### Economic Globalization: Tutorial Activity

You'll use the information you have learned to examine the impact of OPEC on global trade.

Part A

Watch this video of US oil company owner T. Boone Pickens discussing OPEC. Why does Pickens want the United States to be more independent of foreign oil? Answer the question in a brief paragraph.

Part B

In an era of increasing global trade and integration of national and regional economies, why would the United States want to produce its own oil and not buy from other producers? Answer the question in a brief paragraph.

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Answer :

Final answer:

The answer explains why T. Boone Pickens wants the U.S. to be more independent of foreign oil and why the U.S. would prefer to produce its own oil instead of buying from other producers.


Explanation:

T. Boone Pickens wants the United States to be more independent of foreign oil because reliance on foreign oil can make a country vulnerable to supply disruptions, price fluctuations, and geopolitical tensions. By producing more of its own oil, the United States can enhance its energy security and reduce its reliance on potentially unstable or hostile oil-producing countries.

In an era of increasing global trade and integration, the United States would want to produce its own oil to enhance its energy independence, reduce trade deficits, create domestic employment opportunities, and have more control over its energy resources. By producing domestically, the U.S. can also mitigate the impact of international conflicts or disruptions on its energy supply.


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