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Oil - ‘Black Gold’

Oil is hugely important to humans and life in the 21st century because it can be used to produce petrol which powers cars. But oil is a fossil fuel and non-renewable so it will run out.

Why is it called black gold?

Why is it called black gold?

  • Oil can be called black gold because of its value (so it is like gold) and its colour when it comes out of the ground (black!).
  • Oil is very valuable because it has so many uses.
Oil wars

Oil wars

  • If a country has its own oil fields then it can export oil to other countries and develop.
  • But many countries with oil are at war or have been at war and their oil has been part of the cause of this.
  • This means they have not been able to use their energy resources to develop.
Where is the world’s oil found?

Where is the world’s oil found?

  • The majority of the world’s oilfields are in the Middle East.
  • In 2015, it was estimated that over 45% of the world’s oilfields were in the Middle East.
  • But as technology advances, we are continuing to discover new oil fields and so this may change in the future.
Oil in the Antarctic

Oil in the Antarctic

  • There is a large amount of oil and natural gas underneath Antarctica.
  • Currently, it is deep beneath the ice sheet. But as climate change begins to melt the ice, it may become more accessible.
  • This is likely to present a major global challenge and dilemma as to whether or not we should exploit it.
  • Making use of this oil will worsen climate change and also mean that the Antarctic is no longer a protected wilderness for science.
Where is the world’s oil used?

Where is the world’s oil used?

  • The countries where the world’s oil is found are not necessarily the countries who use the most oil.
  • In general, the more developed country use the most oil.
  • Less developed countries (or developing countries) use less oil.
Global oil usage

Global oil usage

  • The country that uses the most oil per person is America.
  • This is unsurprising given how energy-intensive the lives of many American people is.
  • Many developing and emerging countries (e.g. China and Brazil) are increasing their oil usage as their populations become more wealthy and can afford luxuries such as cars and holidays abroad.
Jump to other topics
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Life in an Emerging Country

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Analysis of Africa

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Analysis of India

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Analysis of the Middle East

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Analysis of Russia

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