Oil has historically been one of the world’s most important resources, particularly regarding energy supply to both the commercial and domestic sectors.
Although the industry makes considerable contributions to numerous economies around the world, it has also often come under fire for its impact on the environment.
Many leading oil companies have addressed this, using advanced technologies to increase the efficiency of their exploration, production, and transportation activities.
These include BP PLC, Total S.A., Royal Dutch Shell PLC, and Petroteq Energy Inc; they have invested in renewable energies or altered their procedures to become much more eco-friendly.
A barrel of oil produced by these types of firms can do far more than provide energy, so read on as we look at five ways it serves to have a positive impact on our daily lives.
The heat resistant and insulating properties of plastics and other petroleum-based products make them ideal for the manufacture of various kinds of electrical goods.
Televisions, cameras, laptops, smartphones, games consoles, washing machines, and 3D printers are among many products that contain components derived from oil.
Plastics are invaluable where anything electrical around the home is concerned, as they do not conduct electricity and thus offer safety to the consumer.
They are also energy-efficient, consuming just four percent of oil production, while many modern plastics are now recyclable, making them more friendly to the environment.
The textile industry has traditionally relied heavily on oil-based lubricants to manufacture a wide range of products that people use every day.
Atmospheric humidity, temperature fluctuations, and high loads are amongst the key challenges facing businesses that mass produce textiles.
Machines for spinning, knitting, weaving, and finishing all require lubricating to ensure they run as efficiently.
Studies have shown that some oils can increase productivity for the businesses by 150 percent, while maintenance intervals are also significantly elongated, thus reducing costs.
In addition to being used to lubricate the machinery during the manufacturing process, oil is also contained within the majority of modern sports equipment.
Ice hockey helmets, basketballs, tennis rackets, running shoes, and golf balls are among many sports goods where oil is present.
Soccer jerseys are also heavily reliant on polymers, thus allowing manufacturers to create shirts that have been proven to aid player performance.
Top companies like Adidas also incorporate sustainability into their operations, using reclaimed ocean plastic to create sportswear and other associated products.
The global healthcare sector relies on numerous oil-based items for which there are too few cost-effective alternatives.
Plastics are used in a wide range of medical devices, while petrochemicals are required for the successful manufacture of pharmaceuticals.
Other essential elements include high-tech equipment such as CT and MRI scanners, computers, clinical disposables, sterile packaging, and gloves.
Joint replacement components, laundering, equipment sterilization, and emergency transport services are other areas where oil supports healthcare.
Our homes are packed with products that use oil in their products, including construction materials, flooring, furniture, and paint. Many kitchen items, such as dishes, cups, non-stick pans, and detergent, all require oil when they are being manufactured.
Hair color, skin lotion, toothbrushes, sunglasses, pens, crayons, and light bulbs are amongst a ton of other products where oil is used during the manufacturing process.
Even the money in your wallet is now created from polymers – a move that is expected to help reduce the environmental impact of producing it over a long-term period.