A Rival In Consumption: Petroleum

Land, labor and capital together create wealth and power in countries around the world to build a hierarchical system of countries that rich in resources and promote trade more than ever . In order for the country and its population to prosper hierarchically, it is necessary for ambitious entrepreneurs and workers to collectively set targets and achieve their greatest potential and quality. Common resources of the country often reflect its wealth and economic status.

The United States is a major consumer of petroleum products worldwide, accounting for about 25% of the world's total oil consumption. World oil consumption in 2003 was about 80 million barrels per day, while the United States accounted for about 20 million barrels (Hirsch, Bezdek, Wending, 2005). In order to meet these huge oil demand, the United States relies heavily on oil imports, which for the most part continue to increase far beyond today's 50%. In the long run, this huge dependence on imported oil brings various strategic and safety challenges for the benefit of the United States. The sharp rise in oil prices in 1973 and 1979-1981 proved the danger of dependence on imports. In addition, as oil resources continue to run out, oil prices will steadily rise until the world is facing a serious fuel crisis.

Today, about 90% of the fuel demand for automobiles is financed with petroleum. Oil accounts for 40% of the total energy consumption in the US, but it occupies only 2% of the electricity generation. The value of oil as a portable and intensive energy source supplies electricity to most cars, functions as the foundation of many industrial chemicals, and it is one of the most important products in the world. The top three oil producing countries are Saudi Arabia, Russia, and the United States. Approximately 80% of the world's accessible reserves are in the Middle East, 62.5% of which are from Arab 5: Saudi Arabia (12.5%), the United Arab Emirates, Iraq, Qatar and Kuwait. However, as crude oil comes from asphalt, the reserves in Venezuela are better than Saudi Arabia due to the high oil price (over $ 100 per barrel).