Story of the bloody oil.

Modern Era.

Once it was called liquid Gold. Oil is most valuable source of energy up to date. One barrel of crude oil would do nothing to an economy of a country, but oil is sold in millions of barrels per trade, brought by massive tankers all around the world. Oil is major part of any company portfolio, including famous Harvard institute (Ps: in recent years Harvard PF has reduced their oil exposure to less than 2% but crypto and gold exposure increased). Even surpassing Gold as a way of a class of asset in many cases. Just a few sentences are enough to emphasize the fact that, oil is the real motor of all our economic activity. It may not be in the future. But for now, we have to settle for that fact. Iran war has reduced the doubts in any mind. I cannot even hear, any environmentalist talking about climate change as it is totally obliterated by news on rising oil prices and missiles. Maybe they find it difficult to gain funds to have a media appearance.

Victorian Oil

Story of oil in Victorian era.

Before fossil fuel was discovered in the beginning of the last century, oil came from, plants and animals. In the Victorian Era, the rising demand for oil had made it an industry to tap the sources of oil. The great majority of this supply was harvested from the largest Mammal on earth, the Whale. Yes, I am talking about Moby Dick and whaling industry of 18th Century. In a world where oil was a scarce resource, even than today, to power ever expanding economies and demand, people have killed thousands of whales per day, to harvest their blubber, to extract oil at refineries, like ones we have today. That is the true extent of the bloody nature of oil business. If you search for it, you may still find a video or two where they show how whale hunting occurred and they were skinned, near shore, until whale hunting was banned in 1980's. Today oil is still a bloody business, indirectly responsible for some starvation, and famine and war, in less so fortunate countries. It will be a bloody business until world runs out of oil in the future.

Future of Oil

Fossil fuel will run out in 50-60 years; story of oil would end there. So, a child born today, would have a peep into this era, of no oil to burn. Hopefully countries will turn into other sources long before it happens. Yet, as for now, it seems a distant future dream. Only 8% of global energy supply is still covered by renewables. But we will not only miss oil. There are thousands of petroleum products that we are so much used to nowadays. From Medical equipment's to clothing, plastics to lubricants. I am not sure there are even any replacement available for every one of these products. At least some of the factories would stop functioning, and some of the comforts we have today would not be a viable option in the future. "It doesn't matter to me" is the right response when I look at it as a capitalist with ever greedy eyes. But, if I looked at is as a philanthropist, I would be more concerned. Plant more awareness, encourage more research and write about it again. Maybe we can change our planet before we think about others if we get together for a purpose.