The new year of 2016 has proven quickly that recession is continuing to prevent us from a working, efficient world economy. Closely linked to this phenomenon is a rugged, dirty economy that has made its way across the globe through groups of various competitive business owners and oil sucking hopefuls. While many countries, like India and China; are working their way into an industrialized world economy as working class nation-states within a world economy, the oil industry is still a key resource and non-renewable dependency that globalization is contingent on. Despite changing thoughts of ethics and morals when it comes to energy, the price of a barrel of oil reached a twelve-year low in the beginning of 2016 and now proves to be the answer to the United States avoiding another recession.
This January in 2016, at a new ten-year low of $26.55, the price of oil per barrel has now ensured investors security, a basis to a process of expected cleansing and renewal within the dirtiest economy on the face of the planet. The new year seems to be the most volatile market yet as smaller and less efficient oil companies and producers are expected to run out of business. Capitalism is a key component to this crumbling business economy as the largest corporations will be fit for the long hull with investments secured in studies of gas, bio-fuel and other environmentally sustainable solutions backed by credible research. Have you made an investment in your own future this year?
Removing the dependency of oil and other non-renewable resources is now a goal of many but also an issue related closely to political chaos and scientific suicide. Political organizations and candidates alike have been campaigning upon promises and ideas of renewable energy throughout the past decade. Others have taken the chance to make political gains with hopes that their partisan organization has something in store for them personally because they can deny the effects of global warming and climate change on the television. Marco Rubio, a Senator from Florida and presidential hopeful has been on Face the Nation twice now, repealing his first denial of scientific climate change by saying, “I do not believe in climate change in the same way some of these people out there are trying to make us believe” (https://youtu.be/aiczDqY-RrI, 0:13). The Rubio campaign is still a possibility in 2016 as the last major botch from the candidate was when he broke a molar on a frozen Twix bar last week, however; with any more denials of climate change and global warming you can count on the towel from the Rubio campaign in 2016.
Times are changing, so are candidates; will political organization be next? Tragedy within the British Petroleum corporation during the 2010 Deepwater Horizon oil spill couldn’t stop money from still flowing into Europe’s back pocket, emergency funds from other competitive corporations like British Gas would ensure the production of oils and gases for consumption would be a reality in Europe to support the working world economy. Importantly; on a serious note, the year 2030 has now become a campaign of itself; demanding alternative energy sources as a point of business that Green Party members throughout the United States hold dear to themselves, as talks in the past between the major political organizations had been marked as a goal for the year 2050! The reality of the situation is crude larger oil production companies are able to stay in business because of the investments they have in renewable energy sources and research they have done within those fields within the same company.
It is no secret in today’s world that a good investment into the future can be the saving grace later in life and during retirement. Prices on the New York Stock Exchange throughout the month of February have also affirmed that the recent prices of a barrel of oil have proven to be a solid investment and answer to the ailing thoughts of another recession. A larger surprise; a record twelve-year low was recorded by Bloomberg Business at $26.14 a barrel this month (http://bloom.bg/1V5MHci). An article from CNBC explains the situation upon market close, as of four o’clock in the afternoon on February 17th; EST, “US oil closes 1.36% lower, or 40 cents, at $29.04 a barrel” (http://cnb.cx/1WoADDs). The oil industry is staying active and the continual dependency upon non-renewables like petroleum and liquid natural gas as resources within the process of globalization and industrial globalization is a back bone to the future. Corporations in the oil industry providing oil services throughout the world are and have been the reason for many things happening around the world; terrorism, just and unjust war but also daily transportation, public transportation and shipping are dependent of oil.
Right now I would like to invite you all to the battle royal of the lasting oil production and oil service companies in the United States, pay attention in 2016. As for now we will be watching the most fit oil corporations flex, show their muscles as they endure the competitive nature of the alternative energy age in which all larger oil productions companies, ironically, have investments in new renewable energy concepts and plans for business in the future. Even though you can think oil is out of the question today as an investment with all the new renewable energy sources, oil sinks to all times lows; many countries are ready to trade and for those who are, it means business as barrels of oil reach highs of $35.00 daily during market hours (http://cnb.cx/1WoADDs). Good luck, dive head first when diving!
Weston Hoy, Syracuse, NY.
Wes holds a degree in Political Science from Syracuse University and is a local peace, justice, race, and economics activist.