Monday, April 20, 2015

Three Reasons Oil Will Continue to Run the World

By Jude Clemente

While all the buzz surrounds oil prices, the global demand side remains on solid footing: up. Supplying 33% of all energy, oil is the world’s primary fuel. Oil is so important that global demand is ever-growing: 67 million b/d in 1990, 77 million b/d in 2000, and 91 million b/d in 2014. I’ll never understand the animosity of some Westerners toward critical fuels that they depend on everyday, making their lives easier in ways their great grandparents only dreamed of. Oil, after all, is the reason the world is truly globalized. And it’s oil that takes a grandson living in Atlanta back home to Seattle for his grandmother’s funeral…the very same day he learned she passed.

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