Oil is basically the most essential commodity in the worlds economy. It usually plays a great role in some of major industries such as petrochemicals, power, chemicals, power and transport. Its high availability have generally made mankind to largely depend on such a product for almost all of their daily activities or needs. Oil and gas exploration is also a lucrative business to venture into as it gives big returns to this grand energy.
Gas or oil exploration is today considered one of the most profitable ventures with very high returns on their investment. The risk associated with investing in such sectors is quite high and many investors may not be willing to invest their money in such projects. Such ventures require big companies or individual who are filth rich and can accommodate any kind of risk. It is known that burning gas actually leads to global warming as well as green house effect but generally very little is been done to curb this menace.
Major oil lobbies run by powerful industrial conglomerates like the British petroleum and chevron have managed to reduce all efforts to reduce the subsidies. The only way now seems to reduce usage of fossil fuels seems that at one time the world will run shortage of fuel and thus pushing the prices up for most users to afford. Grand energy can be derived from these fossil fuels.
Many politicians from various countries have in a number of times raised the global warming issue in various summits held but only little efforts and attention has been seen to be done.
There are several benefits associated with the commodity which include, firstly the product high energy density which can mean a small amount of gas can produce huge amounts of energy. The product has been mostly preferred by most population as it is widely used in automobiles. Secondly the product is generally available.
Gas is widely used by a number of large industries so making it a crucial product. The commodity is not only heavily used in transport sector but also other sector of the economy needs it. It is one of the major raw materials in the production of cloth, medicine and Vaseline. These commodities are also the major source of power. Power generated from such products has been found to be very reliable.
Unlike power generated from solar or wind energy, gas has the potential to produce energy twenty hours in a day without failure. Some engines which run on oil are mature technology as well as highly dependable to use and work with. The same products have their share of disadvantages. The first disadvantage basically includes gas emission from greenhouses simply abbreviated as GHG.
Oil generally has the ability to produce energy throughout without failure unlike energy generated from other sources such as solar or wind energy. Many of mature technology today use oil to run engine. There are also some disadvantages which are associated with the product. These disadvantages are, first the green house gas emission. The production and usage of gas and gas product usually releases carbon dioxide.
Global treaties have generally failed to curb this menace though many individual countries are now trying their best to control the release of carbon to environment via carbon taxes as well as trade and cap. The second disadvantage is pollution of earth and water. Oil spills have been seen to have adverse effect on the surrounding environment such as water.
The exploration and also utilization of oils as energy sources eventually lead to large volumes of carbon dioxide being released in the air. This results to air pollution and water pollution. Some of natural gas usage benefit include, the commodity usually burns clean as compared to cola hence less pollution. This natural product has seventy percent less carbon as compared to many of the fossil fuels.
The next disadvantage increased level of water and also earth pollution. Many companies today are basically disposing their industrial waste products into water bodies leading to water pollution. The pollution is negatively affecting people who depend on fish and other aquatic animals for their source of livelihood. The can be used as a source of grand energy.
Gas or oil exploration is today considered one of the most profitable ventures with very high returns on their investment. The risk associated with investing in such sectors is quite high and many investors may not be willing to invest their money in such projects. Such ventures require big companies or individual who are filth rich and can accommodate any kind of risk. It is known that burning gas actually leads to global warming as well as green house effect but generally very little is been done to curb this menace.
Major oil lobbies run by powerful industrial conglomerates like the British petroleum and chevron have managed to reduce all efforts to reduce the subsidies. The only way now seems to reduce usage of fossil fuels seems that at one time the world will run shortage of fuel and thus pushing the prices up for most users to afford. Grand energy can be derived from these fossil fuels.
Many politicians from various countries have in a number of times raised the global warming issue in various summits held but only little efforts and attention has been seen to be done.
There are several benefits associated with the commodity which include, firstly the product high energy density which can mean a small amount of gas can produce huge amounts of energy. The product has been mostly preferred by most population as it is widely used in automobiles. Secondly the product is generally available.
Gas is widely used by a number of large industries so making it a crucial product. The commodity is not only heavily used in transport sector but also other sector of the economy needs it. It is one of the major raw materials in the production of cloth, medicine and Vaseline. These commodities are also the major source of power. Power generated from such products has been found to be very reliable.
Unlike power generated from solar or wind energy, gas has the potential to produce energy twenty hours in a day without failure. Some engines which run on oil are mature technology as well as highly dependable to use and work with. The same products have their share of disadvantages. The first disadvantage basically includes gas emission from greenhouses simply abbreviated as GHG.
Oil generally has the ability to produce energy throughout without failure unlike energy generated from other sources such as solar or wind energy. Many of mature technology today use oil to run engine. There are also some disadvantages which are associated with the product. These disadvantages are, first the green house gas emission. The production and usage of gas and gas product usually releases carbon dioxide.
Global treaties have generally failed to curb this menace though many individual countries are now trying their best to control the release of carbon to environment via carbon taxes as well as trade and cap. The second disadvantage is pollution of earth and water. Oil spills have been seen to have adverse effect on the surrounding environment such as water.
The exploration and also utilization of oils as energy sources eventually lead to large volumes of carbon dioxide being released in the air. This results to air pollution and water pollution. Some of natural gas usage benefit include, the commodity usually burns clean as compared to cola hence less pollution. This natural product has seventy percent less carbon as compared to many of the fossil fuels.
The next disadvantage increased level of water and also earth pollution. Many companies today are basically disposing their industrial waste products into water bodies leading to water pollution. The pollution is negatively affecting people who depend on fish and other aquatic animals for their source of livelihood. The can be used as a source of grand energy.
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