Oil

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   Facts about Oil:
Primary and most important source of commercial energy
Formed over a long period of time under sedimentary rocks in oceans
 from the remnants of plants and animals.
These remnants are naturally compressed and heated up and then 
converted to liquid petroleum
Half of all oil worldwide is used 
for transportation
Vast majority of the remaining 
oil deposits are found in the 
Middle East.



    Disadvantages of Oil:
 
Oil is a nonrenewable resource
Oil spills can occur which destroy our environment
To be economically valuable, the petroleum needs to be concentrated
Thought by many, that at the given rate of consumption, the world's oil 
reserves will be used up but the middle of the 21st century.
Over the past two decades the new sources of fossil fuels that have been 
discovered have been smaller and of lower quality than past discoveries 
causing oil to be more expensive.
Burning of oil emits green house gases into the environment.
Oil burning also emits chemicals into the air which cause acid precipitation.
Air is polluted at ground level when oil is burned. 2.64 billion tons of carbon 
are released per year into the environment, which is over 30% of all 
carbon emission.
Burning of oil releases atmospheric pollutants such as nitrogen 
Oil reserves are thought to be completely depleted by the next two hundred 
years, which is why alternative energy sources need to be instated at a 
significant level.
Advantages of Oil:
Oil  can be put to a number of valuable uses: heating buildings, running 
machinery, and fueling vehicles (in modified forms).
Oil forms the raw materials for manufacturing goods such as plastics, 
fertilizers, medicines, and others indispensable to the industrial world.
Estimates of the amount of oil reserves left have risen recently as oil 
    is discovered.
Although, some reserves are so hard to access that they become 
    significantly expensive to recover and are not worth the efforts 
    and money.