Energy and oil have a direct relationship. Energy is the electricity, heat, and fuel needed to power all the aspects of human lives. Oil itself is the main resource for energy, contributing 37% to the global energy supply. Specifically, oil as a source of fuel is used to power the majority of transportation throughout the world. However, it also has significant use in heating and making electricity. There are many other sources of energy as well. The second largest provider of energy is coal, which accounts for about 25% of the world’s energy consumption. Gas covers 23% of the energy need. Other sources include nuclear power, biofuels, hydro power, solar heat and light, and wind. All of these forms of energy contribute to the global energy supply, with oil being the most heavily relied upon.
Now the world faces a problem. The top three energy providers, accounting for about 85% of the word’s current energy supply, are non-renewable fossil fuels. Primarily, oil is at a premium because of political unrest (rightward shift in supply), reserves are at the beginning stages of drying up (rightward shift in supply),