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Oil Industry Overview

Elad Hillman
Senior-University of Michigan
Business Administration

Our Dependence on Oil

Oil is an essential resource to our modern lifestyles. As the world's premier source of energy, oil generates 40% of the world's commercial energy. It has powered economic and population growth over the last century and a half. Ninety-five percent of land, sea, and air travel run on energy generated from oil. The Haber-Bosch fertilizer-creation process and many other fertilizer processes rely on oil. On a personal level, we need oil for our automobiles, for our heating systems, and for our power supplies.

Rising Global Demand

"Global demand for oil has increased seven-fold over the past half-century due to rapid .....<---Click to Read Full Article


Oil Production- OPEC -Learn From Canada

When oil prices fall, they lose money. Yet Canada is at the forefront of trying to get off of having an economy based on oil production. >More


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