Oil producing countries experiencing hardship. - page 4.

avikz

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Quote from: Sobz on May 08, 2024, 08:59:27 AM

Crude is one of the most valuable natural resources in the world but if you look around many oil producing states are facing serious economic challenges. Before now crude used to be valuable and made many countries wealthy but now nothing like that again. Is it that these natural resources are not enough to keep us going?

Hydro and electricity is making crude to become irrelevant that is why it is not bringing much value, and people still depend on crude.

What hardships you are referring to?

Oil is still one of the most exported commodities around the world. Do you think some electric cars will reduce the usage of oils? Probably in distant future it can happen but not now atleast.

Please remember that battle tanks and fighter jets do not run on electricity!

Alphakilo

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Quote from: Sobz on May 08, 2024, 08:59:27 AM

Crude is one of the most valuable natural resources in the world but if you look around many oil producing states are facing serious economic challenges. Before now crude used to be valuable and made many countries wealthy but now nothing like that again. Is it that these natural resources are not enough to keep us going?

Hydro and electricity is making crude to become irrelevant that is why it is not bringing much value, and people still depend on crude.

This is not entirely correct. Crude is still as valuable as it used to be in many west African countries. They are yet to catch up with the rest of the world on hydroelectricity, solar, wind and the other renewable sources of electricity. They are still bent of refining crude and some powerful people in the government will easily block any other option because they own a lot of oil blocks and will be at a loss if they allow it.

Recently, Tanzania generated so much power from their hydro plat that they had to shut down some of their dams because it was producing too much electricity for the country.

Obulis

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By implication, the use of crude oil products for power still remains highest when compared globally. Also, the hardship of some oil producing nations is obvious but not all oil nations... May be misappropriation of different kinds might have moved them from oil boom to oil doom.... Pending when they're ready to realign there economy.. As crude oil products still remains highly used daily worldwide.

Die_empty

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Quote from: Sobz on May 08, 2024, 08:59:27 AM

Crude is one of the most valuable natural resources in the world but if you look around many oil producing states are facing serious economic challenges. Before now crude used to be valuable and made many countries wealthy but now nothing like that again. Is it that these natural resources are not enough to keep us going?

Hydro and electricity is making crude to become irrelevant which is why it is not bringing much value, and people still depend on crude.

I have not been to the Middle East but I know that many oil-producing nations in that region are doing well economically. Foreigners especially from developing nations might suffer hardship in some of these oil-producing nations in the Middle East as we heard during the preparation for the World Cup in Qatar where immigrant workers were abused,misused, and short-paid. But their citizens are enjoying a high standard of living.

It is not true that new inventions like electric and hydro power is making crude obsolete. The demand for crude have not reduced due to these inventions. Major crude oil consumers might not switch to clean energy for decades. The demand for crude will keep increasing because switching to electric-powered machines or automobiles is very expensive. Many countries are not even making projections on when to end fuel derived from crude.

The only reason why major oil-producing nations are poor is because of corruption and bad leadership.

Maus0728

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Any news stories that would support your claim, I do keep track on global news even just a little in my phone and check on it daily, so far, there's no big news that's shown there so I'm surprised that you're saying this one already it's a really weird that they're experiencing those hardships, it takes a lot for these countries to go down or even have bad days so I'm genuinely curious why you're saying this without giving out any kind of context, articles and/or news to tell us what's going on.

You don't know what you're talking about do you? Electricity is produced by power plants that consumes a lot of those crude that you're talking about, if it's not present then there's no way that electricity would function. Regarding hydroelectricity, there can only have so much dam to be built before we can't sustain the need for energy of our civilization on hydro power alone.

jrrsparkles

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I don't see middle East countries are facing any hardships as you mentioned they're the biggest producers of crude oil whereas Russia is also have huge resources but they're facing sanctions which makes it difficult for them to trade their natural resources and make money out of it.

Sobz

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Crude is one of the most valuable natural resources in the world but if you look around many oil producing states are facing serious economic challenges. Before now crude used to be valuable and made many countries wealthy but now nothing like that again. Is it that these natural resources are not enough to keep us going?

Hydro and electricity is making crude to become irrelevant that is why it is not bringing much value, and people still depend on crude.

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