A pot of oil

Essay by liuyang84813University, Bachelor'sB, August 2007

download word file, 9 pages 4.9

IntroductionOil this dark thing is one of the world's most valuable sources of energy. It is called "black gold". This essay will discuss the importance of oil to the national economy and world economy. This text will show an in-depth description about how the oil influences the economy. The emphasis in the text is understands the supply and demand theory to explain this questions appropriately. Oils are extremely useful for our daily activities, but extracting and using oils has a damaging effect on the environment and also if we are not careful, oil will soon become rare and very expensive. In this essay, it also will talk about environmental and ethical aspects of use of oil. Besides, the substitutions of oils are important to human.

BackgroundOil plays an important part in our lives. Many million of years ago, oil comes from the remains if tiny water plants and animals.

When there organisms die, they settle in the land and are slowly buried by mud and sand. After million of years, the oil was formed (Mercer, 2003: 14). As we know, oil is one if the world's most valuable resources and our most necessary source of energy. The oil processed into petrol, diesel and other important things. Without the oil, millions of trucks, planes, cars, power station, furnaces heating systems and so on will stop work. Human life will back to remote antiquity. The oil also is a raw material for plastics, paint and countless other products (Parker, 2002:5). It plays an important part in our lives. It dominates our modern world. However, the oil is fossil fuels and it is not renewable. We consume them fast but they are not being replaced. If we keep using oil at today's rates, the oil may run out in perhaps less than...