Question

Is crude oil essential for the development process in a country? Discuss.

Answer 1

Crude oil plays an important part in any country’s development. Flammable gases, petroleum, diesel are all extracted from the crude oil and they have a huge market around the world.

So having crude oil in the country is very essential. India is importing the crude oil and this is the reason why the cost of petroleum and other gases in India is very high when compared to other countries.

Answer 2

Answer:

It would be hard to imagine an economy developing without oil and natural gas, because it is the basis of every industrialized economy on Earth right now. Crude oil provides 97% of the energy for transportation (cars, trains, airplanes) in the world. In the US, oil and gas make about 20% of the electricity. In addition to that, think of all the things we make from oil:  

1) Plastics: just look at all the things made of plastic in front of you right now!

2) Lubrication oils.

3) Petrochemicals for fertilizer, paint, preservatives, pharmaceuticals, cleaning chemicals, etc.  

4) Fabric: most synthetic fabrics are based on petrochemicals  

So, try to imagine a country without all of these things. This would place you back in time more than 100 years in terms of technology.

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