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The United States and the rest of the world need oil. Without oil, humans wouldn't have the use of many things. For example cars, or power plants. Oil is basically a fossil fuel which comes from the dead or decomposed organisms that existed millions of years ago. Fossil fuels take billions of years to dorm. That is why the world is having wars so their countries can get that oil.
Wiki User
∙ 12y ago
Wiki User
∙ 9y agoThe oil industry is one of the important industries in the community. Without this industry, the industrial civilization will stop or will have very slow improvement and the transportation will consume a large amount of time.
Wiki User
∙ 16y agoOil is important to Nigeria's economy because it is 90% of Nigeria's income. The money made from selling oil to other countries helps to build highways, schools and factories. Falling oil prices around the world caused Nigeria's income to drop. Also, years of low rainfall caused food production rate to drop.
Wiki User
∙ 12y agooil is so important to the us because without it we wouldn't be able 2 fuel cars.
Wiki User
∙ 12y agoanswer:
oil is important in south west Asia because it made the place rich, meaning that they bought more places with the oil money.
:):(
Wiki User
∙ 12y agoIt is the foundation of the economy not noly are all goods shipped using fossil fuels and people use it for transportation but it is used in making many products that Americans use.
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Why were the colonies so important to a mercantilist economy?
Colonies were important in the mercantile economic systems because they were markets in which to buy products from the home country.
Was agriculture the most important part of Roman economy?
Yes it says so in my social studies book
Why was trade important in Egypt?
it was so important so you can get new things and not stick with old things
How has oil production affected some countries in southwest Asia?
Oil was first discovered in Southwest Asia in 1908. Since then, oil fields in many regions of Southwest Asia have been found, and other countries rely heavily on Southwest Asia for oil to meet the demands of their economies: transportation requires gasoline (which is oil in a refined form) and power plants burn oil to produce electricity. Specifically, the United States, Japan, and many European countries heavily depend on Southwest Asia for oil because it is home to such vast amounts of petroleum. So, Southwest Asia's oil fields are important to many countries' economies, and thus the world economy, making Southwest Asia very important in terms of world position. For more information on oil in Southwest Asia see the Related Link below.
Why were vikings so important in the Middle Ages?
wrote by a really ugly virgin no: they basically cause feudalism to start! they were VERY important
Why does Venezuela have so much oil?
Oil is important to Venezuela, because it is most of Venezuela's economy.
What is nigerias airline called?
I.d.k. So s.t.f.u.
Why is oil a natural resources important to countries of North America's economy?
so that people have enough for their cars or mobiles.
Why is business so important to a country's economy?
Why is business so important to a country's economy?Volcanoes can change the economy positively or negatively.The positive way is that a cone volcano.
How was the economy of Mexico affected when the price of oil went down?
They did not have enough oil for their lawnmowers so the economy went way down.
Why was the creation of a national bank important to the U.S. economy?
Why was the creation of a national bank so important to the U.S economy?
How did the presence of oil in the region change the regions importance in the global economy?
The presence of these large reserve has made the region important because so many other countries, including the United States, depend on oil.
How did the presence of oil in the region change the regions importance in global economy?
The presence of these large reserve has made the region important because so many other countries, including the United States, depend on oil.
Why are US citizens so important?
US citizens are very important. They form the economy of the country.
Why was oil so important to nigeria in the 1950's?
Oil is important to Nigeria's economy because it is 90% of Nigeria's income. The money made from selling oil to other countries helps to build highways, schools and factories. Falling oil prices around the world caused Nigeria's income to drop. Also, years of low rainfall caused food production rate to drop.
What do research laboratories use as model crude oil?
It is probably the worlds NUMBER 1 commodity. It is so important to the world economy and chemical industry that it is a natural favorite to use as a model in a laboratory.
Why is oil so important to Middle Eastern countries?
Oil is important to Israel as it important to any other country. But Israel is a pioneer in green and alternative oil replacement.
