Final answer:
The USA's considerable consumption of oil is largely due to its transportation needs, which include cars, trucks, trains, and planes. The reliance on imported oil leads to significant economic impacts and poses challenges to energy security, prompting measures such as the Strategic Petroleum Reserve and increased domestic production through fracking.
Step-by-step explanation:
The United States is a large consumer of oil primarily due to its extensive use in transportation. Transportation encompasses fuel for cars, trucks, trains, and airplanes, which collectively represent two-thirds of oil consumption. Since the U.S. oil production peaked in 1970, the country has increasingly depended on imported oil. In 2009, over half of the crude oil and petroleum products consumed in the U.S. were imported.
The economic impact of this dependence is significant, with the U.S. spending over $350 billion annually on imported oil, affecting economic growth and resource allocation. With oil providing 36% of all energy in the U.S., disruptions in oil supply, especially from the Middle East, have historically had substantial effects on the U.S. economy. The establishment of the Strategic Petroleum Reserve in 1977 and the increasing domestic production through fracking techniques, such as shale oil extraction, are some of the measures taken to mitigate these impacts.
Due to these concerns, discussions about energy strategies include diversifying energy sources, raising taxes on oil to discourage consumption, or even strategic importation to preserve domestic resources. Ultimately, the decision to limit or expand oil imports weighs heavily on national security concerns and economic stability.