What is the importance of Crude Oil in Today's World?

Please explain in depth if possibleWhat is the importance of Crude Oil in Today's World?
This won't be in depth but...





Since the US uses so much of the oil in the world, it represents a significant portion of our deficit spending as we import more goods than we export. The expansion of China in the global economy is creating a strain on the resources. To keep their growth rate, they will need to increase their imports of oil which will drive up the price further and make it harder for the US to compete.





However, the good news is that people are recognizing the need to diversify our energy sources and new industries are beginning to explore technologies that once were not profitable but with the high cost of oil, may now be viable.





The drive for new oil fields is pushing the Russians into the Arctic; pressure mounts to exploit oil fields in the Alaskan tundra; political unrest in Africa and South America is sometimes focused on oil production. The high price of oil is a threat to world peace.What is the importance of Crude Oil in Today's World?
It certainly makes headlines, it commands dependency. It drains any hope of savings. It is a major player in survival. Darn it's tough.
almost everything depends on crude solvents plastcs gas diesel pesticides all sorts of crap comes from crude take that away big changes are commin of all commoditties we are most dependant on crude for our way of life