Oil Is A Finite Resource - 1320 Words

Oil is a finite resource that is ever diminishing in quantity. In coming years, it will become very scarce and hard to find. While everyone is starting to find solutions to compensate for the imminent forgoing of oil, such as car industries being one of the main ones as they use oil to run their machines mostly, it will be a while before oil can be replaced completely by other things. Even with said replacements, functions that used to be handled by oil will be diverse and complex in nature such as the multiple different energy sources being tested today. Some temporary solutions that are meant to delay the end of oil, and prolong its stay is the method of extracting oil unconventionally. Oil industries and governments across the globe are†¦show more content†¦The depletion of conventional oil will spark a new era that was never seen before. This is because civilization has never seen a regression in technology, but only constant advancements. Without proper preparation, man y technological aspects taken for granted today, will be deemed useless or not very practical for use. Such industries include airlines, trucks, plastic, agricultural chemicals, plastic and the automobile industry. Many of said industries would take a large hit in production value and speed, making them obsolete in the economy, and whatever they used to produce would become of high demand and low production rate. This would become devastating for many other industries as well, as the loss of some standard living objects such as plastic become less and less abundant, its prices would go up and prices of many products with dirt cheap prices would match those of more expensive products. The automobile industry and transportation in general would also be a target for the effects of the loss of conventional, the higher demand of unconventional oil, and its bigger price tag. Its effect would mostly be short-lived for some industries such as the automobile one, as more companies are compen sating and preparing for the imminent oil price surges or it’s complete disappearance with the invention of electric cars and the. The end of conventional oil is the end of many different aspects of human life today, but it marks the beginning of aShow MoreRelatedThe Human Race : A Source Of Energy1549 Words   |  7 Pagesrelied on finite resources as a source of energy since their beginning as a race on the Earth. While humans have used resources such as food in order to provide their bodies with the essential energy they need in order to survive, these sources are relatively much less finite than that of other human resources. This is because human beings are able to grow and produce their own food as they please. Sources of energy such as water on the other hand, which are relatively less finite resource, must beRead Moreâ€Å"Explain and Concept of ‘Peak Oil’, and Outline the Possible Consequences of Peak Oil for the Global Economy†1179 Words   |  5 Pagesof ‘peak oil’, and outline the possible consequences of peak oil for the global economy† The theory of ‘peak oil’ refers to the inevitable peaking and consequent decline in the amount of oil produced in any nation throughout the world. The term ‘peak oil’ usually refers to the time when the maximum rate of global petroleum extraction is reached after which a terminal decline in the rate of production occurs (Heinberg, R. 2003, pg. 97-98). There is an ongoing debate about when peak oil will occur;Read MoreThe Pros and Cons of Wind Energy Essay1134 Words   |  5 PagesHowever, there are many people who are sceptical about how effective this method is. Is wind energy an important part of fighting global warming? 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