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Oil is not just gasoline and diesel and kerosene. But the oil is a variety of products, such as a sprouted pearl seven schnapps in each tip, a variety of goods used by the man in his daily life, and God creates what you do not know and discover – and the man makes every time a new oil product.
We do not deny that the proportion of oil use for energy sources decreases (this is in favor of oil and its importance as products, as we will explain) as shown in the graph on page 10 of the BP statistics. From 40% in 1991 to 34.2% in 2017. However, despite the drop in the ratio, the daily demand for oil is increasing year by year with an average of 1.056 million barrels. Demand for oil reached unprecedented levels in 2017. Oil production exceeded 92.6 million barrels per day after 65.14 million barrels in 1991.
We conclude low oil consumption despite Increase in total oil demand, the man must use all available energy sources to provide oil as raw material for products without oil substitute and not waste oil as fuel for transportation and production of electricity. .
We do not review all the content of the statistics, but we have only limited our research on some of the effects on oil because it is the only source of income now for the Gulf States.
Proven proved oil reserves (conventional and unconventional) in the world are 1.6966 billion barrels (page 12). After the introduction of unconventional oil (Canadian sand and Venezuelan oil) of 386.6 billion barrels, the total conventional oil is 1.31 trillion barrels. It should be noted that more than half of the traditional (55.8%) is in the Arab countries where the total oil reserves in the Arab countries are 730.98 billion barrels (in addition to the seven Arab countries of the Gulf : Egypt, Libya, Algeria, Syria, Sudan and Yemen).
A question that may come to the mind of the readers Why, although oil is the cause of economic progress in all the countries of the world, it has not played the same role in the world. economy of Arab countries? The answer to this question is another question: why has not oil caused the progress of the economy of other countries where there is oil, such as Iran, the United States? Venezuela, Nigeria and other OPEC countries?
In short, some say – the common justification – why the oil states fall into the trap of the so-called Dutch disease (some say it's the oil curse).
Thank you, Arab visitors today for viewing our site. There is no complete replacement for oil in all its uses (3 – 3) Please let us know or leave a comment below
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