| Remember the rule on supply and demand? This | | | | essentially the OPEC players that will be the |
| very essential aspect of consumption and | | | | primary source of fuel for the world. However, |
| production has fuelled the world economies for | | | | sooner or later, there will be a shift. |
| more than a century. People require something | | | | What is the problem now? The issue is that the |
| and producers provide the sources. As of now, | | | | demand is exceeding the supply. So many |
| the sources are dwindling, but is it the issue at | | | | manufacturers, new cars made and tons of other |
| hand? | | | | things in the world are manufactured each year |
| Crude oil, a resource that is found at the depths | | | | and the demand never ceases even for a bit. The |
| of the earth's crust, is an essential resource that | | | | projected increase in oil demands is slowly |
| fuels global economies. From its discovery, it has | | | | reaching critical mass and so it is essential for oil |
| changed forever the ways in which human being | | | | companies to find new sources of crude oil or the |
| lived and it definitely has a very powerful effect | | | | future of oil companies will be in jeopardy. |
| on the demands of people right now. The | | | | However, that is a very unlikely scenario. Most of |
| population of the world is multiplying at an | | | | the oil reserves around the world have been dried |
| exponential rate right now and there is so much | | | | up and most of the remaining ones are found in |
| to serve with oil. Crude oil is processed into | | | | the Middle Eastern and African countries, most |
| various fuels and oils, and these components are | | | | are from the OPEC members. |
| used for big industries, for automobiles and | | | | There is a scary apocalyptic appeal with the idea |
| indirectly, it is part of the basic necessities of | | | | of oil companies losing oil reserves. Fuel |
| human beings. Major industrial markets require | | | | alternatives are very hard to find right now and it |
| vast amounts of oil but the world is rapidly | | | | won't be in existence for another three decades. |
| advancing and many countries like China and India, | | | | The current options like nuclear and coal energy |
| need these for the manufacturing industry and | | | | are very unfavourable for the environment but oil |
| the massive automobile industries they have. Not | | | | of course has catapulted most of the climate |
| only those, but also these two countries have the | | | | change issues because of CO2 emissions. The |
| biggest populations. However, it is not only the | | | | true problem that arises here is the exceedingly |
| industrialized countries that require this resource. | | | | high demand for oil. Oil companies can only pump |
| Oil companies especially those participating in the | | | | out too much oil and once they hit the bottom of |
| OPEC are not much help for the fuel demands of | | | | the barrel, what are the people of the world |
| the world. The high prices and of course very | | | | supposed to do? There is a big question right now |
| difficult negotiations make it very difficult. | | | | about what is the best solution, but with the |
| Non-OPEC companies are slowly peaking already | | | | current conditions of economies, it will still be |
| and their resources are dwindling every second. | | | | another Thirty years or so of battle about the |
| Most of the fuel companies only have until a few | | | | dwindling resources and high demand for oil. |
| decades before they scrape the barrel. It is | | | | |