Introduction
Oil is a natural, flammable viscous liquid that consists of a mixture of hydrocarbons with varying molecular weights. Oil also consists of various liquid organic compounds found geological formations beneath the surface of the earth (Maugeri 2006). Oil is a crucial resource in the world economy. Without oil, some human activities would be impossible such as transport. Oil is the most important resource in the economy since it is the backbone to all industrial activities in all countries. Without oil, all economic activities would come to a halt. This is because people cannot process raw materials to finished goods and also they cannot transport products to the respective markets across the world.
History of oil
Oil is the most essential source of energy, and it is likely that this will be so for years to come. Crude oil forms when tons of decaying plant life built up over millions of years compacted under immense pressure over time. In 347AD, the Chinese drilled oil using bits that they attached to bamboo poles (Maugeri 2006). They burnt the oil to evaporate brine and for producing salt. During 450BC, Herodotus described oil wells in Babylon where they used it to walls and towers in Babylon. There were the presence of oil wells in Arderrica and Zacynthus. River Issus, a tribute to river Euphrates also had oil wells. In 325BC, Alexander the Great used oil during battle to scare away his enemies (Brantly 1971).
By the end of 8th century AD, the Baku people were using oil for heating purposes since they lacked firewood. In the 10th century AD, an Arabia traveller by the name Abu-Dulaf described and visited Absheron’s oil sources. Through his visit, he discovered two types of oil i.e. white and black oil. Traders dealing with oil exported white oil in Iraq, Iran and India as a valuable commodity (Maugeri 2006). In 1273, Marco Polo visited Baku in Persia where he witnessed people collecting oil from seeps to be used for lighting and medicine.
Polish people from Poland used oil collected from seeps to provide lighting through street lights during the 1500s. Baku in Persia goes in history as one of the main areas where people got oil (Maugeri 2006). In 1618, an Italian, Pietro Della Valle spoke of the great amounts of oil in Baku. In 1803, people from Bibi-Heybat Bay dug the first offshore oil well in the Caspian Sea. This oil well ceased to exist in 1825 when a storm ravaged all the oil wells in Caspian Sea. In 1814 people discovered oil wells near Marietta, Ohio. This well was about 500 feet dip. There was another discovery of oil deposits in Kentucky which people named Beatty well (Brantly 1971). This took place in 1818. The 19th century was a turning point for oil mining and use. This is the time that marked the industrial revolution. During this time, people used oil for commercial purposes. People used oil in industries which acted as a source of energy.
Importance of oil
Oil is an essential commodity as it is the greatest source of energy in the world today. People use oil to produce products for industrial and residential use. Refined oil produces diesel and petrol which vehicles and aeroplanes use (Gunderson 2004). Oil is crucial in the production of electricity as it provides energy used to turn turbines and produce electricity. Some people in some regions use oil to produce heat during the cold season. Plastic is the most common thing in the world. People use plastic in almost all situations. Oil serves as a basis for plastic production of since it acts as a raw material. Other household commodities that use oil include toothpastes, shampoos, shaving cream, perfumes, deodorants, soap and nail polish (Corley & Tinker 2007). All these commodities have oil compounds that industrialists use to make these products. Scientists use oil compounds to make medicines used to save lives. Pesticides and fertilizers also have oil compounds in their structures.
Oil provided 34 percent of all the world’s energy needs in 2008. Research shows that people will still use oil as an energy source. The IEA (International Energy Agency) states that oil will provide 30 percent of the world’s energy requirement in 2030 (Corley & Tinker 2007). One by-product of refined oil is crucial in the production of cement (Gunderson 2004). When industrialists refine oil, they use the by-products in production of various commodities. These include parachutes, cassette tapes, shower enclosures, tires, lipsticks, computer cases, candles, aspirin, and glycerine among many other products. This shows how much oil is of importance to the world.
Alternatives
In case there is depletion of oil reserves in the world, bio fuels will serve as the best alternative to oil. Bio fuels can be used as a source of energy to drive engines. Alcohol fuels can also serve as alternatives to oil (Sherman & Freemuth 2009). Ethanol in alcohol can be produced from sugar, corn and fibrous plants. These fuels include bio alcohol and biodiesel. Others include chemically stored electricity, hydrogen, no fossil methane and natural gas.
These oil alternatives serve as the best source of energy since they are non-pollutants. This will reduce the rate of pollution in the atmosphere (Roberts 2005). Algae can be used to generate energy for driving engine vehicles. Algae can yield 2000 gallons fuel in each acre of production in a year. Another alternative for oil would be ammonia which has zero emissions and is cheap compared to oil.
Conclusion
There are allegations that one day oil will cease to exist. This poses a risk to all key economic activities since industries require energy to function. Oil is the most consistent source of energy in the globe. People need to use oil appropriately, and governments should set up companies that have skilled man power to search for new oil reserves. Discovery of new oil wells will ensure that the most vital commodity is in plenty. As much as oil is reliable, people should increase their efforts in inventing new sources of energy (Roberts 2005). This will ensure that the world never runs out of energy.
References
Brantly, J. E. (1971). History of oil well drilling. Houston: Book Division, Gulf Pub. Co.
Corley, R., & Tinker, P. B. H. (2007). The Oil Palm. Oxford: John Wiley & Sons.
Gunderson, C. G. (2004). The need for oil. Edina, Minn: Abdo & Daughters.
Maugeri, L. (2006). The age of oil: The mythology, history, and future of the world’s most controversial resource. Westport, Conn. [u.a.: Praeger.
Roberts, P. (2005). The end of oil: The decline of the petroleum economy and the rise of a new energy order. London: Bloomsbury.
Sherman, J., & Freemuth, J. (2009). Oil and energy alternatives. Edina, Minn: ABDO Pub. Co.
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