When a country discovers oil, it is usually an ideal time for them since it is a rare resources that can make it wealthy and even reduce the national debt if it is exported. It is for this reason that most countries get extremely excited at the mere thought of oil being found in their jurisdiction and the possibility that such oil can be mined. Some of the reasons that make oil mining ideal are briefly highlighted below.
By mining oil, a country is able to repay its debt in exchange of the oil since it is a rare and precious commodity. Since oil is quite costly, a country can use it to gain financial freedom. Income for the sale of oil can also be used by a country to invest in projects that can bring then national income.
Compared to solar power energy, oil is a source of power is quite a reliable energy source. The reliability of oils as a source of power ensures that you are able to use it throughout the year unlike solar power which may be affected by weather and seasonal changes. Since there are structures in place, oil is utilized more effectively.
The mining of oil is also valuable since it helps to provide other by products that are useful and can add a little spice to life. Such by products may include but not limited to candles, football, cameras and even helping you to refrigerate your food. Such products help to make life easy and they are all available with the help of the oil mining process.
with oil mining there is avenue for job creation. There is a lot to be done during oil mining and the process provides jobs for those looking for blue and white collar jobs. Job creation gives a country more financial and economic stability.
When an area is discovered in a country for oil mining, there are some economic adjustments that happen that help with the building of the nation. Building of roads, hotels, hospitals, and schools are some of the adjustments that can take place. Citizens living near the areas that the infrastructure benefit greatly from them since it helps in their growth and especially more so for citizens who live in areas where the infrastructures are built.
When an area is opened up, oil mining can make an area have international recognition and this can be quite beneficial. Businesses in the area can benefit greatly from international publicity which can help in the expansion and establishment of such businesses since they are able to get clients and this helps to boost their growth. When there is publicity for the oil mining businesses within that area also get free publicity for their products and services which increases their sales by the free marketing.