Energy is fundamentally required for a high quality of life, as measured by the UN Human Development Index. Broadly speaking, high consumption of energy countries has the highest quality of life. There are five key facts which everyone should know about oil and gas industry which is described in the following paragraph.
- Oil is important: The world economy has been developing with oil as its lifeblood for over a hundred of year. Oil is directly responsible for 2.5% of world GDP. Oil and gas powers 100% of all transportation facilities, and is heavily involved in every type of economic activity. Except for number of electric powered vehicles, you can’t move anything, anywhere faster than 25 mph without oil. You cannot operate a modern military, and you cannot run a modern economy without oil and gas. Modern civilization would collapse in a matter of months if oil is stopped flowing. Oil is also important for agriculture. It is truly a condition for the continued existence of most of humanity today.
- You have no idea how big oil is: There are millions of pipeline on the planet to distribute crude oil, refined products, and natural gas. The ocean is full of oil and gas reserve. The world’s oil and gas transport infrastructure is a globe-spanning spider web of pipelines and shipping routes. The natural gas distribution pipelines in the US alone could stretch from earth to the moon eight times.
- No other replacement: Not only is oil and gas critical now, but there are no viable replacements in our lifetime. There is no reason whatsoever to think any feasible amount of renewable growth can displace fossils fuels in a couple of generations. Wind and solar are growing exponentially, but from such a small base it does not make even a dent. World oil production was 82 million barrels per day in 2010.
- Oil is wealth: Cheap, abundant energy lifts nations out of poverty. China understands this. Failure to secure energy dooms nations to collapse.
- The oil industry is a really safe place to work: Industry has made strides in safety improvements over the past decade by increasing automation, providing comprehensive safety training, and changing work culture.
Getting to developed nation status requires a lot of quality of energy. Oil is indeed high quality energy. It’s liquid in state which makes it easily moved and stored. It is stable, and it releases a huge amount of energy. It is also much cleaner than coal. If it weren’t for CO2 emission, oil and gas would be a nearly perfect energy source. Look at what their presence has done to the world’s wealth.
Author’s bio:Mark, the author of this post is an all-time software developer. He dedicates himself creating high functionality software for oil industries and also contributes in providing relevant contents upon the usefulness of such software in the websites like oilgassoftware.net