Why Oil’s Gasoline Will Continue to Run America

About 36% of U.S. primary energy supply comes from oil, and 75% of the oil used in the U.S. is for transportation, a sector 95% dependent on oil. This “black gold” dominance is no accident. Petroleum is the world’s most powerful fuel, now supplying a leading 33% of the world’s energy. Oil has a higher energy density, is easier to transport and store, and has greater flexibility in end use. As the basis of plastics, transportation, globalization, and more, the fast accomplishments of petroleum are truly staggering considering that the modern oil industry only began in 1859 when Colonial Edwin Drake drilled his first well in Titusville, Pennsylvania. But, the most critical use for oil today centers on the production and use of its irreplaceable derivatives, namely the gasoline, diesel, and jet fuel liquid fuels that enable transportation and globalization.

from Forbes – Business http://ift.tt/1ejjJWN
via Abogado Aly Business Consulting

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