Why Is Oil Valuable?

Oil: lifeblood of the industrialised nations Oil has become the world's most important source of energy since the mid-1950s. Its products underpin modern society, mainly supplying energy to power industry, heat homes and provide fuel for vehicles and aeroplanes to carry goods and people all over the world.

Why is oil so important to the United States?

America is the world's leading producer of oil and natural gas. The oil and gas industry supports millions of American jobs, provides lower energy costs for consumers, and ensures our energy security.

How does oil benefit society?

Crude oil is used to make the petroleum products we use to fuel airplanes, cars, and trucks; to heat homes; and to make products such as medicines and plastics.

Alexander Ross

Alexander Ross

Gaming, Esports & Interactive Media Writer

Alexander Ross has covered the video game industry for a decade, writing deep dives on game design, esports tournaments, VR developments, and gaming culture.