Oil and fuel crisis is one of the most crucial problems of a country suffering from it. The crisis can be because of many reasons, but we will discuss the political and accidental incidents in the past and in the present that are happening in the market. Accidents and political attacks can result in a bad ending and people can possibly end up in jails but today bail bonds have become of great importance, and people can get away with whatever they do, and the cases just linger on in courts of law.
An Important Incident of the Past!
One of the most important incidents in the past regarding the fuel crisis is the Suez Canal issue between Great Britain and Egypt. What happened was that when the British Prime Minister Winston Churchill was sacked by the Queen of England because of the smog issue because of his government. A series and a layer of problems were faced by the British. The cabinet appointed Atley as the new prime minister in his era the British Government. Faced this oil issue and had a war with Egypt. The British Suez Canal was seized by the armed forces of Egypt which resulted in zero import of oil and oil reserves going down. The crisis was so severe that only two days reserved were left when the British army charged back and the war started.
This war and this crisis resulted in a political loss for the Prime Minister, and the Queen and Britain had to face tremendous international pressure and more than that a damaged goodwill.
Importance of Fuel in Society!
Fuel is a very important part of a developing society. We all know that from our kitchen stoves to our cars and industries we need fuel and oil to run the business. Almost 80% of our daily lives depend on fuel may it be petroleum fuel, may it be coal or even electricity. Starting our lives with running water through taps till the moment we get into bed and turn off the lights, we are surrounded by appliances and machinery that works on fuel in one way or another. It is very important for us that when we are using fuel and power at this large scale, we should keep it abundant and safe. Other than that we should try and find a solution to reduce fuel consumption and shift to somewhat eco-friendly measures.
Managing Our Reserves!
If we look at a country’s fuel consumption, we will see that the maximum consumption for fuel is with the cars and transport fraternity of the country. If we look around the world, we can see that all of the large economies of the world are shifting towards a friendly manner or fuel consumption and are shifting towards hybrid systems and electric transport system. The dilemma of the world is that no matter what fuel type we shift to there is no management of consumption, there are no set rules and laws which restrict a person to consume a limited amount of fuel rather what happens is that we use that particular fuel to the extent that it goes out of existence and production.
We must stop this, and we must manage our reserves. According to international reports, we even don’t have much reserves of water left. So this issue must be managed very carefully, or else we will run out of our reserves. As mentioned before the transport technology of the world is shifting towards electric cars. This is yet another way of saving fuel and reducing the cost of transport along with boosting the economy.
Tesla- The Future of Transport?
Tesla is the first company to introduce the first-ever electric car. The Tesla models are capable of running over 600kms with one recharge, and this is a very feasible solution to save oil reserves. But on the other hand, we should also see that whether we will be able to produce this much electricity if we shift totally on electric vehicles. It is obvious that we have to produce electricity for these cars as well and the production takes a large amount of fuel as well so for the time being it is fine to use electrical cars but in the long run we should come up with some ways to shift our energy to solar and hydropower production and consumption.
A few years back, Toyota introduced a new model of Prius that had a solar roof and was capable of charging some part of its battery with the solar energy, but that was not a successful project because a car needs to be run with a power equivalent to a fully running house. That it means to turn it into a solar consuming unit fully it takes a lot of space and a new design and technology which in fact scientist are working on currently. Along with the solar power scientists are also looking to shift our transport and industries to hydropower, and we are also looking into cleaning and using the seawater for commercial use, but for that, we have to go a long way, and we have to make sure that marine life is not affected by this.
Other Losses from Fuel and Transport!
Talking about the marine life we must look into this matter seriously, and already our oil transport ships are spilling a huge amount of oil into the oceans that are resulting into loss of marine life and animals. Wildlife authorities have made strict laws for sailors and navy personnel to keep a regular check and balance on this situation.
The Terror Attack On Saudi Arabia – 2019
You must have heard of the recent incident and terror attack on the Saudi oil production house. You will be surprised to know the details of the incident. Almost 25% of production has decreased, and it has affected the economic conditions of the world very badly or if it still hasn’t it is likely that fuel prices are going to be high in the near future, and middle-class people and people on a low income are going to suffer a lot due to this issue. As Saudi Arabia is one of the largest oil producers and suppliers of the world, then it is understood that it would have very severe effects on the supply. Third world countries who don’t pay for the fuel or have different contracts and facilitation by the Saudi Govt. they will also face a lot of issues in this regard as it is likely to be said in the market that Saudi Arabia is going to cut supplies for its own use. Now it is very much important by countries that depend on foreign oil reserves to manage their own consumption.
Iran and America – The Rivalry
Due to the strains between America and Iran, the recent oil crisis is expected to flare up more. We know that Iran is also large producers of oil and gas reserves and due to its unhealthy terms with the United States, many countries that are an ally to the United States are not allowed to sign any contract or get any supply from Iran on any terms and conditions. As many of the allies of the United States are dependent on their funds and loans of billions of dollars so they can’t really deny the US president and so Iran being the largest fuel producer is yet one of the smallest suppliers.
Recently China is looking forward to bridging this gap between Pakistan and is trying to negotiate terms with the supreme leader of Iran to supply their reserves to China through Pakistan. The United States is not at all at talking terms with China and China also finds the United States to be pathetic and overrated so they usually have this type of ups and downs and their foreplay affects the world a great deal.
CPEC
The CPEC project of Pakistan and China is also one of the most rated news in the world, and it has also created hype in the recent years as America is not fond of Pakistan to sign and complete this project with China and wants the contract to end as it will affect China a lot. Pakistan, on the other hand, is said to be in a situation in which it cannot simply deny America or turn their backs on China as the Chinese are the only support of Pakistan with their contact fury with India, so let us see what the future of the economy is in this region.
But in the end, we must lay the importance of saving or natural reserves and fossil fuels for our future, and we should try and shift to technologies that run on natural reserves and are not posing a threat to the upcoming generation. It is high time for the world to think that what they have to offer and what they will leave for the many generations yet to come in the future.
