Economy of the whole world has been developing with oil as its important lifeblood. It’s in a straight line responsible for around 2.5% percent of world GDP and accounts 1/3rd of primary energy supply for human being.
Both oil and gas powers almost all the transportations across the globe. Except for some electric-powered means, you just can’t move over 25 mph with loads of weight without oil. Likewise, you can’t boost up economy; neither can propel modern military. And beyond a shadow of a doubt, the modern civilization will fall down if oil stops flowing. It’s hugely important for both the developed as well as developing world just as agriculture. That’s why oil is one of the most vital sources for the existence of human beings.
Perhaps You May Not Have an Idea- How Big Oil is?
Oil and gas transportation infrastructure is massively extended through shipping routes and pipelines. The pipelines of natural gas in the US alone can be stretched out to the Moon. There are millions of pipelines across this planet to distribute natural gas, crude oil and refined products.
There is around 40 percent of all seaborne cargo is oil. And total amount of oil transported via sea water is much higher than the total amount of fish biomass. And thus, the ocean is full of fish as well as oil cargoes.
On the other side, with the massive usages oil and gas constantly, it might become next-to-impossible in decades to come. They can be critical now, but feasible renewables growth may displace fossil fuels in the forthcoming generations. Solar and wind are hugely growing but oil is the only big source which can always do big things!
Also bear in mind that the energy production from oil alone is higher than solar or wind powers. The difference in power generation between oil production and solar power is more than the difference between Formula 1 racecar and a bicyclist. Even though solar power generation doubles each decade for over 100 years, it’d yet be quite far behind than oil today. Thus, to replace oil, you might need a whole century to allow the entire economy to be realigned and retooled by the new technologies.
Oil is Wealth For Everyone
The use of more-concentrated and cheaper energy sources tend to be great direct components of economic growth. Over and above, it always adds up to the improvement in the human condition. On the top of that abundant of energy resources can lift countries out of poverty. And undoubtedly, China figures out this very well. Any breakdown to secure energy resources and supplies can surely doom nations to fall down.
Energy efficiency is thus very powerful. But more than in most cases, increased energy efficiency actually cause larger energy consumption, because of less costs and faster economic growth. However, those of highly-developed countries can utilize sophisticated technologies to augment quality of life whilst using minimum energy.
Thus, oil is certainly high-quality energy. It can further easily be stored and moved. It’s also much cleaner than coal. Certainly, oil is the greatest wealth for any nation to sustain in this world.
Oil Industry is a secure place to work
Thanks to the advancement in technologies and safety measures that have actually made it just right to work in oil rigs being quite safe. Although there is a wide range of hazardous activities involved at a drill site but all them are professionally managed. However, in the past working in the oil rigs were used to be quite unsafe. But the industry has made safety improvements in oil and gas equipments, atomization and also provides wide-ranging safety training. In fact, oil industry workers are also well-paid in the market worldwide.
By and large there are a whole lot of things to know about the oil industry. Many people spend their entire life in this industry. After all, it’s pretty essential to understand some facts about this powerful fuel that might help you to revalue it over and again and also augment your ideas for an informed investment purposes.
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