Why is Oil Important?
Oil is a natural resource which is useful to us for various purposes. The major use of oil today is done in fueling cars. United States finds the major necessity for oil as this country likes to attain supremacy. The mighty status can be achieved through gaining capability of war making. Oil in general is important for maintaining automobiles, house cooking purpose, airplane travel, making plastics, electricity production and so on. The US military-industrial complex has an important role in the field of media and education. The large part of the federal budget every year is spent for maintaining US military and industries related to that. This profitable business in United States allows the country to develop its war making ability. The preparation for war depends highly on the oil consumption. The planes, missiles, bombs, tanks, ships, subs, guns and so on make use of oil for their functioning.
One-third of oil utilized in America is for industries, residences and businesses. Oil is a major commodity in international trade. Two-third of world GNP is made by oil and oil is considered as an economic catalyst. Oil is very important in many of the human requirements and especially in war requirements. Companies like Lockheed Martin, Boeing, and Haliburton are involved in supplying the required material for the military. These companies get immense profit from all the transactions with the military. The companies make this profit, while they depend exclusively on the natural resources of oil.
As the new technology for conversion of oil to other alternate energy sources has been developed, the consumption of oil for transportation will diminish slowly. The technology is about to be developed and released into the market that can convert natural gas into liquid gasoline, or methane to synthetic crude oil. Due to this new technology, the oil use for transportation might get reduced.