Essay Example on Oil: A Necessary Evil

Oil is one of the most treasured resources that also stands as a major determinant of economies around the world (Toman et al., 2008). Crude is the product that is drilled from the ground, which is later refined to produce a wide range of products around the world. These products are used in many sectors with the energy sector and locomotive sector as some of the primary beneficiaries of the oil resources. There are also challenges linked to this resource such as the natural resource curse that has paralyzed political stability in several oil-based economies. Other disadvantages include pollution. Therefore, this paper discusses oil as a necessary evil around the world.

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According to Cordesman and Al-Rodhan (2006), oil is one major resource that is responsible for running the economies of several countries around the world. Some of the major oil-producing countries around the world record a high GDP from exporting oil. It is also evident that some countries around the world have for long been considered as oil-based economies. These economies have thrived to establish their infrastructure as well as technology from the return accrued from oil.

Reliable fuel is one of the major drivers of most economies around the world, and this can be assured by the availability of oil fuel. Oil products such as automotive fuel and aviation fuel is another major benefit of this resource. Despite the fact that technology has changed over the years and critics raised against the hazards of oil on the environment, the most automotive and aviation technologies are still dependent on oil fuel. Some of these important products include petrol, diesel, and kerosene among others. These fuels are used to run engines of vehicles, trains, generators, ships, boats, ferries, and airplanes. Practically, all the three modes of transport, land, air and water use petroleum product to run engines. It is important to recognize the fact that most people around the world heavily rely on these modes of transport to move from one place to another.

Another importance of the oil resource is calorific levels and diverse applicability that are far above other fossil fuels known around the world. Take an example of coal which has been proven to be less efficient to the oil products. The oil products can be refined to make them suitable for serving a wide range of fuel demands. In addition, oil products are useful inputs in the production of plastic materials such as plastic bags. This makes the use of oil a extremely necessary in most economies around the world. Oil can be used under all weather conditions as compared to other renewable sources of energy like wind, sun, and hydropower.

Despite the many advantages of the oil products, it is evident that some demerits are associated with the use of this resource. One of the major global concerns as far as the use of oil products is concerned is the high amount of greenhouse gasses that the product has produced over the years. It has been scientifically proven that after burning oil products the smoke that is emitted has been linked to climate change around the world. Most countries around the world have discussed the issue of climate change including global summits and protocols signed such as the Kyoto protocol. The pollution concerns linked to the oil products has to lead the calls for countries to consider green energy. Some of the environmental impacts cited include loss of ice caps and biodiversity loss. Another major concern of oil-related pollution is the ozone hole, which allows harmful rays from the sun to penetrate. These harmful rays are capable of causing cancer. Scientists have often made all efforts to establish green energy technologies as a means of facing out oil product.

The oil resource in some oil mining states around the world has been associated with political stability CITATION Jef14 \l 1033 (Frankel, 2014). The natural resource curse is a major topic that has characterized most developing countries that attempt to sustain their economies basing on the oil resource. There have been battles to own oil field which has contributed to political instability. Some terror groups around the world are believed to receive funds from the lucrative oil resource. This has been a global security concern as far as the topic of natural resource curse is concerned.

Finally, there is a concern around the globe that oil is a finite resource whose use can only be limited to time. Oil reserves were formed over millions of years ago after the dead organic matter was buried under the ground for millions of years. The current dependence on oil is likely to change in future once the global reserves have been depleted. According to Jaffe et al. (2011), many scholars such as Collin Campbell had predicted the depletion of most oil reserves across Europe. Jaffe et al. (2011) also explain that this depletion will increase the stress on the remaining resources in the middle east. This implies that the world can only depend on oil-based fuels for several years and not for eternity. It does not compare to the sustainability assured by other sources such as the wind and solar energy.

It is beyond any doubt that oil is one of the major global drivers that has often been regarded as the black gold. Oil is a necessary evil because all its demerits do not seem to stop the world from depending on it. Oil products have been linked to pollution and unsustainability, but still, no efficient fuel substitute has been established to run engines, vehicles, generators, ships, planes and other locomotives currently dependent on oil. The natural resource curse characterized by political instability does little to affect the global oil demands.

References

BIBLIOGRAPHY Cordesman, A. H., & Al-Rodhan, K. R. (2006). The Global Oil Market: Risks and Uncertainties. Washington: CSIS.

Frankel, J. A. (2014). The natural resource curse: A survey of some diagnoses and some prescriptions. Retrieved from Faculty Research Working Paper Series: https://wcfia.harvard.edu/files/wcfia/files/jfrankel_natural_resource_curse.pdf

Jaffe, A. M., Medlock, K., & Soligo, R. (2011). The status of world oil reserves:: Conventional and unconventional resources in the future supply mix. Retrieved from James A. Baker Institute for Public Policy: http://www.bakerinstitute.org/media/files/Research/15260210/EF-pub-WorldOilReserves-101911.pdf

Toman, M., Curtright, A. E., Ortiz, D. S., Darmstadte, J., & Shannon, B. (2008). Unconventional Fossil-Based Fuels: Economic and Environmental Trade-Offs. Pittsburgh: Rand Corporation.