Not just money but oil is most important in the World

[suzanne5223]

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'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.

I believe oil will last for a long time, the presence of electric cars is getting a lot of challenges even from many industrialized countries, they have invested in large amounts of oil so it takes a long time to profit, electric vehicles may only reduce 10% of oil use in the next 50 years .

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.

[Dragonfund]

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.

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.

[milewilda]

I believe oil will last for a long time, the presence of electric cars is getting a lot of challenges even from many industrialized countries, they have invested in large amounts of oil so it takes a long time to profit, electric vehicles may only reduce 10% of oil use in the next 50 years .

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.

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.

[fara_buduk]

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

[DrBeer]

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.

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.

[Ausgewielt]

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.

[RealMalatesta]

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.

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.

[leetcoiner]

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?

[wahyu wida]

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

[jaysabi]

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.

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.

[Koro-Sensei]

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.

[Ngemmeng]

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.

[zhelis74]

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.

[DrBeer]

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.

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"

[Shasha80]

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.

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.

[19Nov16]

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.

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.

[Sithara007]

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.

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.

[Adorakelv]

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

[jaysabi]

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.

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.

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.

[pealr12]

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.