winter. The one issue with heating oil is that it is sometimes delayed. If consumer demand is high for a seasonal product, such as gasoline, refiners may delay producing heating oil for the winter. This is because they are trying to save as much oil as possible. And the need for more oil causes some debates about whether to drill in Alaska. For years now there has been a debate over whether Alaska should be a source of oil. The good side of this is that it will lower the overall prices of fuel, because there won’t be such a high demand for taxes on the existing oil. The...