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Brief history of energy and oil/gas globally. this is my information on global energy & oil/gas present day:
Present: In todayâ€™s world, the topic of energy is discussed when it comes foreign policy. The pricing of oil and gas are the most closely watched commodities in the global economy. The demand for oil/energy is going to increase 30-40% by 2040.
There are several types of energy used around the globe in several countries. Global energy ranges from oil, coal, natural gas, nuclear, solar, wind, hydroelectric, and geothermal.
Major produces are Saudi Arabia, Russia, United States and China. Global energy has its proâ€™s and cons. Proâ€™s is that its reliable (you can find it in areas that have it such as oil can be found mostly anywhere in the Middle East), cheap to get from workers or the fact that we don’t have to put a lot of money into getting it. Cons is that its nonrenewable or unsustainable. A lot of oil producing countries still lack the resources to strengthen their economy.
Money: when it comes to money, oil is 80% of the revenue for Saudi Arabiaâ€™s government. For the United States, oil creates new investments. Energy has a huge impact on our global economy by creating jobs in farming, construction and manufacturing which is the leading employment in all countries. The international energy agency predicts that the oil/gas will increase dramatically due to developing countries with new discoveries.
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