What would the world be like without Oil? How does oil affect the economy?

The backbone of Economic Life:

Oil is the backbone of modern life. It’s in the food we eat, the houses we live in, and the cars we drive. Oil, one of the most important commodities in the universe. The world cannot survive without the possibility and the availability of oil. Planes, trains, boats all but the most vital transportation will shut down.

but what if it all suddenly disappear

Marshall law has been declared to deal with, shipments are being delivered to New York hundreds of thousands are on the road.

What might happen to our cities, our food, our very way of life? The cities are going to face dangerous downfall.

After myth-World without oil:

For 150 years, we have been extracting it from ground. It’s the easy economical fuel that makes the modern world possible. California the Lean River oil, see a black underground pool that contains more than half a billion barrels of oil enough to fuel America for four weeks. One minute from now its all going to disappear around the world. The same thing will happen from Saudi Arabia to the North Sea to the massive tar sands of Alberta, Canada. All the oil that drives our cars, flies our planes, power our factories, even the oil below the ground is about to vanish. Deep underground the first ominous signal appears. We have already taken a trillion barrels of oil from the earth

Exporting countries like Saudi Arabia and Russia will order their boats back home. Their economy will shatter as they mostly depend on the exportation of oil. Saudi Arabia produces 9580 thousands barrels of oil per day while Russia produces 10,835 thousands barrels of crude oil daily. To the US it is a huge blow as it’s the largest oil producer; 12,108 thousand barrels per day. It imports more oil than any other country in the world. Every day the US produces over 8 million barrels of oil but consumes more than twice that amount.

Impacts of Oil on Economy:

Biggest Energy Source:

Crude oil and other liquids produced from fossil fuels are refined into petroleum…