Petroleum is one of the most widely used fossil fuels worldwide, making itself a highly valuable fuel source As a result, it has impacted the world’s economy in ways we don’t even understand.
There are so many reasons why petroleum is widely used! Here are some of its advantages and disadvantages:
Advantages:
1. A large amount of energy - Petroleum is a highly dense fuel source. This means it doesn’t require a lot of petroleum to generate energy for machines and vehicles.
2. Commonly available - Since petroleum has been widely used for decades, finding it has been made easier. People can expect to find petroleum in even the most difficult places.
3. Versatile - Petroleum can be used for a wide range of applications including cars, boats, and machines. As a result, it’s greatly used in manufacturing and other various industries.
Disadvantages:
1. Pollution - Petroleum is filled with toxic materials if it isn’t extracted and refined properly. If improperly indisposed of, petroleum can spread chemicals that can pollute the environment and kill animals.
2. Limited - Since fossil fuels require millions of years before they can be produced, petroleum is extremely limited. Over the years, companies have been finding it hard to locate petroleum as sources are running low.
3. Deadly - Petroleum is not only harmful to the environment, but it’s also deadly to humans. If petroleum pollutes water, people who drink from the polluted water will experience a range of deadly illnesses.
As an oil trading hub, Singapore is one of the most financially powerful in the region, dubbing itself as “the undisputed oil hub in Asia”. This makes investing in middle distillates a financially wise choice to make in the oil industry.
For more information related to oil trading, visit Ocean Energy, one of the leading petroleum companies in Singapore.
