Is crude oil essential for the development process in a country ? why ? -SST 10th

1 Answer

Answer :

  It would be hard to imagine an economy developing without oil and natural gas, because it is the basis of every industrialized economy on Earth right now.  Crude oil provides 97% of the energy for transportation (cars, trains, airplanes) in the world. In the US, oil and gas make about 20% of the electricity. In addition to that, think of all the things we make from oil:  - plastics: just look at all the things made of plastic in front of you right now!  - lubrication oils  - petrochemicals for fertilizer, paint, preservatives, pharmaceuticals, cleaning chemicals, etc  -fabric: most synthetic fabrics are based on petrochemicals  So, try to imagine a country without all of these things. This would place you back in time more than 100 years in terms of technology.

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