Black Gold, the main source of the world's energy, what are the consequences of having such power. Politics is a significant factor in the economics of oil. We also talk about the Carbon Tax and what we feel is the most effective way to move forward from our reliance on oil from a governmental perspective.

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Song:

California by Soyb & Amine Maxwell https://soundcloud.com/soybmusic https://soundcloud.com/aminemaxwell Creative Commons — Attribution 3.0 Unported — CC BY 3.0 Free Download / Stream: https://bit.ly/syb-amine-california Music promoted by Audio Library https://youtu.be/aXCwXsa2T4E

Read More: https://www.eia.gov/energyexplained/oil-and-petroleum-products/imports-and-exports.php#:~:text=1%20The%20top%20five%20sources%20of%20U.S.%20total,Arabia%206%25%205%20Russia%206%25%206%20Colombia%204%25

https://www.nytimes.com/2021/02/02/business/energy-environment/exxon-mobil-bp-2020-loss.html https://www.forbes.com/sites/arielcohen/2019/11/26/making-history-us-exports-more-petroleum-than-it-imports-in-september-and-october/?sh=2fce18075f3b

https://www.bnnbloomberg.ca/oil-jumps-with-u-s-data-underscoring-brighter-global-outlook-1.1590005

https://www.thoughtco.com/elasticity-and-tax-incidence-1147952#:~:text=If%20supply%20is%20perfectly%20elastic%20or%20demand%20is,will%20bear%20the%20entire%20burden%20of%20a%20tax.

https://pressbooks.bccampus.ca/uvicecon103/chapter/4-6-taxes/