Impact of the Oil Industry
- The production of crude oil is imperative to the global economy due to its wide use in modern society
- You need to be aware of the environmental and social impact of using crude oil and discuss its importance in politics and effect on the economy
Environmental Impact
- Burning oil releases large amounts of carbon dioxide, a greenhouse gas
- This contributes to global warming and climate change
- Fuels may contain sulfur impurities
- The sulfur will oxidise when the fuel is burned producing sulfur dioxide which causes acid rain
- These pollutants affect everywhere, not just the countries that use crude oil as a fuel
- Oil spillages can have a devastating effect on the local environment, killing animals and destroying habitats
Political Importance
- Growing countries such as China consume greater amounts of energy using crude oil year on year
- Supplying that energy using crude oil is not sustainable in the long term
- War or conflict in oil producing countries can result in oil supplies being cut off to other countries
Social & Economic Importance
- The price of crude oil is controlled by oil companies meaning they have a huge influence globally on the economy
- This can make it difficult for poorer countries to afford oil
- The increased demand for a non-renewable resource will cause prices of fuel to increase
- This will affect heating and travel costs and indirectly cause an increase in food prices
- Many important products such as plastic and medicines are made using components of crude oil
- With crude oil stores diminishing, the choice might have to be made between burning our remaining oil reserves or using it for other purposes
Image from Chris LeBoutillier on Unsplash
Burning crude oil contributes to global warming and climate change
