Should a country discover oil, it becomes a turning point for them since oil is a precious and rare commodity which can even help them reduce their national debt. The discovery of oil in a country is perhaps one of the reasons that most countries cannot contain their excitement when it is discovered in their jurisdiction. Some of the reasons that make oil mining ideal are briefly highlighted below.
With oil being a rare and precious commodity, a country can use it to repay its debt to another country. By doing this, a country is able to quickly gain financial freedom since oil is quite costly. Income for the sale of oil can also be used by a country to invest in projects that can bring then national income.
When you compare solar power to using oil as a source of power, oil is more reliable. The reliability of oils as a source of power ensures that you are able to use it throughout the year unlike solar power which may be affected by weather and seasonal changes. There are also structures in place that help to ensure that oil in mined and utilized well when it is used as a source of power.
With oil mining, there are other byproducts that are produced that make the process useful since they add a little spice to life. Some of the byproducts from oil mining, include but are not limited to footballs, cameras, candles and even refrigerators for food. Thanks to the oil mining process, some byproducts become available that help to make life easy.
with oil mining there is avenue for job creation. There is a lot to be done during oil mining and the process provides jobs for those looking for blue and white collar jobs. A country can gain more economic and financial stability with the creation of jobs with oil mining.
The discovery of oil helps a country to have various economic adjustments. Some of the adjustment may include hotels, hospital, schools and the building of roads. A country benefits when such infrastructures are built since they are able to help the citizens grow and more so the citizens that live near the area where oil is mined.
When an area is opened up, oil mining can make an area have international recognition and this can be quite beneficial. Businesses in the area can benefit greatly from international publicity which can help in the expansion and establishment of such businesses since they are able to get clients and this helps to boost their growth. Publicity is also good for the area since it enables them to get free marketing for their products and services that can lead to great sales.