Should a country discover oil, it becomes a turning point for them since oil is a precious and rare commodity which can even help them reduce their national debt. 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.
Oil is a precious and rare commodity and a country can use it to repay its debt to another country. Since oil is quite costly, a country can use it to gain financial freedom. A country can use the money from the sale of oil to invest in projects that can help give them returns that can benefit the nation.
Oil is more reliable as a source of power compared to solar power energy. Since it is not affected by weather and seasonal changes you can use it throughout the year unlike solar power. As a resource, there are structures in place to ensure that oil s utilized 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. Some of the byproducts from oil mining, include but are not limited to footballs, cameras, candles and even refrigerators for food. Thanks to the oil mining process, some byproducts become available that help to make life easy.
Oil mining as a process creates avenues for job creation. Blue and white collar jobs are created during oil mining since there is a lot that needs to be done. Job creation gives a country more financial and economic stability.
The discovery of oil helps a country to have various economic adjustments. Some of the adjustment may include hotels, hospital, schools and the building of roads. A country benefits when such infrastructures are built since they are able to help the citizens grow and more so the citizens that live near the area where oil is mined.
The discovery of oil also opens up an area to be internationally recognized and this is another benefit of oil mining. The area then greatly benefits from international clients which help businesses to expand internationally since they are able to get more clients. 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.