Oil producing countries experiencing hardship.

[X-ray]

crude oil is still as relevant as ever though, the cost to renew all the technological equipment in various businesses and enterprises still costs a lot more higher than the efficiency that it gonna get even if its for the sake of green earth or going green by using more renewable energy it still needs time for the business and even end consumers to renew their car for example, not to mention that right now electric car even considered a luxury that not all people can afford.
even more interesting is that people right now still prefer to buy the hybrid cars that can be fueled with gas and electric altogether for the sake of convenience because they know that there's still too few of an electric station for charging their cars to remove the limited range their electric car can travel.
I still believe that we are still long way to go though and probably take another decades for electric car to be truly a thing for people to buy.
right now, most of people still prefer fossil fueled cars and also in other category of equipments.

[Kelward]

Most of the comments on this thread are questioning the OP about how he got his information on oil producing countries facing hardship, although some oil producing countries like Saudi Arabia and Qatar, are utilizing the proceeds of their crude oil sales for the development of their countries, there are others that have backyard economies. I come from a country that is blessed with crude oil, and is exporting it, but ironically our economy is nothing to write home about, many impoverished people and lack of essential amenities like electricity supply. If some other oil producing countries are like my country, then what the OP said is very true, we're suffering in the midst of abundance.

[Spaceman1000$]

Crude is one of the most valuable natural resources in the world but if you look around many oil producing states are facing serious economic challenges. Before now crude used to be valuable and made many countries wealthy but now nothing like that again. Is it that these natural resources are not enough to keep us going?

Hydro and electricity is making crude to become irrelevant that is why it is not bringing much value,  and people still depend on crude.

Crude oil and its by-product are still very much valuable in any part of the world, for any country that is facing economic challenge that has crude oil, check very well there is something behind it, Saudi Arabia and Qatar and some countries in the world that have crude oil are doing very well with it. Even as most countries want to move away from fossil engine's, the crude oil and its by-product products are still sold in the international market on a substantial amount.  Op, if you know any country in the world that have crude oil and are not doing well except for corrupt countries, please mention them to me?

[Renampun]

Crude is one of the most valuable natural resources in the world but if you look around many oil producing states are facing serious economic challenges. Before now crude used to be valuable and made many countries wealthy but now nothing like that again. Is it that these natural resources are not enough to keep us going?

Hydro and electricity is making crude to become irrelevant that is why it is not bringing much value,  and people still depend on crude.

The world really needs renewable energy to prevent or minimize the bad effects of global warming, indeed it looks bad for oil producing countries but will we continue to have the heart to see the earth getting hotter because of the world's addiction to oil, oil producing countries have sources of income from natural resources!

In other words, it seems to me that not a single oil-producing country is experiencing tough times.

[Huppercase]

Crude is one of the most valuable natural resources in the world but if you look around many oil producing states are facing serious economic challenges. Before now crude used to be valuable and made many countries wealthy but now nothing like that again. Is it that these natural resources are not enough to keep us going?

Hydro and electricity is making crude to become irrelevant that is why it is not bringing much value,  and people still depend on crude.

Are you telling me that Saudi Arabia and Qatar is suffering? Saudi Arabia inflation in the last 10 years was average to be 1.8% and that of Qatar is 1.6%, now tell me exactly what you mean by oil producing countries are experiencing hardship in their economic.

If you say some countries, then I have to agree with you because some of them that are experiencing economy decline is as a result of high level of corruption. Let's make Nigeria as a case study: Nigeria inflation rate right now is around 33%, there is high food inflation rate and the evaluation of the currency has made everything worse because the government actually stop subsidizing dollar to their currency and as we are discussing, the country is very difficult to for everyone and this is because the past people in the government has stole a lot of money, they have loot money gotten from their oil sales and also as a result of oil bunkery by millants. This is what happened in other oil countryside.

[Churchillvv]

I believe you're being biased with your judgements, maybe your experiences and current location or government isn't doing too well even with the natural resources in it. One thing that one must know is that national management is far more important than the natural resources, if a countries management isn't too good I don't except it to maximise its natural resources.

Using UAE as an example and Nigeria my country too, the big difference is national management. If the natural resources in Nigeria today is being maximised then it would been as much as the UAE. Even with the Hydro and Electric based services, I think that will not still push away the values of crude in the world today and in the nearest future.

[dansus021]

I don't see middle East countries facing any hardships as you mentioned tho If I look at Venezuela as the biggest oil by reserve I see the problem there from local war and high inflation rate.
Oil is crucial for now and for future if you see oil as the fuel/gas you wrong because the product derivatives from the crude oil is a lot more than just for fuel.

[Egii Nna]

Crude is one of the most valuable natural resources in the world but if you look around many oil producing states are facing serious economic challenges. Before now crude used to be valuable and made many countries wealthy but now nothing like that again. Is it that these natural resources are not enough to keep us going?

Hydro and electricity is making crude to become irrelevant that is why it is not bringing much value,  and people still depend on crude.

Not all, but some countries that have the cured oil as one of their best natural resources are suffering, and it might be as a result of their government because there are still countries that have this crude oil and are still not suffering, but those countries that have leaders that are highly spoiled with greed and corruption will always be victims of suffering. 

Eventually, hydro and electricity, together with the technology, are starting to be a threat to crude oil because there is a reduced need for it due to those electric cars and machines that are now created. They don’t need to use any source of crude oil, but they can’t do without it unless they reduce the demand, so crude oil is still in high demand in the market, but those countries that suffer even with crude oil in their countries are as a result of their governments.

[Freeesta]

Countries that export oil cannot experience difficulties. What's so difficult about this? However, countries that do not have oil, gas and other resources have difficulties) If you have oil or gas, you don't have to think about how to keep your family warm in the winter. There is no need to invent alternative energy sources or pay money to buy them. There wouldn’t be so many wars on our planet if oil and gas brought difficulties. Their absence is what makes people wage war.

[lixer]

Crude is one of the most valuable natural resources in the world but if you look around many oil producing states are facing serious economic challenges. Before now crude used to be valuable and made many countries wealthy but now nothing like that again. Is it that these natural resources are not enough to keep us going?

Hydro and electricity is making crude to become irrelevant that is why it is not bringing much value,  and people still depend on crude.

As said by others, you should at least mention the counties you are talking about and briefly describe what sort of hardships you are referring to because I don't see countries producing and exporting oil facing hardships apart from a few countries that have sanctions by the UN and can't sell their natural resources to other countries, Iran is one example in this category, but even Iran isn't suffering or facing hardships, the country is great for its people.

There is no doubt that sources of energy are changing over time and a lot of things are being converted from oil-driven to electric such as cars and many machines, but there will always be some places where oil will be required, and as long as that requirement stays, oil-producing countries won't suffer.

[electronicash]

Crude is one of the most valuable natural resources in the world but if you look around many oil producing states are facing serious economic challenges. Before now crude used to be valuable and made many countries wealthy but now nothing like that again. Is it that these natural resources are not enough to keep us going?

Hydro and electricity is making crude to become irrelevant that is why it is not bringing much value,  and people still depend on crude.

As said by others, you should at least mention the counties you are talking about and briefly describe what sort of hardships you are referring to because I don't see countries producing and exporting oil facing hardships apart from a few countries that have sanctions by the UN and can't sell their natural resources to other countries, Iran is one example in this category, but even Iran isn't suffering or facing hardships, the country is great for its people.

There is no doubt that sources of energy are changing over time and a lot of things are being converted from oil-driven to electric such as cars and many machines, but there will always be some places where oil will be required, and as long as that requirement stays, oil-producing countries won't suffer.

we can find countries that are dependent on oil exports that are struggling though. even the countries in the EU have a hard time since the time of Ukraine-Russia war, the prices of oil/gas are making people poorer.

all countries will be crippled without crude, it's what runs the machines and provides energy still. we have been fooling ourselves about EVs. it's only good for a few minute ride in the city.

[GeorgeJohn]

Crude is one of the most valuable natural resources in the world but if you look around many oil producing states are facing serious economic challenges. Before now crude used to be valuable and made many countries wealthy but now nothing like that again. Is it that these natural resources are not enough to keep us going?

Hydro and electricity is making crude to become irrelevant that is why it is not bringing much value,  and people still depend on crude.

the thing that cause some countries that have a crude oil for continuously on kept and also undeveloped it is because of the governing council of that particular country, some countries that have oil blocks I think in there are doing well and they are developing their country with a their natural resources income but some countries that lack management and the leadership and the leadership does not know they measure concept of managing their crude oil and their country

[Hispo]

The problem of some oil producing countries is not about the oil and the value of the oil itself to the markets, as we stand today we cannot survive without oil, thrus the importance of a change on our relation with energy and the way we produce it. The problem with the hardships of some countries which have much oil is the management and the blatant corruption which cripples the ability of those sovereign nations to push forward and improve their quality of life.
I think it has become more than obvious that the quantity of oil is not directly proportional to wealth and quality of life.

Venezuela and Nigeria and both countries with very significant petroleum wells, but both countries suffer from having nefarious political administrations which do not care to use the natural resources properly for the food of the people. On the other hand, we have Saudi Arabia and the United Arab Emirates, which have relatively high living conditions, not as much oil as Venezuela, and yet they have managed to be responsible enough to seek for development.

In the end of the day, it is about corruption and the culture of the people who is supposed to keep leaders in check.

[Negotiation]

Inflation in the country is likely to rise slightly due to the instability of the world market inconsistencies in market management and rising global fuel prices. In addition if the supply chain of the product is damaged due to the conflict situation the transportation costs related to exports mainly to Iran or neighboring regions may increase. Exporters may face tougher competition due to increased manufacturing and supply costs. Saudi Arabia Russia has long been one of the world's largest oil producers and exporters of petroleum it has significant oil reserves and plays an important role in the global oil market. Iraq is a major oil producer in the Middle East and has substantial oil reserves. Despite challenges related to conflict and political instability it remains an important oil-producing nation.

[gunungkembar]

Countries that export oil cannot experience difficulties. What's so difficult about this? However, countries that do not have oil, gas and other resources have difficulties) If you have oil or gas, you don't have to think about how to keep your family warm in the winter. There is no need to invent alternative energy sources or pay money to buy them. There wouldn’t be so many wars on our planet if oil and gas brought difficulties. Their absence is what makes people wage war.

When oil resources are still plentiful and can still be mined well, a country like that will never have difficulty achieving anything. However, we also have to keep trying to find other sources, so that when oil supplies in the world run low, our business will still run. I am afraid that when many countries have a lot of money they will be confused about how to spend this money so that they will create wars that will use their money to buy sophisticated weapons equipment and trigger world destruction.

[GigaBit]

Yes, that would be the main problem. Because if we talk about Saudi Arabia, a powerful country in the Middle East, that country contributes significantly to oil production, but the government of that country has recently been investing a lot in different platforms, such as in football, they have invested unprecedentedly, which even the biggest countries are unable to do. I think there is a big waste of money. Some feel that the country does not want to depend on just one resource. If the decision is wrong, the situation of those countries can be worse. But as long as they have natural resources, they will be rich. And there is no way to say whether the demand for crude oil will decrease or the utilization will decrease. Its demand in the world market has not decreased. There may be instability due to political reasons but the demand is high.

[Mpamaegbu]

Most of the comments on this thread are questioning the OP about how he got his information on oil producing countries facing hardship, although some oil producing countries like Saudi Arabia and Qatar, are utilizing the proceeds of their crude oil sales for the development of their countries, there are others that have backyard economies.

Your examples with Saudi Arabia and Qatar are good enough to point OP in the right against their hasty generalization. We shouldn't use a misnomer as yardstick for judgment on larger scale. Africa is a bad case here and I believe it doesn't apply to the rest developed countries of the world.

I come from a country that is blessed with crude oil, and is exporting it, but ironically our economy is nothing to write home about, many impoverished people and lack of essential amenities like electricity supply.

I guess OP wrote with such memory of countries that have allowed corruption eat into them to the point that the geese that lay the golden eggs for them are neglected. Nigeria is a good example of countries with crude oil as natural resource yet the regions producing it are suffering deprivation. These regions are so deplorable that no one outside those regions would wish oil were discovered in their region.

[X-ray]

Countries that export oil cannot experience difficulties. What's so difficult about this? However, countries that do not have oil, gas and other resources have difficulties) If you have oil or gas, you don't have to think about how to keep your family warm in the winter. There is no need to invent alternative energy sources or pay money to buy them. There wouldn’t be so many wars on our planet if oil and gas brought difficulties. Their absence is what makes people wage war.

well thats true, after all our entire civilization still depends on the gas and fossil fuel in general, but its always good to know that there's alternative so that when we ran out of the oil the entire society and civilization won't crumble.
right now so many companies are experimenting with various source of energy such as hydrogen and so on which is great considering that we eventually need alternative and having alternative is good I guess.

the current industrial complex though i don't expect there to be any massive shifting anytime soon, shifting to renewable, more eco friendly energy requires massive amount of money.
only big companies with big chunk of reserves could afford that like many people said above.
so that means oil producing countries won't even face any hardship in the meantime and probably in the future.
oil still one of the most needed thing ever in the planet earth even until today.

[tsaroz]

Crude is one of the most valuable natural resources in the world but if you look around many oil producing states are facing serious economic challenges. Before now crude used to be valuable and made many countries wealthy but now nothing like that again. Is it that these natural resources are not enough to keep us going?

Hydro and electricity is making crude to become irrelevant that is why it is not bringing much value,  and people still depend on crude.

Renewables, they are making energy cheap and clean. Renewables were in its early form advertised as environment friendly way of generating electricity and necessary to curb global warming. With the economy of scale, renewables now have became a cost effective way as well. Many countries are going renewable to make their energy mix safe of international influence. The decline of oil only economy would be sharp many study suggest we have already peaked oil use and the downfall would be sharp. There might be a small demand but with many countries economy depended on oil, they'll suffer more than they are now.

[fadhilz123]

Countries that export oil cannot experience difficulties. What's so difficult about this? However, countries that do not have oil, gas and other resources have difficulties) If you have oil or gas, you don't have to think about how to keep your family warm in the winter. There is no need to invent alternative energy sources or pay money to buy them. There wouldn’t be so many wars on our planet if oil and gas brought difficulties. Their absence is what makes people wage war.

Oil and gas are resources that are always needed by everyone in all countries in the world, which are needed to move many things in society. However, we all also have to know that oil and gas are also used by weapons factories to be able to produce weapons so they can be sold to countries that need them, so oil and gas can also trigger bad things if they are not used properly. But when it comes to the welfare of the people in oil exporting countries, of course they can all feel prosperity because they are influenced by the condition of the country which is already quite rich.

When oil resources are still plentiful and can still be mined well, a country like that will never have difficulty achieving anything. However, we also have to keep trying to find other sources, so that when oil supplies in the world run low, our business will still run. I am afraid that when many countries have a lot of money they will be confused about how to spend this money so that they will create wars that will use their money to buy sophisticated weapons equipment and trigger world destruction.

From what you say, I think there is also some truth to it because when the availability of oil and gas starts to run out in a country, of course all the people will feel more worried if they don't have other sources they can rely on to continue living prosperously. As for the trigger for war, I think it is not only influenced by the presence of oil and gas resources, but is also triggered by the struggle for strategic areas which in these areas also have abundant resources to be controlled by certain countries.