Oil is one of the earth’s most precious resources. It powers the world and it provides mobility for cars, trucks, boats, trains and planes. Moreover, it is an essential resource for chemistry. Plastics, wax and asphalt require oil.
The problem is that it’s limited. Experts say that the supply cannot be increased – or even worse, will decrease – while demand is rising steadily. Thus, prices will increase and, however, it will still be cheap when it reaches another peak price. Matthew Simmons, the chairman of Simmons and Company International, an American investment banking firm, compared the price of oil to the prices of other less valuable liquids and the result is amazing. While people are afraid of gasoline prices topping $4 a gallon, they are spending about $7.45 for a gallon of mineral water and about $8 per gallon of Coca Cola. But the difference is that water will be pouring out of sources and can be turned into Coca Cola in times when there won’t be any oil left that would be easy to provide. Considering this, oil is still a bargain. We can’t afford to deplete it in this pace and often with a lack of efficiency. Alternative energies should be used wherever possible, because there are areas where we depend on oil. Air crafts for example can’t switch to hydrogen cells as automobiles could. Chemistry relies on oil.
Furthermore, saving energy is extremely important. Firstly it saves money; secondly it reduces the dependence on the oil exporting countries and thirdly it will extend the oil age for some time. Time to develop alternative energy solutions.