Origin of Petroleum:
Petroleum, also known as “crude oil” or “liquid gold”, is drilled from the ground. It is one of the fossil fuels which is formed from the remains of ancient animals.
Fossil fuels:
The advantages of petroleum over other fossil fuels are:
1. Liquid state, which is easier to handle and easy to process.
2. Relatively safe.
3. Low viscosity, which turns out to have good flow properties in the engine block.
4. Not so volatile.
5. Good thermal properties.
How does it work?
First of all, Petroleum is HIGHLY REDUCED, which means it has many hydrogens. Petrol is a flammable liquid hydrocarbon derived from petroleum and used as fuel for internal combustion engines. Combustion or burning is the primary chemical process of energy from petroleum products with air mixture.
Did you know?
The fuel used in the jet engines is kerosene, so there is more smoke in the sky when the jet flies.
The economic impact of petroleum:
Petroleum plays a significant role in a country’s economic growth and development. Though electric and gas-based transportations are in the market, petroleum is still preferred as the primary source for the vehicle. Petroleum has been recognized all over the world in the past 200 years. So it is impracticable to replace it. Though many companies came forward and introduced electric cars and bikes, the demand for petroleum still increases. The USA and Saudi Arabia are leading petroleum supplying countries. They are living a moneyed lifestyle through this. Over the years, the cost of petroleum increased steadily as about 45% of the world population used it for transportation. Petroleum is a non-renewable source, but it maintains in the tier 1 position over the years.
1. If there is a petrol or diesel price hike, the price related to this factor like transportation will rise automatically. Thus the cost of lubricants is linked to economic impact.
2. Companies that manufacture paints, tiles, plywood, and adhesives will also impact price hikes because they are crude oil components. Thus the cost of producing goods will increase.
The rise of Alternate sources:
For the future, it is safe and reliable to use renewable sources of energy. A significant move by a USA based car company called Tesla launched electric cars gained more than expected and are looking forward to launching in many countries. Innovative things will change the world to be safer and cost-effective.