Petroleum & Economic Impact

Petroleum & Economic Impact Photo

For over hundred years, the World economy has been increasing along with the oil. The oil industry is the world’s important industry and about 38% of world’s energy needs are fulfilled by oil. Most of the product’s price is depends on the price of the oil. Oil accounts for about 1/3rd of primary energy supply and about 2.5% of world’s GDP is due to oil. Oil and gas powers almost 100% of all transportation system which is responsible for 1/6th of total world’s GDP. Oil and gas industries consist of a huge transportation system which possesses millions upon million miles of pipelines for transporting crude oil, refined oil, natural gas and other petroleum products.

  • Impact of Petroleum in World Economy
  • Oil & World Crisis
  • Impact Petroleum in the Middle East
  • Petroleum & Modern Civilization
  • Impact on World’s GDP by Petroleum

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