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Another advantage of natural gas is that its usage can help in the conservation of other fuels like petroleum which is fast depleting.Natural gas also enables the production of alternative sources of energy.
The school bus couldn't make it to school without gasoline. Lubricating oil is also used to keep our automobile engines from getting too hot and to ensure that all moving parts of the machinery are kept in good working order. And people's homes and offices, if heated by oil, would freeze in winter. Here are just a few examples: farm fertilizers, plastic toys and other plastic goods, cosmetics, detergents, and nylon clothing. Because oil is so important, the whole world is affected by what happens to this vital commodity.
In fact, our world would almost grind to a halt without oil. This past week an important oil meeting took place in Geneva, Switzerland.
Four of the 13 countries come from the oil-rich Persian Gulf.
They are Saudi Arabia, the world's largest exporter of oil; Qatar; the United Arab Emirates; and Kuwait.
The drop in oil prices has naturally hurt the oil-producing countries.
Mexico , Nigeria, and Venezuela, for example, now find they don't have nearly as much money as they had hoped.There are numerous electric utilities that use this fuel to generate clean power.The gas is also a raw material for manufacturing solar panels and energy-efficient materials.Therefore, there exists a case to increase the usage of natural gas in our daily lives.The importance of natural gas can be gauged from the fact that it is a necessary chemical component for numerous products.Owing to this escalating demand, there has been a tremendous pressure on the conventional sources of energy like coal.Ongoing development coupled with human greed has also raised fears about sustainable development.Mexico, one of the world's biggest, is not a member. It is true that while OPEC countries do not by any means produce all the world's oil, they have the ability to set the guidelines for world oil prices.This was certainly true 10 years ago, when OPEC increased oil prices four times.Many of the oil producers that have been making millions or billions of dollars from the higher prices are now finding they are in trouble. There has been less need for oil because the economies of the world are in a slump. And because of the steep oil price, many countries have decided to save oil by using less of it.Another way countries avoid the high oil price is to turn to other sources of fuel. The result is that today the world is awash with oil simply because the demand for it has gone down. Gasoline prices in the United States went down about 10 percent last year.