Just how dependent are we on oil?

Crude oil and fossil fuels continue to play a significant role in the global economy and is currently a crucial energy source. 

Society's dependence on crude oil can be observed in several key areas:

Transportation: Crude oil and its refined products, such as gasoline, diesel, and jet fuel, are vital for powering vehicles, airplanes, ships, and trains. The transportation sector heavily relies on these fuels, making it highly dependent on crude oil.

Industrial Processes: Crude oil is utilized as a feedstock in various industrial processes. It serves as a raw material for the production of plastics, synthetic fibers, lubricants, chemicals, and other petroleum-based products. Many industrial sectors, including manufacturing, construction, and agriculture, depend on these materials derived from crude oil.

Energy Generation: Crude oil is used for energy generation in power plants, particularly in regions where it is economically feasible. Oil-fired power plants contribute to electricity production, providing a significant share of the global energy mix.

Petrochemical Industry: The petrochemical industry heavily relies on crude oil as a feedstock for producing chemicals, polymers, and other materials used in diverse applications, including packaging, construction, textiles, and consumer goods.

Economic Factors: Crude oil is a globally traded commodity, and fluctuations in its price can have a substantial impact on economies worldwide. Many nations rely on crude oil exports for revenue, and their economic well-being is closely linked to oil prices.