With the development of other avenues of energy sources, there is likelihood of having oil crash in the next few years. This is made possible with the development of electric cars which are going to use electricity and not gas to operate. People are also shifting their use of the grid energy sources to the natural sources of energy. With this trend, there is likelihood that oil crash will be experienced sooner than later.
These developments of new technologies will, however, take place many years to come. There are still a lot of improvements that require being undertaken. It is still not clear when everyone will afford the electric cars. The world will still depend on oil for the next several years. This pegs the question; oil is the driving force of the world economy. Many industries depend on the development of oil. The prices of oil are the driving forces of the world economy. With the effects on the changes of prices of oil and how these changes affect prices of most commodities, it is evident that oil is the driving force of the world economy.
Many people are employed in the oil industry. This is another factor of economic development. There are many businesses which deal with oil and oil products. This is an important aspect of economic development.
Towards hard to get energy sources
The world is seen to be developing towards using scarce energy sources. All along, there has been the use of cheap and clean energy sources to satisfy the nation. This is changing as many nations are moving towards the use of expensive sources of energy. This is evident with the electrification process which is being advocated by many government policies. The use of cheap energy sources like solar energy and wood is being replaced by the use of electricity. This is seen to be changing the dependence on oil.
Oil exporting nations
The oil exporting nations are interested in making the world dependent on oil as long as possible because of the benefits they get from exporting this precious commodity. This is because of the economic benefits they get from oil. The countries which produce oil know that oil is still the only reliable source of energy which is used by all nations. This means that their economies are dependent on the revenue they get from oil reserves. Another aspect is that they get protection and support from stable countries like United States and the UK. The protection is so that the oil reserves that they produce. The United States continue to protect countries in the Middle East because of the benefits they get in terms of oil.
Era of oil shortages
The era that we are entering is that of shortage of oil. This will have adverse effects in my life. This is because of the rise in prices for basic commodities. This will mean that there will be a shortage of oil for many industries. The cost of production will shoot up. This will mean that industries and firms will increase the prices of the basic commodities. The cost of putting food on the table will be higher than what we are having now (YouTube 82).
In the quest to cut costs, companies will lay down staff. This will affect my life as this will mean that it will be hard to get jobs for sustainability. I will have to have additional papers so that I am competitive in the job market (Greene 29).
Transport will also be affected and will directly affect the way I spend my days. This will mean that I spend most of the days indoors so that I cut the cost of movement and transport. This will affect my life as some activities will be eradicated.
Oil will get exhausted
Oil is not like wheat which is grown and harvested annually. The oil that we get is because of the oil reserves that were formed 150million years ago when organic materials were buried 2000 meters deep. There was a chemical reaction that took place which converted the materials to oil. This oil is the one that we get as oil today. This will eventually get used up. There will be no more oil on earth. The oil that we have will be used up in 2000 years time. This will affect the career life of an engineer.
Oil replacement
Oil is a product that is difficult to be replaced. This is because of the energy and the work it is able to undertake. Oil that costs just above $100 is enough to do work that could have been done by 12 people who have worked all year round. Oil that is worth $1 will be enough to work for 25000 human hours. In all these, oil is an invaluable resource that is almost sold free. Compared to human labor, oil is almost becoming our god (Campbell, and Laherrère 72).
Cost product
When we run out of oil, the construction of basic products will be hard. An example is a laptop consumes more than 10 times the weight it has in fossil fuel during construction. A car will consume 27 and 54BBL of crude oil during the time of construction. This shows that when we run out oil, it will be hard to get oil products and this will mean that the construction of basic times will cost more than they are costing now. Life will change exponentially.
Green revolution
The earth we call home has been made green with the products that we get from petroleum products. The 7 billion people that live on earth enjoy a green environment because of the fertilizers that were manufactured from petroleum products.
The calories we ear will be affected by the oil products if it comes to an end. The oil plays an important part in the food that we eat. The end of oil will mean an end to food products.
The liquid that comes from processed oil become many forms as they are converted to many products (Kunstler 28).
In the end, my career will be affected without oil. The products that I study will not be available and this will affect where I will work. The industries that I work will no longer be running and this will affect my career (Roberts 72).
Works cited
Campbell, Colin J., and Jean H. Laherrère. "The end of cheap oil." Scientific American 278.3 (1998): 60-5.
Greene, Nathanael. "Growing energy. How biofuels can help end America's oil dependence." Growing energy: how biofuels can help end America's oil dependence (2004).
Kunstler, James Howard. The long emergency: Surviving the end of oil, climate change, and other converging catastrophes of the twenty-first century. Grove Press, 2007.
Roberts, Paul. "The end of oil." Bloomsbury Paper Backs, London (2004).
Roberts, Paul. The end of oil: on the edge of a perilous new world. Houghton Mifflin Harcourt, 2005.
Roberts, Paul. The End of Oil: The Decline of the Petroleum Economy and the Rise of the New Energy Order. Bloomsbury Publishing, 2005.
Roberts, Paul. The End of Oil: The Decline of the Petroleum Economy and the Rise of the New Energy Order. Bloomsbury Publishing, 2005.
YouTube (2013). A crude awakening: The OilCrash. Retrieved on 18 Nov 2013 from http://www.youtube.com/watch?v=7qGM9ypR-UI)
