Fuel source of the world
The 19th century was a period of great change and rapid industrialization. The iron and steel industry spawned new construction materials, the railroads connected the country and the discovery of oil provided a new source of fuel. The discovery of the Spindletop geyser in 1901 drove huge growth in the oil industry. Within a year, more than 1,500 oil companies had been chartered, and oil became the dominant fuel of the 20th century and an integral part of the American economy.
11 common uses for oil is transportation (Gasoline, Diesel, and Jet Fuel), asphalt, military defense, fertilizer, heating, feedstock, petrochemicals, plastics, polyurethanes, solvents, electrical, and electrical generation.
Where is oil found?
The top 10 oil reserves in the world are Venezuela, Saudi Arabia, Canada, Iran, Iraq, Kuwait, UAE, Russia, Libya, and Nigeria.
long term affects of oil on the enviroment
spilled oil can harm living things because of its chemical constituents are poisonous. oil call also smother some small species of fish or invertebrates and coat feathers and fur.
Future of the oil industry.
The future for the oil and gas industry has changed. For over 100 years the story was one of growth in production to supply a largely Western-Driven market, and of competition between private companies for access to reserves. Since 2005, oil prices have moved to a permanently high level. Other industries are capturing some of the demand for transport by producing more efficient engines, vehicles, ships, and aircrafts, and by applying alternative fuels. New technologies are providing diverse but uncertain opportunities for producing "unconventional" oil and gas in many parts of the world. There are also still opportunities for private-sector companies in the traditional oil-exporting countries where the industry is under state monopoly, but generally these will involve cooperation with the state controlled oil or gas company. Finally, there is a question of who will carry responsibility for the physical security of Middle East oil exports now that these mostly go to Asian Markets rather than the US or Europe.