It’s easy to understand why oil is so important in our lives. You probably wouldn’t be doing what you are right now without oil, no matter what you happen to be doing at the moment. If anything, you would probably be walking or riding a bike everywhere you went. You would have spent your youth not riding a bus to school, there would be no such thing as cruising and nobody would ever take a road trip.
As a matter of fact, the cease in production of oil would literally bring the world to its knees. Factories would stop running, food would have to be harvested by hand, airplanes would be grounded and you would probably freeze in your home in the winter.
There would also be a loss of a great number of products that you thought had nothing to do with oil. The plastic toys you buy your kids for their birthdays and holidays wouldn’t exist without oil. Your wife would no longer make you late for a dinner date because without oil, she wouldn’t have any makeup to apply.
Because oil is so important, the whole world is affected by it. Shale, your oil and gas magazine, offers these reasons why oil will continue to run the world.
More Vehicles than Ever
We don’t see a near-future when automobile companies produce fewer vehicles. In fact, the demand for transportation is going up. There are rough estimates that drive this point home. Right now, there are about 1.2 billion passenger cars and over 98 percent of them rely on oil. This number will reach 2 billion by 2035 and over 3 billion by 2050. That is some pretty impressive numbers, but there is more.
Sales of vehicles will reach nearly 90 million this year all over the world. This is a 37 percent increase since 2005. And to think this huge gain was made in the midst of a tanking economy that was nearly as bad as the Great Depression.
Globally, we consume about 25 million barrels of gasoline every day. This is in addition to the 27 million barrels of diesel fuel we consume each day. This works out to be about 1.5 million gallons a minute. That’s a lot of driving and flying.
It’s Not Just Us
Currently, there are 82 cars for every 100 people in the United States. China has just seven cars for every 100 and India has just four. AS these nation gear up for the future, this number will rise. Oil is used worldwide, but many parts of it have just recently climbed on board. A rising 83 percent of the world is underdeveloped and their transportation needs are just now beginning to come to light. The wealthiest of the population consumes about 1.6 gallons of oil products a day and the poor consume just over 1/3 of a gallon a day. As the world continues to develop, these numbers will rise dramatically.
It is Used in So Many Products
When people think about oil, the gas and oil that goes into your car is what usually comes to mind. Not many people dwell on the fact that there are many products that use oil. For example, plastic is used in literally millions of products and found in every aisle of any store. And yes, you will find oil in plastic. The clothing you wear may very well be made using oil as oil is used in the production of nylon, rayon and even artificial furs. When you cook your dinner in the evening, you will be happy to know that many of your kitchen appliances rely on petroleum as part of their production.
And this is why oil is so important. Subscribe to Shale today.