oil is important

The importance of oil as a global energy source is difficult to dramatize too much. The growth of energy production during the 20th century was unprecedented, and the increase in oil production has been by far the largest contributor to that growth. For the 21st century, an immense and intricate value chain moved approximately 100 million barrels of oil per day from producers to consumers. The production and consumption of oil are of vital importance for international relations and have often been a decisive factor in the determination of foreign policy .. The position of a country in this system depends on its production capacity in relation to with its consumption. The possession of oil deposits is sometimes the determining factor between a rich and a poor country. For any country, the presence or absence of oil has important economic consequences.

• Category: Importance of oil
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• Website: www.crudeoilbrokers.us