If Americans stopped using Arab Oil?

Question

would America's economy collapse or would the Arab's economy collapse? Reasons and explanations wanted of what would happen.

Answer 1

If we stopped using Arab Oil,, we could open the reserves we have here in America that would last at least another couple hundred years, while this is going on , research and develop another form of fuel, Corn Fuel, it will burn in existing cars, more efficient, cleaner so the environment will benefit, Farmers would now grow more corn,and our farmers could make a living.We need to get away from Arab oil and come up with a new fuel source now....

Answer 2

Actually its the reverse -- contiuing to allow a few people to stick lots of money in their pockets while the rest have to learn to substitute gas for other items will collapse the economy.

Oil barons would experience a personal economic collapse and the average consumer would have more cash in their pocket. America's economy is collapsing because a large amount of money is being collected in only a few pockets. The same thing has happened before major economic collapses throughout history. The excedingly rich usually don't invest wisely -- the 21st century has given birth to the McMansion -- multimillion dollar homes with no real value other than the land it is built on. The home theatres and bowling alleys and overstuffed furniture all have huge rates of deflation. Allowing these people to hoard and spend collapses economies.

Arabic countries already operate on a similar basis -- the wealth is not distributed. They also aren't exactly known for being the great democracies.

If you live in an urban or suburban area have you ever wondered why it is considered so bad to have solar panels on top your house -- check with the neo-nazis running your home owners association and local electric companies. It is in many peoples best interest to keep you from exercising what is in your best interest.

Answer 3

If there were alternative fuels to make up for the lost oil, then the Arab economy would collapse (With the exception of UAE... they are diversifying which is really intelligent). The Arab world does not export really anything of great value other than oil. They also don't export any sort of research either. They would be relegated to selling caviar and rugs. Even if we stopped using their oil now, our economy would not collapse. It would be horribly damaged, but I think it is something we could recover from.

Answer 4

Only a small percent of oil used in the US comes from Arab countries. Most of our imports are from Canada, Mexico, or Venezuela. The loss of Arab oil could easily be made up by drilling in the Gulf Of Mexico, as the Cubans are doing, or by drilling in the Alaskan tundra, as is being done across the border by the Canadians. So no collapse of the US economy would have to occur. As to the Arabs they would make up the sales loss by increasing there deliveries to China India and Japan.

Answer 5

It would hurt both economies, but none would collapse.

America isn't nearly as dependent on Arab oil as you may think. Canada is America's number one oil supplier, no one in the middle East. It would definitley hurt some import industries dependant on oil (plastic companies, fertilizer companies, ect). It would also damage the oil producers. HOWEVER, those producers can find new markets, and American firms can also find oil elsewhere.

Answer 6

Probably neither.

If America stopped using Arab oil, I am assuming that we would have not done so unless we had alternatives to it (other markets, other forms of power, etc). If this were the case, it should not impact our economy severely.

There is enough demand for oil so that the Arabs could sell it to other countries. It should not impact their economy severely.

Answer 7

America's economy would collapse. We are too dependant on oil for energy to cut off the major source of supply. IF we hadn't listened to environmentalists that said no more nuclear or hydroelectric plants we wouldn't be a dependant as we are on oil for our energy.

The Arabs would be hurt. But not as badly as Americans would be.

Answer 8

We don't get as much oil from the middle east is some think (link below) however we are in competition for more and more of it as other countries expand and use it so....

If we stopped importing from them and got more from Canada and or Mexico, the Middle East would just sell it to China or India. So really nothing but a shifting in both economies.

Answer 9

Nobody's economy would collapse. China would snap up Arabia's oil, and they would continue to exploit the world with their unregulated industry.

The only way to make the Middle East collapse and to boost the western economy is to discover new and alternative sources of energy to make their desert wasteland fade back into the obscurity it so richly deserves. Germany is already doing this by developing solar tech. Good for them.

Answer 10

Saudi Arabia, for better or worse, is our Ally. Or are you referring to all of the Middle East as "Arab"?
As long as we can get our 20 million barrels a day then we're okay. If we stop all oil purchases from a single nation then that's going to hurt them in a big way.