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Here is Why...
USA Control oil so USA have all power.
Some People Say China wlill compete with USA and Even like war.
I Tell You this...
To make war You need crude oil.  Without oil You cant do nothing
Even China production is mostly plastic what they export so to produce plastic You need crude oil.

Oil the Black gold.

There is no way anyone can stand against USA and USA dollar becouse by the numbers probably China India russia can Win over USA but for that they need oil... And who Got the all the oil? 
USA have it so until they Control oil the USA dollar remain king and future of New digital dollar development  as USDC and USDT  are just the small steps to make dollar great Again.

And look at bidden His the most smartest most strongest president with high diplomatic skills

Putin use to be Second serious president After Trump but now bidden Will Form world one one world government and bidden with USA dollar is Going to be king.

Im not on biden side or anyone I just tell how the things are.

When was g7 meeting we saw that bidden was Only strong Leader There like a boss.

To see that the biden are strong president we see that nobody willl take power of USA away.
Even China Will try with war...  But its Impossible USA have power over world oil and to get oil You need USA dollars and USA dollars u get it From USA Only :)

You have written so many repeating words and stating the obvious without punctuations for easy comprehension of your readers but I need to let you know that Biden is still new as the American president he ascended barely 6 months ago. As the 46th American president, he is still riding on the performance and glory of the past, there are no challenges that is new to him for the world to see his strength and policies he is going to introduce (he met covid-19, so is just a continuation for him). Biden has been printing more dollar and that may affect the currency if not probably handled.

About the black gold, nothing is permanent. Saudi Arabia is about saying they are not producers anymore and that means they are looking to diversify the economy. So oil may not be the ultimate as there are now different means to go pass the depency in the use of oil , like the electric cars that are being in use.

Oil remain king electricity comes from oil also.

I somehow agree with this scenario that oil is the black gold of the industry due to that most of the expensive need of certain people is electricity aside from water of course, and electricity somehow comes from oil and this is one of the most expensive natural resources in which it runs vehicles and some other stuff. Just imagine a world without oil meaning no transportation services that operates due to the absence of crude oil.

U see That's Why Russia China dream to Take over USA power it Can never happend until USA Control oil.
For War u need Even a lot oil and this large ammount of oil Only has it.

For war you need money. Biden flirting Putin after he called the guy a killer now wants to hold hands with Putin looks very desperate. China has more oil to dig in the South China Sea that's why they are persistent there. 

But most important of all is food. It's not oil nor black gold. When the people are hungry, the nation will have more riots especially in the cities where tents are scattered.

exactly. more important than that is water. they have already predicted that the next world war is going to be about water.
while oil is important but its days are numbered. the countries are already moving away from relying on it and in the upcoming decades we will see it significantly lose its importance too. that is when countries like Saudi Arabia that rely on oil are going to turn into dust.

Since most countries are moving to green energy the consumption will be reduced but it will take a long time to see that change in the automobile industry as well especially in third world countries but you cannot say that the days are numbered for the oil industry because there is an entire market that rely on Petrochemicals and most of the byproducts are used on a day to day basis and that cannot be replaced because the products range from soap and detergents to paint and plastic to synthetic fibers.  

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@OP Hope you are aware that China and Russia have oil reserves and they are placed in 4th and 3rd place in global oil production. India too have its oil reserves even though they import and so is the case with China.

Oil is an important commodity to have, but owning much oil does not equal wealth. There are many factors that contribute to the wealth of a country - have a read on the Wealth of Nations by Adam Smith.

China has cheap labour cost and production capacity that USA cannot match. Europe has its strategic position with a lot of ports and economic routes besides agricultural climate. But saying that USA is wealthy because of its oil sites is just a small part of the story. Middle East has a lot of oil reserves as well and you don't see them "ruling" the world.

Middle east are Under USA.
And Middle east oil belong to USA

We are still dependent to Oil but if you are going to look back last year where lockdown begins, it’s value decreases because no one are using it and that’s the possible scenario in the future if we are able to look for alternatives and I believe someone is already working on it. Oil is important and considered as basic goods, but if you are planning to buy make sure to know it’s risk.

The one who controls the oil is not the United States of America, but rather the oil-producing countries that have established an alliance known as OPEC+, which gives some decisions that directly affect oil.
The United States can influence oil-producing countries, but there is a federal law that prevents the price of a particular commodity from being determined directly, so the headquarters of OPEC + is outside the United States.

As for China, it is a struggle for influence to determine who can control a lot of resources and influence decision-makers.

It's not that everyone is using it, it's just that there's a pandemic so less cars and less gas and oil consumed. I don't think that they are going to find any alternatives because if they do, the higher power that benefits from the oil is going to do whatever it takes to have them still profit till the last oil drop.

How does the USA control oil? They only produce 20% of the world production, with Saudi Arabia producing about 12% and Russia about 11% and Canada 6% ....................

You can still make war when you have some countries with oil that will come together to fight against the USA. I doubt that Russia or Saudi Arabia will fight with the USA in a World War III scenario....

A typical scenario will be that Saudi Arabia (12%) and Russia (11%) and China (5%) and Iraq (4%) and Iran (4%) and Kuwait (3%) will come together to fight against the USA .... and they will control almost 40% of the global oil production.  :o

Thank you for letting us know something that is well-known since World War II. One of the reasons for the defeat of the Axis forces is their failure in securing the oil fields both in Arabia in Africa and in the Caucasus region in Russia. By the end of the war, the operations of the German army were severely limited for that cause, and it required the highest level of permission to use them.

Nowadays fuel is still the gold of war, but there are many other viable sources of energy and the refining processes are more sophisticated so you can get fuel from basically anything including camel shit. On top of that, there are even tanks that work with gas turbines.

Regardless, yes, oil is important even when not at war, yet you are absolutely wrong on you assumptions:
- Russia is actually an exporter of oil. They do not have any lack of it.
- Most reserves are in the middle east region.
- There is no shortage of suppliers in every continent as of today.
- USA does not control Oil at all. In fact a few months ago Saudi Arabia dropped the prices to near zero and killed quite a few fracking companies in USA.

Your political and economic analysis tend to suck TBH. Where do you get your information?

Yes with all these commodities we ignore the most important thing which are required to live life especially food,water and oxygen.Why the hell do we need money? To fill our and our families stomach right so why ignore them with materialistic things of of economy.Water and oxygen will soon run out of supply if we keep on our continuous wastage of water and cutting Jungle and trees for industrialisation and setting up new cities.Saudi Arabia and UAE have become soo rich and developed with selling oil to the world no doubt but we also need to give importance to the ones on the top of list.

So are you saying that it's going to be the most important thing right now? I don't think it will be good for the environment if we continue this relying on this resource. It's not an infinite resource, but it's the most important thing IMO based on the name itself, unlike renewable energy resources. Developing the correct technology with this could save a lot of habitat for everything.

Renewable energy is the key. 

Even without such reasoning, it only takes common sense to understand how important oil is and that people would exchange anything just to get a hold of it whenever possible. This is because of the fact that oil and its by products are the most needed necessity of our innovative world that desires even more innovation. Without oil, this world will go into chaos. Just try to imagine a wold without oil, could we have gone this far? I don't think so. And is we still want to get even further, more of this thing is needed.

I do think that right now considering the recent technologies, the renewable sources of energy are getting adopted more and more and therefore for the time being even if oil is an important asset, it won't be for long, there will be more options that we will see in the near future. Oil will ofcourse be necessary for the production of by-products but it won't be used so widely.


Well what we are talking about is " crude oil " used to make many things like petroleum jelly etc. But considering the recent innovations there are countries starting to use plants like jojoba to extract oil , which is not only affordable but also green.

I do believe that due to population explosion we might have to not only consider other options and substitutes but the power will also fluctuate since whosoever is successful in innovating a better and greener alternative, that country will have more stand in the world.

America is world power not just becuase of the oil for which we assume that they control. From my view point, I think there is more to this than we know it. America has been able to use diplomacy and rendering of aids through various international bodies to subject nations to some subordinate in a way that binds them altogether. You always have something yo loose by not being a part or subordinateto the demands and rules of these bodies. They are also world power becuase they've een able to portray themselves to be a free nation, having the highest populace of mixed race and are harnessing the energy and work force of all the race to fix its nation.

Obviously oil (petroleum/crude oil) is more important than money in the world. Literally everything that moves/transports things for you depends on oil. Imagine there are no oils. Engines won't work. Things will be delivered in the medial way. Prices will skyrocket. Its not only important for transportation, but also for plastics. Look around you and see how many objects are made of plastic (not talking about plastic wastes). Plastic is cheap. Why do you think the whole world is after oil?

Oil is indeed important and there's a reason why it is considered as black gold. Oil has so many purpose. Oil is important in different industries. It is vital to make the economy grow because without it, there will be negative chain effects.

Oil plays a significant role in transportation. Without oil, innovation would be useless since most vehicles still use oil nowadays. Of course, electricity-powered vehicles are a thing, but it is still limited and not yet widely used today. Oil remains to be the most used substance that makes car, motorcycle, and even aircraft's engine works.

Oil is also needed to produce electricity. Without oil, there would be little generation of electricity that could power the community. However, electricity production isn't limited to oil. There's also other way to produce electricity such as extracting energy from wind, ground, water, etc.

In addition, oil is used in food industry as well in household needs. It is vital to make food that needs to be sauteed as well as in different types of cuisine. You see, oil has so many benefits in human life. Without oil, the economy will surely have a hard time growing. Just look at the effect whenever there is an oil price hike. Everything's price goes up as well. Hence, we should value it because oil belongs to non-renewable resources.

Yes i agrre because Oil is the largest energy source in the world. All countries need oil which means this commodity will always be bought by the market. When the price reaches its highest point, oil will still be sold.

That's what they want us to believe, there are a lot of other sources of energy or fuel but they don't like it because they don't make a lot of money out of it.

What about this you Stupid story teller? you recently told us about what we must know in life here


and now you are breaking your own words?

this is a total BS , you talk a lot but all are nonsense .

better get out and stop talking because you are a clown that should not talk but just act.

Oil is really important as of now in this world. I think money and oil are dependent on each other but one day this is going to change as the world is trying to shift to renewable energy resources and everybody is currently researching more options about it. So, I think one day Oil won't be that important as it is right now.

You somewhat have a point about the fact that oil is currently one of the main things that countries are trying to get a hold off and without it you would have no power, but  we see a lot of countries also making sure to move away as much as possible from it as not only has a limited amount, but also it has some major impacts on the environment, that is why they are trying to create new energy forms and new materials to substitute oil, and it is only a matter of time before that happens and oil becomes inefficient and worthless. 

Your point of view is limited and also, you don't have enough thesis to back your claim which was based on repeated instances. Whenever you are bringing out an argument or claim, we anticipate the validity of your claims to come with facts, not just running around the same bush with limited points.

Fine oil is power in this current world but with time, everything is going to be a thing of past cause innovations and technology is advancing every single minutes which is a sign of change in nature.
The United States has everything it takes to be the head but the question here is, how long would it takes. Every nations in this current time is trying their best to meet up to high expectations as technology innovation keep on advancing.

I think this debate is subjective to individual opinion and understanding of the context from different angle of finance and economics, there are some findings I may have which will convince me but it will be hard for another person.
Oil is a very good thing that's scarce in some other part of the world, this is where demand sets in, there are some nations of the world where large deposits of crude can be found but may likely lack refineries to produced processed product.
Chinese or US, everyone has a part to play, don't take side about world leading country.

This kind of claims is what makes us people stupid and stubborn in trying to change our way of thinking in terms of energy sources, a lot of renewable energy sources are better than oil but people is still thinking like this then the effort to change is futile.

With the current technology, you can't directly replace oil with renewable energy sources. Take the case of automobiles for example. The EVs are not directly running on electricity. On the other hand, they use batteries to store the electricity, and use these batteries to run the motor. And this means additional expenses. The battery used for Tesla EVs cost around $15,000-$20,000 per piece. Therefore the gasoline run vehicles are at least two to three times cheaper than the EVs. If you ban the gasoline run vehicles all of a sudden, then many of the automobile owners will be unable to afford a vehicle.

The fact is that almost everyone uses oil today, and almost all economic activity will be crippled if the supply of oil is short or stagnates, so this business is huge. even today we can also see Aramco is one of the companies with the largest market cap in the world

I mean, if we were to actually take into account on which is more environmentally friendly and not, then yes, oil ranks really low but it doesn't take away the fact that Oil is one of the leading sources of energy that we have right now. I mean, if you were to think of it right now, why won't companies, governments, industries, etc use renewable energy sources in EVERYTHING if it was a lot better than oil right? It's because there are still hurdles to overcome. It's not really being ignorant imo, it's just having the better option that could accommodate what we use right now.

Not that I believe in what most of OP said, probably limited to "oil being important" and the rest is close to bs in my ears.

The US is really smart, they have controlled oil for a long time because they know that it is the most important commodity in the world...

but China and Russia are the largest oil-producing countries in the world too, what if the two countries unite to control the world's oil? surely the US will have problems.

I strongly disagree with that one because some European countries have done the initiative of cutting down diesel powered cars and there's one country in the region that is almost free of gas powered cars so I don't think that it's the technology that is the problem. The real problem is the power that oil has that is still strangling over countries and how they continuously suppress technology that will destroy their source of influence, there's a reason why it's called the black gold.

Oil is not everything, you know. And moreover there are starting to be lots of alternatives that are coming out these days. We are seeing things like electric cars, stoves and others that are not depending on oil like it used to be before. We have passed where almost everything had to depend on oil to function, this time around it’s totally different.

So don’t say that having oil makes a country the world power, if oil determines the level of power , then you should know that there are lots of other countries that has oil more than the US. And if it’s all about value of currency, then you should as well know that there are other currencies that are worth more than the USD. From the way you’re saying all these things, seems to me you still have a long way to go in this.

Oil has a really big importance of course. If we think simple, oil is a vital thing to make our cars start. But in the future, I think that oil will definitely lose its importance as electric cars etc. will take the place of gas-guzzlers.

It's all very nice, no doubt, that oil is a very important asset and gives certain privileges to the country, especially in terms of economy, export, etc. But I have one question for you, Venezuela holds up to 18% of total oil reserves on Earth, which makes it country #1 in the world in terms of oil. Where's the power then? That drives us to the conclusion, that it's not only reserves that matter but the people in power, the frame of a government, and strategic points to improve the economy.

For now, it must be admitted that oil is very important for human life, no wonder many oil-producing countries have become very rich. And why
has America always wanted to control the circulation of oil, because oil is very important. Because I believe in our daily life we all use oil, especially
to fuel our vehicles. But in the future the possibility of oil is no longer important, because there will be other alternatives to replace oil. One of them
electric vehicles will be in mass production, humans are intelligent creatures, there will be major changes in the future that will make oil no
longer important.

Everything around us had a special used need for us to live and survive, we can't certainly hide such a thing.
However, some innovations had come, not just for now but probably in the future that we no longer use oil or to its minimal level only. As we are aiming to help global warming, the more eager we create things like cars that will not use crude oil anymore.

Well, the process and development could take so long but this gonna be happening.

Currently, many are competing to improve environmentally friendly technology, when humans think that global warming is increasingly threatening the earth, then currently environmentally friendly energy is being developed. and of course to change that habit not in the blink of an eye, it takes a long process, just like biodiesel which uses energy from plant products

Both are needed to survive both money and oil are important the price of oil has been directly affected by the coronavirus not that. On the contrary there is another indirect reason behind it the negative impact of the coronavirus has led to a drop in global oil demand which has been a direct factor another reason for the decline in prices is that oil supply is increasing despite declining demand. Technology will increase the use of oil as a last resort oil is the main driving force of world economic activity.

Oil is important because the oil barons tells us that it's important and they want to be a monopoly for fuel. Electric cars have been here for a long time but they don't seem to gain traction because oil barons are suppressing the popularity of it because their oil will be worthless.

Yeah, oil will get less and less valuable that's the truth. I know it is not going to be today, but between hydro which has been a thing for decades, solar and wind we are going to have renewable energy everywhere, more and more cars are electric, more and more productions in factories are getting electricity from renewable, and more and more places decline to use oil because of the high taxes required which was put in use to lower oil use.

Basically there will be a moment where oil will be so cheap, you will have to pay to own it which happened in last march as well, it was literally negative price, you had to pay to own it, let alone have a worth in positive so you can sell. That was the first time, and it will happen again in the future and eventually there will be less and less produced, we do not have infinite amount of oil in the world, we need to move away from it as soon as possible.

America has become a superpower.  only China can make America restless.  If the Middle East (Arabic) countries no longer cooperate with America in terms of crude oil, America's power could be weakened.  but if there was another super power country, would it be friendlier?  No one knows.  but I don't think that will ever happen.  anyone who has a contract with America then it is very difficult for them to escape.  America must want it.

You don't think crypto or bitcoin is the same. Must of this so called shillers we see on twitter and YouTube are big holder in some coins that's why they always use that medium to tarnish the traditional system. The thing is every one is trying to survive and its always competing.
Look at how World Bank reject bitcoin when a country president seek for their help because they fee3its not suitable for economy.

China is making everyone restless already, that is no future music. China is buying into the stock markets all around the world, conquering Africa and monetizing it for their purposes and they have an incredible army of well educated IT specialist even at their youngest age. The times ahead of us are interesting.

Crude oil certainly does have a large influence on economic activity, there is no doubt about that.

But that influence is shrinking substantially as EV's become more and more popular and realistic as a form of transport by the day. This can be clearly seen by the EV SPAC boom earlier last year and the huge runup TSLA has had.

No single asset is "most important", period. They all have their boom and bust phases.

TSLA run up was a bit weird to be honest. It almost looked like a coordinated pump. There is literally no data backing that run up up in any way. TSLA hardly produces any cars, profits come from certificate trading and Bitcoin. Apple partnered with KIA and is most likely launching three models at the same time in 2024. Yet TSLA is already one third the market capitalization of Apple. I don't think Apple cars will be inferior. It is not that competitors stand still and Musk is producing record numbers on a daily basis.
But yes, the influence of crude oil will go down over time. Will be exciting to see how the Saudis manage that transition.

You may say it like that but there is one thing you are wrong about the most important instead you should have said it that oil is one of the most important in the world. How about money, you need money too right to buy important parts for the oil rig to pump oil. This is basically the same as the food is the most important in the world but the truth is that you can't have food when there is no land (an example for comparing between the two).

They believe that whoever controls oil, controls the world that why they are very much crazy about oil. There are some quite facts about it due to the fact that oil is the one who moves everything on earth but with recent innovations on energy consumptions, countries are trying to lessen their carbon footprints and the rise of solar energy is inevitable.

To be honest, I'm not sure that the United States is still the boss in the world. It looks more like the United States is now in big problems and is just at a fork in the road where it is necessary to choose or retain the power of the dollar or preserve the sector of the real economy. Since it was announced in Geneva that the United States is looking for allies against China, it is likely that the United States chose the second path, namely, to preserve the sector of the relative economy. As for oil, the United States no longer controls it, it lost this battle last year and lost its shale industry. But the truth is that in order to wage a war, you really need a lot of energy, but as we see now, neither the United States nor China has enough energy, for that Russia has it, which means that there will not be any real war, in any case in the next 5 - 10 years, and then we will see.

Can't disagree with this statement. During the last 3-4 decades, most of the major military confrontations have occurred in regions that are rich in oil resources. And ironically, apart from a few exceptions (such as the GCC nations, Brunei, Norway.etc), most of the oil producing countries have remained in abject poverty (Nigeria, Venezuela, Libya, Angola, Russia.etc). In many cases, the petroleum resources have attracted unwanted external intervention and this has fueled civil wars within the country.

We all know how essential oil is and I agree with the statement that whoever controls oil rules the world. Almost all of the things we are using daily requires oil to function. On the other hand, having USA as the top tier in having oil, it makes them dominate the world already and later on, we will surely see other countries like China competing against USA over the world domination and ruling of oil. Nevertheless, as innovations take place, we will surely see something that will replace oils essence and some countries may take advantage over it.

I don't see the great power of Biden if he doesn't have anyone behind him. Hasn't Biden been experienced since he was with Obama? so Biden is currently working diplomatically with China and Russia to mend their strained relationship. but have you ever thought that Putin is actually collaborating with the president of Turkey they are going to build a large company that was recently discovered on the Black coast near the Turkish border.

Obviously this has made Biden worried that since the discovery European countries have begun to approach Russia and Turkey. while from the beginning the hostility that was built between China and the US was a kind of cold war. Biden only looks weak when wooing without showing US anger.

I don't think Putin and China's diplomatic are in favour of Biden at all. Though we have to discuss importance of oil on one side, let us not forget that Biden has halted various operations from China mid-covid. Though it was out of anger towards Chinese misbehave during the Covid situation, Im sure this will impact at some point while creating such diplomatic relationship.

So everyone is talking about the basic needs or the economic needs of the state power? all of which are important at the same time have a positive value to extend life. food, drink, clean water, lots of money and welfare without taxes. abundant natural wealth and the absence of eviction of farmers' land because without farmers we cannot eat from their crops. the point is not to care about oil and whatnot. it's a state affair that wants to dominate the world's economic sector, but the people themselves suffer from hunger. what's the point of oil if even the smallest thing can't be noticed.

Russia is also investing in other countries like Turkey, they really have plans to bridge countries in Europe to Asia like the belt and road of China.

the purpose of the meeting is to have a good relationship with Russia but instead, it's stirred down to elsewhere. i think Biden was asking for Putin to rejoin back to G7. the problem is that Russia has close ties with China, they are neighbors as it is.

At present money is an important medium of exchange and through it, people meet their various needs. All over the world, it is almost impossible to do without money, but externally, money is just a piece of paper. Although it is possible to buy all the necessary goods in exchange for money, each substance has a different significance. The importance of crude oil at the present time is extremely important in all cases. At present, the world cannot be imagined without fuel oil. So at present, no country's economy can be thought of without oil. So a closer look reveals that in addition to money, crude oil is equally important for a country's economic and military development. That is why developed countries, including China, invest in various oil-rich countries and have various military agreements to ensure their oil demand and supply.

Interestingly China went with another route, which I do not know if it is an amazing move for them or not, and Saudi Arabia went with another. Those are three very wealthy nations, and I can name some other of course but that is not important I want to point out these three. USA went with oil, they want oil, they want to control oil production and how it moves, that is why Oil is pegged to USD everywhere in the world, and that is a good way to dominate, they have some amazing companies that make billions of dollars yearly from overseas as well.

Secondly we have China, which is buying land and houses in other nations, which is a reasonable investment, when you have tens of billions of dollars then you can buy lands everywhere in the world, and big lands as well, or huge apartments in big cities. Saudi Arabia on the other hand buys stocks of other nations companies, they own so much of big companies that we are not even realizing the whole world is basically working for Saudis at this point. No idea which one is better.

China is also conquering foreign stock markets. They have vast amounts of equity in hundreds and hundreds of companies listed on the European stock markets. They have a real strategy in place, trying to get their shares and secure their position on literally every continent. What's so impressive about them is that they do it quietly step by step. They have developed at an unbelievable pace over the last decades.

Yeah and even some will bully it's way just to get that precious oil like China to Philippines. They know that West Philippines Sea is quite rich with untapped minerals including oil that's why they are bullying its way just to get it for them. They even estimated it for Trillions worth of oil and could lead to new world order if not intervened by 1st world countries.

I agree that the South China Sea is rich in various minerals and fish deposits. But petroleum deposits are not that important. Even if there are petroleum deposits there, these deposits are very difficult to extract and it doesn't make any economical sense to set up oil rigs there. Unless the crude oil prices surge above $100 per barrel, these deposits may not be even considered for extraction. China is more interested in expanding the area of ocean under its control. Mineral deposits are just a secondary priority.

most of our daily lives need it or in other words oil is a kind of "black gold" that many big countries want to acquire precisely because it is becoming increasingly scarce, a fact we cannot denies that today's life "black gold" is indispensable, but its use is so polluting for the environment today that its use in large developed countries such as the United States also has limitations. they replace them with steam or solar powered machines which are very popular now.

even so, oil dominates in the smooth running of all human activities. Therefore, if the price of oil is expensive, it will affect the prices of all other goods. On the other hand, oil is a non-renewable natural resource, so the world is starting to develop alternative energy producers.

I also agree and think so. Oil is needed in various sectors, even large industries really need oil to drive all their machines. I don't know what would happen if this became so rare. This has become a basic need for the industrial sector. Like water, if water is difficult to get, humans will die of thirst.

Nope, oil isn't important. The oil barons just want you to think that because if they aren't relevant then they will have less profits. Plus there's a lot of renewable energy out there on the market and electric cars to replace oil but the only problem is that we are brainwashed to think that we need oil when there's a lot of better and cheap alternative.

how can they sell the oil if they will only accept usa dollar ? and no we can get the usa dollar anywhere via money exchangers .
 also is it saudi has the most oil ? oil is important before but right now many are against with oil because they say that it hurts the enviroment ,
 its why they invented machines , cars , pans and other things that dont need oil .

I do not get why nobody really cares about it, like what could be the situation that allows European and American governments to let that be? If another nation ends up buying half of all the big companies listed in Nasdaq then I would be very upset about it, I wouldn't be happy about it, for some reason people are quite happy about getting Chinese money go back into economy instead of staying there, not only they are not worried they are happy, because these companies paid china to produce something then china used that money to buy the company? How is that any good?

At the end of the day I think it is obvious that we should be upset over Chinese financial domination, and unless we do something to stop them, they are going to won all the companies and business' all over the world eventually, not right away of course but in a few decades it will be mainly Chinese owned by the looks of it.

There is no truth in these claims. The total market capitalization of NYSE + NASDAQ is around $45 trillion. The vast majority of this amount is owned by individuals and corporations that are based in the United States. Foreign investors (especially those from China, Japan, Middle-east.etc) own only a small fraction of this amount. I don't see anything wrong with it. More foreign investment will create more demand for the stocks, and this will push up the stock prices. US citizens will benefit out of this, in the form of higher returns to their stocks. And the government will also receive higher amount of taxes.

The trick is that USA is controlling the whole of Oil market only because that is the thing that does bring power to business, there are soooo many business in the world that relies on oil that there is absolutely no way to get rich without participating even just a slight bit into oil as well, one part of your business relies on oil one way or another. Even if it is not directly based on it, you at least use cars which uses oil/petrol so you end up with it.

So, long story short whenever you find a lot of "energy" which could be oil, gas, green whatever that means you get stronger as a nation because it is THAT much important. Money however can solve all of that, if you are rich enough you could simply buy it in bulk and not have a problem. However what you do with that oil matters, USA controls all of oil yet its citizens die of lack of insulin, whereas Norway has oil yet they are happiest nation in the world.

yes thats true and now the price of oil is now experiencing a sizable increase, recorded that Brent crude futures rose 1.93 percent or $1.43 to the price of $75.55 per barrel. US West Texas Intermediate futures settled 2.22 percent, or $1.62 higher, at $74.56 a barrel.
This is because the supply of oil in the USA has decreased.
and now US crude and gasoline stocks are down and gasoline demand is at its highest level since 2019.
I think this is what makes oil one of the contestants because it is not only money that has power but it could be with this so that oil is fought for and believe or not there are a lot of disputes that occur because of this oil

China will fight against the US ???? More delirium is hard to come up with! By destroying the United States, both the economy and the financial system of the United States will be destroyed, leading to a world collapse. And China will lose essentially the best creditor and consumer of its economy. This is an allogical concept. What China needs is:
1. New territories, and "old" ones, previously lost during the conflicts of the 19th and 20th centuries. There is both an economic and political need for this. The population is very large. To raise the status of the ruling party, it is necessary to return their "ancestral" lands - from the Urals to Mongolia.
2. Some resources - such as, for example, forest, water, land for agriculture. The most attractive option is the eastern regions of the Russian Federation. Moreover, there is already a massive assimilation of regions by the Chinese. Some cities in the Russian Far East are already almost 90% populated by Chinese.

Have you ever watched the parades of the PRC army? Be sure to check them out - you will find them on YouTube in 5 seconds. Pay attention to the camouflage technique! Camouflage - at a significant part, for operations in snow-covered areas. Now the question is - China will fight against Greenland? Or attack Canada? Or Alaska? Let's think - on whose territory is the Chinese army ready to fight ?! Today it is Russia that has become a resource / territorial appendage for China, which means that China will defend its interests there in the near future ...

It is like a chain reaction. If the crude prices remain high, then the shale oil producers will pump out more and more oil by fracking. This will increase the supply of crude oil in the market and suppress the prices. And when the crude oil prices go down, the shale producers will once again struggle to balance their finances and then the supply will drop. And when the supply drops, the prices will go up once again. And then the cycle will repeat like an infinite loop. The OPEC and the shale producers need to reach an agreement.

No matter how "large" the population can become, china has VAST VAST lands, they do not "need" lands to put more people in, the problem they already have is that people are getting into crowded cities instead of expanding to larger areas, there are many many more places in China and that nobody stays right now, this is valid for nearly every nation, usually the capital city (or could be like how New York is not capital but most crowded) or any other city gets super crowded and there are places where you can drive for hours without seeing one house, so it could get to a level where every city is as crowded as the most crowded city and that could mean that population can grow 10x and it would still be fit into the same nation.

The problem is usually food related, and shelter related, if you can't find that even when you have enough of it, that is the biggest problem.

You misunderstood me a little. I will clarify.
China has a "historical grievance" and regional ambitions for the new empire. "Historical offense" - for the lands that passed to another country, and which China considers primordially its, historically. Further about the territory - have you looked at the map of China? Have you been to central, server and western China? I recommend watching. There is indeed a lot of land there - but you would hardly agree to live there. Therefore, China still has a problem with the territory. And about resources - China needs fresh water, timber, agricultural land! The closest and, in fact, the only place where it is is from its "friend" and its raw material appendage - Russia. Moreover, it was she who not so long ago deprived China of part of its lands, which means that Russia is the most convenient object for solving the above problems. Moreover, you cannot help but notice how Russia is flirting with China, trying to be as "soft and benevolent" as possible, knowing full well that the West is not a supporter of open military confrontation, but China does not care - it has the largest army in the region, assimilated by the Chinese the southeastern part of the Russian Federation, nuclear weapons and "the best communist party in China!"


PS Surprising fact: China is among the leaders in the TOP 3 world suppliers in the following directions:
- Fuel wood (2nd place)
- Business round wood (2nd place)
- Lumber (1 piece)
- Sheet wood materials (1 piece)
- Paper and cardboard (1 piece)

It seems nothing surprising. BUT - according to Chinese law, deforestation is practically prohibited in China. Read more in the "Forest Code of the People's Republic of China". Chapter V. Harvesting of wood. Guess - where does China get its timber from on such a scale? :)

Oil is the most important. Without oil, we'd have a transportation crisis. Folks will not be able to move their cars, motorcycles, trucks, trains and planes from point A to B. It would be Hell.  Without Oil, the world's electricity will be gone and people live in total blackouts. There would be food shortages worldwide because there'll be no electricity to power your refrigerator. Without the byproducts from crude oil, the world will be without the basic necessities of life, how would we manufacture paints and fertilizers, what about the plastics.

Think about it, not just money but oil is the most important thing in the world.

There's no denying that the US controlled oil but I don't agree that oil is the most important thing or without it, there will be a transportation crisis and no electricity because we're in the 21 century where new innovation technology are introduced every day.  Besides, with electric vehicles created by Tesla and some other ideas that will be developed, it is only a matter of time before oil depreciates in the market.

Oil is required for transportation. Agreed with that point. But for electricity generation, oil is no longer used. Diesel and Naphtha are no longer used for electricity generation, due to being more expensive when compared to other sources such as coal and Uranium. But oil still have a monopoly for transport. And it is one of the essential sectors. No viable alternative exists right now in the transport sector. EVs are not used on a large scale, because they are much more expensive, and also due to the fact that some of the components used in the EV battery (Lithium, Cobalt.etc) are in short supply.

The problem with electric cars is that they also depend on non-renewable resources such as Lithium. So it is not a very sustainable situation. Already EV manufacturers such as Tesla and Nissan are reporting shortages of Lithium and Cobalt. The situation with Cobalt is especially precarious, since most of the deposits are found in the war torn country of Congo. Unless they can come up with a new battery technology, EVs will never get popular. The cost of producing an EV will go further up in the future, due to Li-Co shortage.

I agree with you but you don't understand what I am trying to say. The use of oil will fall in the future and people will have no choice but to look for another alternative which is the reason for the creation of the innovative electric car and we shouldn't expect it not to have some flaws in the beginning.

Forget what you see in the news, extinction of oil is something that's not happening anytime soon. It's practically useful in our everyday day life though pollution is a problem.
You talk about solar but you forget to talk about the limitations and the amount of energy generated from oil is way more efficient than solar. You know about of panel and inverter need to power huge industrial engines? That will require lots of cost.
Steam on the other hand need coal or another source of power to keep the energy running.

Was supposed to say the same thing about EV's and in regards to that battery technology which is one of the factors that the prices of the EV's is something not really that appealing due to
those main factors and also comparing oil powered and Ev's in terms of power then its not that im underestimating those ev's but it is way too far behind i shall say.
Oil is indeed on of the most important thing on this world and there's no way that it could really be taken down by just switching on into a new way in terms of transportation
or any other things related to it.Both would exist and would serve out different markets.

The fluctuating world oil prices caused uncertainty for industry players. Companies engaged in this sector are also worried about unpredictable fluctuations in oil prices, especially in the midst of the outbreak of the Corona Virus aka COVID-19. and as we know the holder of the largest oil refinery company is the US, which makes the US able to compete in the economy because oil is the main key to the economy and industry but behind that large-scale mining is possible for oil to dry up in the future

Not so long ago, the same was said about horses, wood and coal! Let's take a look - what position do these "3 critical resources" occupy in the life of the modern world? :)
It will be the same with oil ... Moreover, there is actually a lot of oil ... There is a lot, and its reserves will last for a hundred years or even more, at today's level of consumption! Look at the trends, and you will understand that even after 10 years, consumption will already noticeably decrease.

Maybe you are right, although now there is a plan to substitute oil with battery but I think battery is not as strong as oil. I think oil mine is also a dangerous thing, imagine if there is a new big oil mine site that found in a place which is not a part of any country maybe strong country like America, Russia or other Western country or china will fight for that. I hope people prioritize their heart rather than their greed which can destroy themselves. Humanity is also an important thing in this world.

Oil is not "required" for transportation, it is preferred. We do have electric trucks as well so it is not really a required thing, it is a thing that we prefer because it is cheaper. Do you know how hard to manufacture a line of electric trucks? It is both very very very expensive to even be capable of doing that so many car companies are not doing it commonly, but at the same time it doesn't profit you all that much as a car manufacturer, so why would you build something that will break even in 50 years?

The only thing that makes these companies do this is that there is a demand for it and if you could actually end up making a profit for it then you would do it in small scale instead of manufacturing like thousands, just do hundred a month and you can find a buyer and you will be able to fill some void. As soon as they become the norm you will see oil not needed anymore for transportation at all.

One way or another, you are right, everything now runs on oil, oil is everywhere, it is thanks to oil that we have the current technological progress.
However, it is far from necessary that this will continue in the future. Before the advent of electricity, coal was the main source of energy, and what about the coal industry now?

the role of oil is very important, where almost all the equipment that helps us use oil. Therefore, when the price of oil rises, it is certain that the price of all goods will also increase. Therefore, a country that has large oil reserves, usually the country will prosper

Oil is on it's way out.  The resources the world will fight over in the future are rare earth metals needed to make high tech devices and especially military equipment.  There are very few locations where there are good deposits, and whoever controls those will have a strategic economic and military advantage.  We're on our way to solving for a world that uses much less oil, but there currently is no way around a lack of REMs.

Yeah I agree. Oil runs the world and without these, we are probably not here. It propels us to the future thats why these giants country are so into it. China's even claiming waters beyond their territory just to have those precious oil. This resources also powers most of the vehicles used for war which is why they are hungry for it.

That's right, the most needed resource today is crude oil. dubai is one of the largest oil producers today and it is very influential for the people's economy. we can see that from the large projects that are often built in dubai and the vehicles that are mostly used by the people there. Whoever controls oil will rule the world.

Its true that oil mostly run the world since most of machinery and autoindustry still using oil. Dubai grab the opportunity of being the oil capital in the world that drastically change their country but they also know oil is not permanent time comes it all exhausted, i think if most country change their view on how to care planet earth then oil will not as much important. By changing to renewable energy and converting auto industry to use electric then we have a brighter future on this planet.

To do this, it is necessary to become members of such associations as NATO, this will moderate the ardor of some aggressor countries. For example, the Russian Federation can attack Georgia or Ukraine - the countries are guaranteed to be weaker, but will never attack Poland or Lithuania - they are part of a powerful military-political bloc, and the response for the aggressor will be fatal.
By the way, it is the Russian Federation today that is probably the last country that will try to hold on to oil and gas, and by all legal and illegal methods will try to create demand and increase the price - its economy is almost entirely resource-based and depends on the sale of hydrocarbons. Therefore, with the next turmoil in the oil and gas market, remember the question "CUI PRODEST; CUI BONO"

Crude oil is very important today, because most of the machines used by humans still use fuel oil. Therefore, the middle eastern country which does
have quite a lot of oil reserves, is now indeed a rich country. But the limited amount of crude oil, makes people think about looking for other
alternatives. Moreover, the use of oil as a fuel can damage the environment, so slowly several large countries began to switch to using electricity.
So in the future the possibility of oil is no longer important, because everything will use electricity. Therefore, a country that has a lot of oil reserves,
if not put to good use of the money from the sale of crude oil, in the future will not be a rich country anymore.

Oil has been a magnet since world war 1, when the industrial revolution and demand for oil continued to increase, strong countries wanted to control the oil supply, now there is no war and of course with this fact oil producing countries get a lot of benefits from the need for oil.

Regarding rare earth elements (REE), I have heard that they are somewhat abundant in the planet. The main issue is with processing of the mineral deposits, which produces large volumes of toxic byproducts. Right now, China is a leader, because their environmental regulations are not very strong and private players can get away with the toxins they produce. China accounts for 58% of the global REE production, and this in turn has made them a global leader in the production of electronic appliances. Myanmar is another country, which is increasing its production right now. US has enough deposits, but getting the clearance from the government to extract them is quite difficult.

We can say that from daugava I, using something, few care about the consequences that remain.

You may be right about them not being as "rare" as the name might suggest.  I did some reading after your comment and it turns out the US has several significant deposits, but there's not currently a way to get them out of the ground in an ecologically acceptable way.  So while the US is waiting for a technological breakthrough to access them in a better way, we're reliant on China where we import 80% of the REE we need.  That's an obvious economic and national security threat, one which China has already threatened to use as leverage in trade negotiations.

Most countries who happens to have this natural resources feels powerful because yes oil is very important to any countries economic growth reason why countries with oil are doing everything possible to safeguard it, those with great foresight are utilising the opportunity to develop and increase their position in the world, reason why some powerful countries are oppressing small and less powerful countries to take over their crude oil, although slowly alternatives with the production of electric vehicles and such devices that need the use of oil are comingup, perhaps in the future when this electric vehicles are more common oil will not be so important as it use to be and only countries with such ability will have the upper hand.

Oil along with money is very important to improve the economy of the country oil is used in many daily activities of human beings fuel oil plays an important role in world politics countries that fuel the united states have doubled their oil production but now it is doing less. The main reason for this is that the united states has found large reserves of oil stored in shale wells.

Controversial statement. See the list of countries, TOP-10, by oil reserves:

1st place - Venezuela.
2nd place - Saudi Arabia.
3rd place - Canada.
4th place - Iran.
5th place - Iraq.
6th place - Kuwait.
7th place - United Arab Emirates (UAE).
8th place - Russia

And now:
1,4,5,8 - countries that DEPEND on oil prices, and the economy suffers huge losses when it decreases. Moreover, having oil but not having brains, they were unable to take advantage of high prices and invest the profits from the sale of oil in the development of technologies and other sectors of the economy for diversification.

2,3,6,7 - countries both have dependence and do not have dependence (we mean a strong dependence of the budget on oil prices). They were smart enough to reinvest in other industries, in the development of the country, in raising the standard of living of their citizens.

So everything is not so simple. Any resource can be useful in skillful hands, and harmful in the hands of a fool ...

The list doesn't make any sense. The cost of production of crude oil in Saudi Arabia is only around $9 per barrel (that includes transporting the crude to refineries). For Russia it costs around $30 to produce one barrel of crude from the onshore deposits (including transport). For the arctic reserves, the production cost excluding transport is $120 per barrel. So it is not right to group all the deposits together. It may give an impression that Venezuela will benefit the most in future, but the cost of production there is manytimes what they have in Saudi Arabia.

You misunderstood the key point a little - I wanted to say that the income received from one and the same resource (oil, even with a different cost price) cannot always be used wisely! Whatever the cost of production in the Russian Federation, for the period from 2000 to 2018 the budget of the Russian Federation received several trillion dollars !!! (sources are readily available in the public domain) For that kind of money, the country could implement a huge number of projects within the country, raise the standard of living, and at least gasify the houses of its citizens! If you don't know - in the Russian Federation, being the largest gas supplier to the world market, more than 40% of the residential sector is not supplied with gas! They could also develop a technological niche, at least follow the path of purchasing technologies to create a foundation for further growth. But all they did was a pitiful parody of Silicon Valley - Skolkovo, where hundreds of billions of rubles were stolen. The output is nothing significant or deserving minimal attention. During this period, no new schools were built, but their number, on the contrary, decreased! At the beginning of 2000, there were schools in the Russian Federation: 46 thousand, now, in 2021, it has decreased to 24 thousand! Medicine fell into decay, and the reforms turned out to be a failure - the number of medical institutions and the quality of their work significantly decreased! The retirement age was increased, social funds were reduced.
 
But for example, Norway in recent years has created the National Welfare Fund of Norway. With reserves of over 1 trillion EURO! No, they didn’t set up palaces all over the country for their president, they didn’t surround themselves with a half-million, tame, national guard, to protect themselves from their own people!

And the United Arab Emirates, over the past decades, from desert settlements have turned into the most technogenic and developed megacities! At the same time, they invest this money both in the population and in the technologies of the future!

And in the state of Alaska, every citizen of the state receives an annual supplement from the sale of oil, and part of the funds goes to the development of the state's infrastructure ...

I'm sure this will make the main idea that I wanted to convey clearer? :)

Well, about prices, production costs.
I agree that Saudi Arabia has the lowest production cost. But in Iran and Iraq, it does not differ much - $ 9 and $ 10.5 per barrel - so what? Is it also wonderful to live there like in Saudi Arabia? :)
But in Norway it is generally $ 30 / bbl. and the most difficult conditions for offshore oil production! Can I tell you about the quality of life in Norway? :)
By the way, I disagree on the estimate of the cost of oil production in the Russian Federation - your data is greatly overstated! Official data in Russia - the weighted average cost of production is about $ 18 / bbl, or from $ 9 to $ 20, depending on production sites and infrastructure. This is according to the official statements of the Deputy Head of the Ministry of Energy of the Russian Federation, Pavel Sorokin, in 2020, which you can easily check in open sources ...

^^^^ Norway is the perfect example for how the oil revenues need to be spent. They have more than a trillion USD in their rainy day funds (and the total population is less than 5 million). None of the other countries had that much success in dealing with the oil revenues. Regarding the UAE, I would say that they fared relatively well, but then wasteful projects such as the palm islands cost them a lot of money. And on the other side of the spectrum we have countries such as Nigeria and Angola, where almost 100% of the oil wealth was stolen. The situation in Russia is not that bad, but they have fared poorly. The government is yet to kick off its Soviet hangover, and is spending huge amounts of money every year on foreign grants and defense. Not a good idea when a large part of the population is living in poverty. And obviously oligarchs were able to steal a large part of the oil revenues.

Well, that's exactly what I wanted to convey the idea. Although there is one more nuance - income diversification. If the same Norway forms its budget, and oil revenues are sensitive but do not have a critical weight. This means that a sharp change in the situation in this specific market will not drop the country's economy. And many countries such as Venezuela, the United Arab Emirates, the Russian Federation - have a critical share of oil revenues in the budget. Venezuela and the UAE, if I am not mistaken, filled the budget with oil revenues up to 70% +/-, the Russian Federation - from 30 to 40%. True, the UAE uses the head for its intended purpose - they think and are engaged in the diversification of the economy. And the two remaining countries use their heads just to eat and talk. Therefore, the UAE has laid a good foundation for the future, while Venezuela and the Russian Federation are smoothly (or not smoothly) watching the irreversible plunge of their economies into chaos.

The oil industry moves unthinkable amounts of money in the world which goes directly to the pockets of the establishment's members who rule their local societies on the backgrounds. That is the reason why electric cars and similar technologies are never fully implemented or opened to everyone for an affordable price.
Oil was indeed black gold many years, but it shouldn't remain like this anymore, because it's already possible to replace it, if there was legit interest from governments, businessmen and bureaucrats.

However, modern slavery is more profitable for them, as renewable sources of energy turn people less dependent, just like bitcoin and financial system correlation, so oil will last as black gold for a long time yet.

The limited part is not really a big problem because even though there is a limited supply of oil in the world, there are still enough out there that we could actually use it for decades, I mean we literally find more oil than we ever need every single year, there was a poind during last year’s pandemic moments where oil became negative price, yes that’s right you had to pay to own something and then pay to keep owning it instead of being able to sell it, you had to pay to sell it instead of getting paid.

These are all huge things in the oil world that proves that oil is not lacking in amount. However, the fact that it is killing the world for us is the thing we should be looking at, in 50 years world will not be a place where humans can survive this easily, our life will become a whole survival movie and even water will be a commodity we will need, we can survive this only if we move to renewable energy and pollute the world less.

Oil has made many countries invade other countries, it cannot be denied because the need for oil is life for humans, almost all economic activities always require oil so it is natural that oil is the world's first need.

For Russia, the figure that you mentioned (30%-40%) is just for crude oil and petroleum products, right? I suspect that if we add natural gas as well, then the numbers will be close to 50%-60%. And these two needs to be grouped together, because the natural gas prices are closely linked to the crude oil prices (with a lag of around 6 months, I guess). But it is a shame that the Russian economy is not diversified. They are the largest country in terms of surface area and has enormous amounts of mineral deposits. On top of that, they have huge swathes of arable land (most of which is unused). It is tragic. Irrespective of whatever deposits you have, all of them are useless if the country is being ruled by incompetent people.

The oil being mentioned accrued to money, so you can actually say that oil is money. You can just source your money from other means but in my country oil brings in more money for the government.

Here you have correctly noticed - if you take also the sale of gas for export, you will get approximately the same figures that you indicated.
Regarding "it's a pity that the economy is not diversified" - I recently wrote in my post that it so happened that not everyone uses the brain for its intended purpose. For some, the goal is to steal, degrade, lie at every step, and at the same time continue to fundamentally degrade. Russia has never been an adequate participant in the world community, even during the time of tsarist Russia, even though being the RSFSR (with the USSR), even now :) Read about the global degradation of the foreign economic position - from losses in the resource market to reputational losses in the arms market (2 article after sales of hydrocarbons). Moreover, the losses in the arms market, the loss of customers are associated with the disclosure of a systemic lie about "technologies that have no analogue" in the RF military-industrial complex and its products. The problem came from where it wasn’t expected. If you know, over the last century, the Russian army (using supposedly high-quality weapons) has never fought against at least more or less serious opponents. All their confrontation is aggression against those who are guaranteed to be much weaker, where it is guaranteed that you will not receive a serious answer. So, as soon as the Russian army found itself in opposition with serious opponents (in Syria, Libya, Azerbaijan they were opposed by Israel, Turkey), it turned out that all this vaunted Russian weapons had no efficiency and could not perform their tasks efficiently. The market reacted instantly - the rejection of contracts. Only after a couple of years, the military industry of the Russian Federation lost more than 10% and the trend for a further decline continues. This is a sad reality, although an illustrative example is when the rulers think only about their own personal benefit ...

It is not about just oil reserves, Norway is a nation that cares for its population and that is why they are doing so much better. Saudi Arabia kings make money and they spend it on awesome stuff for themselves as well, just check the royal family and what they own, the whole family, and you will realize that they "could be" richer than all of Norway, because we are talking about a nation that has a royal family that only enrich themselves and let everyone else suffer.

On contrary to that Norway does everything right, get money? Spend it on education for kids, got money? Spend it on healthcare, still have money left over? Put it aside for any need in the future such as pandemic for example. Long story short if you are a decent nation with politicians caring for its citizens then you are not going to end up with anything that is hurtful to anyone, and oil will be a bliss instead of doom.

Apart from the Arab countries and some of the smaller nations such as Brunei and Trinidad , none of the oil producing nations are doing well. I am talking about nations such as Nigeria, Angola, Iraq and Venezuela. In some cases, these countries are in a poor state even when compared to oil importing countries. I would say that only a minority of the oil producing countries have benefited from these natural resources. In most of the cases, the oil deposits have become a curse just like the case with Libya and Iraq.

I disagree. I have another thought - there is nothing in industrial production that does not use electricity and metals! Can you dispute? There is no need to make a fetish of oil ... Oil in one of the sectors of the world is already actively losing ground - motor transport. In the coming years, many auto manufacturers will jam a small or significant part of their products into electric cars, and some countries simply prohibit the sale of passenger cars with internal combustion engines.
Plus, electricity generation using renewable and "green" technologies is becoming more and more available for mass use, and is constantly approaching the volumes generated by nuclear power plants. Yes, natural hydrocarbons are fuels and plastics. But plastics aren't just made from oil. Now a huge amount of waste from hydrocarbons has accumulated, the processing of which can become a source of production of a significant part of plastics. Plus, "non-oil" plastics and their analogues have appeared.

Not only USA, Russia and Saudi Arabia are also Major players of Oil Market and  controlling supply of crude oil. USA is actually manufacturing oil by using Shale oil technology which is very costly process  whereas Saudi Arabia and Russia are floating on Oil lakes so obviously its production cost is much much lower. The problem of USA is Huge debt which is very bad for the dollar in the long term and it will certainly reduce the value of Dollar in coming months and years and American economic growth is very slow compared to China..

- Well, industries as well as many other fields really always need an extremely large amount of oil and this resource is also gradually depleting, only a few countries have an abundance of oil resources, experts have also estimated the duration of this depletion and are building alternative resources, so we might think that oil is important right now but its place in society in the future will be much lower. But research and replacement requires many processes and in that time, oil price wars will still be very strong for countries to seek the greatest benefit for them.

Thats the point and this is what I am trying to tell people on this thread some people choose to argue about the opinion. Besides, the world shouldn't depend only on oil and gas as a means to fuel transportation if we want a healthy environment with less or no carbon emissions.
This will also limit or stop the false calm of the government about crypto mining carbon emission.

Petrol is incredibly energy dense and and really offers an excellent combination of efficiency and utility for the amount needed, so it's no wonder that oil became the dominant source of energy on the planet.  All modern economies were built on the utilization of oil.

Oil has got a very big history. It is not USA, China, Russia or India. There are more other countries that have grown out of oil. In the past fake demands were made by the countries that produce majority of the oil. Through the oil several countries and millionaires have grown big. Now few of those countries are facing its hard days of economic situation. Another thing the world is moving for an alternate solution for the oil usage. Oil won't be in that demand after few years.

   Somehow not just money that we need in everyday, not just money work in everytime. But we Never think that we also used other resources that is also important in everyday like Oil. Oil is one of the Resources we needed like in every day transportation, and second is Electricity, Oil are really needs so that it can produce an electric. I'm not saying that oil is important than money but i just want to explain is both of them are really need to work it easily cause without money we can not buy Oil, and we without Oil we can not produce electricity to make it faster the work and finished it early that's two resources how important to us  balanced.

Hmm ... why argue - just some statistics:

In 2020, the 27 countries of the European Union received more electricity from renewable sources than from fossil fuels for the first time. The share of coal, gas and oil fell to 37%, while wind, solar, hydropower and biomass accounted for 38% of total EU generation, increasing production by 10%.

Wind and sun provided a fifth of all electricity in the EU.
Renewable energy sources (RES) took the lead thanks to the continued rapid growth of wind and solar energy, which increased generation in 2020, despite the economic crisis, by 9% and 15%, respectively. Together they provided 19% (almost a fifth!) Of all electricity in the EU last year: wind accounted for 14%, sun - 5%.

For comparison - statistics on sources of generation for 2019:
  Coal / Peat (38.0%)
  Natural gas (23.0%)
  Hydro (16.2%)
  Nuclear (10.1%)
  Wind (4.8%)
  Oil (2.9%)
  Biofuels and energy from waste (2.4%)
  Solar (2.1%)
  Geothermal, tidal and others (0.5%)

Does anything confuse you in your post?

Total - the volume of electricity generation, from renewable sources, is already significant in the total share. And the process is in fact at the beginning of true industrial green energy production. BUT

Oil prices are not what it used to be, it dropped significantly during last year's pandemic crash, and it never really fully recovered, it is going to be less and less wanted in the future. It doesn't matter how much money they make, which is less around now compared to back in the day, it is all about how many people prefer it. As long as people keep improving the renewable energy platforms, get more energy from solar panels, drop the capital required to build it and so forth, that R&D will come back and result with people using renewable energy.

At the end of the day which one would you prefer, keep paying for oil, or would you rather have something that you pay a lot at first but then free forever? Look at Tesla cars, you wait 30 minutes to recharge it, but then it is free of charge give or take, maybe few cents, whereas cars that run on oil may fill it up in a minute but it costs how many dollars? Eventually people will realize the difference.

Well it never really full recovered back to its ATH, but congratulations who bet on oil big time when it his its ATL. Wasn't it that you could get oil at negative prices? That the paid companies to put oil on their tankers and just park it in the ocean to keep production going despite lack of storage space? Oil was so low that I can't believe I didn't play a nice long position with leverage at some point. Who knows how far it will recover, gasoline prices are about to go to ATH.

I do not know how high it could get, but I know that it will not be as great as it used to be. Everyone around the world is going for green energy these days, which means even though we are still stuck with oil and gas for now, it will not be like that forever, eventually there will be a period in human history where there won't ever be a need for oil ever again, that will take few decades at least that is for sure, but between solar, wind, hydro and few others that I forgot, that is going to be something that is definitely worth looking into.

Plus entry to those business is not as hard as oil is, if you want to drill your own oil out of ground and sell it that is going to take you a lot of money, whereas if you just buy some solar panels and put it on top of your roof that is going to get you started, few thousand at most for a start is a good benefit of this business as well.

It is also worth remembering such a factor as the complexity of the extraction and development of new oil deposits. At the moment, mankind has used almost all "convenient" and more or less easy to develop deposits. There is oil ahead, which will be technologically difficult to extract. Here a problem arises - it does not sound very realistic, but it is a fact - not all countries, owners of oil deposits, have the technologies necessary for research, and even more so for industrial production!

On survival oil might not be a need, but for many countries oil reserve is the only source of major income. So oil is an important thing. Countries like UAE and East Asian Countries could've never be in such heights if there is no oil reserve with them. Batteries are the innovation as an alternate to the oil usage on vehicles.

Perhaps he is mentioning that the power of fiat currency would go down, as crude oil transactions accounts for a large fraction of the international trade. It is being said that the US Dollar derives it power, since it is globally used for export/import of crude oil and petroleum products. And many call the US Dollar as "Petrodollar". Remove the US Dollar from the petroleum trade, and you will find it's exchange rate and value going down drastically. And other currencies, such as GBP and CNY have tried to get themselves established in the oil trade, but they didn't had any success in doing so.