How has the price of crude oil affected the American economy?

How has the price of crude oil affected the American economy? Since Crude oil is a limited resource how does it affect the laws of supply and demand?How has the price of crude oil affected the American economy?
Oil is not as limited a resource as you may think. It can be gotten from many, many places we have not tapped yet.





For instance Alaska and Mexico simply do not us to drill there. Alaska on account of the environment, and Mexico and other countries because they do not want us interfering with their politics like we have done in the mid east.





We could drill the ocean floor, but that is expensive but the bottom line is that no one knows when oil will run out. This is mostly a political statement stemming from either environmental concerns or out of concern that our technology, by relying on oil, has become ';old school'; and it is time to look for new answers for energy.





But the truth is that everything runs on oll, whether it is from the energy used to manufacture it, or to transport it to you, or for you to operate it with use it. And by oil, I also mean coal or natural gas, ie fossil fuels. Other forms of energy used only account for 15% or so.





But we not run out of energy, whether we decide to get it from nuclear, corn, seaweed, whatever. And as for oil, since the USA is the largest consumer we also largly set the price for it. It's value becomes what we are willing to pay for it, or much does not get sold. Or alternatively, we march into another country looking for WMD's or whatever the excuse is





Anyway, since crude oil is not really a limited resource, this is not what causes the biggest fluctuation in our economy anyway. Even if it were a limited resource, problems with our economy stem mostly from how much money the Ferderal Reserve bank chooses to print in regard to how much business activity is occurring at any given time. You will always here this on the news as to whether the FED has raised or lowered interest rates. This is more important than the price of oil.





If the supply of money is too tight, then the economy will be restricted, people cannot borrow money to start a business or buy a house, etc. If the supply of money is too relaxed then everyone thinks they are doing great but it is all built on credit and then the companies go out of business and everyone is out of a job, etc





It is the supply of money, the debt, and the Federal Reserve bank that rule our economy much more than crude ollHow has the price of crude oil affected the American economy?
i came to try to help you with your questions..


but i dont know the answer to this one:(


feel freee to answer my other onee.


and i will do the same when you get a new onee.
many people have stopped taking trips because they could no longer afford the gas. There are lost of ways...dude. I bet if i knew you, I would be in love with you. your hot.