The current rout of the oil industry is troubling.
Oil is a great resource that has made it possible for humanity to enjoy incredible economic prosperity and helped it achieve great mobility.
In my opinion, we should treat oil with more consideration. In addition to powering our cars, heating our homes and making life so comfortable, it is the source of important materials like plastic, the building block of the products we rely on every day. By overproducing and driving oil prices down, we’re essentially wasting and depleting a great resource that would serve humanity over centuries to come.
So let’s realize the full potential of oil to improve lives and advance humanity. We can achieve that by paying for oil’s real value instead of treating it like a money making commodity instead of a future treasure. The irony is for all those countries blessed with ample reserves of this resource, their mismanaged economies have created limited benefit for their population. And now, their desperation for revenue is forcing them to sell as much oil as they can pump out driving prices down far below its true value.
Conservation and controlled production is the best way to ensure a decent future for this resource and for humanity.