50 Things That Made the Modern Economy Oil
Sep 2, 2019
Explore how oil shaped the global economy, influencing power dynamics and leading to paradoxes in resource-rich nations. Delve into the ongoing dilemma of balancing oil abundance with the need for renewable energy, analyzing the efficiency of petrol against emerging battery technologies. The discussion also touches on the rise of electric vehicles and the challenges in transitioning to electric aviation, reflecting on our complex relationship with this vital resource.
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The Well That Started It All
- Edwin Drake's 1859 Titusville well struck oil and changed energy supply.
- Tim Harford says that discovery 'saved the whales' and reshaped the world.
Pithole's Rapid Rise And Collapse
- Pithole exploded from a handful to 10,000 people within a year amid oil fever.
- Within another year it vanished, showing many booms aren't sustainable.
Oil Powers Much Of The Modern Economy
- Oil supplies over a third of global energy and fuels most plastics' raw materials.
- Oil-derived fuels still power cars, ships and planes, anchoring modern transport.
