<abstract xmlns="http://www.w3.org/1999/xhtml">Petroleum is the most important resource for global energy production, far exceeding the role of coal and natural gas, the role of river energy and wind energy, and also the role of nuclear fuel.All highly industrialized countries are making great efforts to ensure the energy needs of the functioning of economies under the conditions of fierce global competition. None of the world’s first 10-12 economies can give up on petroleum imports, and the exporting countries benefit from large financial resources from petroleum.Saudi Arabia, Qatar, United Arab Emirates, Venezuela, Russia and other petroleum-rich countries secure themselves significant foreign revenue for their economic development, defense and overall well-being.</abstract>

Petroleum is the most important resource for global energy production, far exceeding the role of coal and natural gas, the role of river energy and wind energy, and also the role of nuclear fuel.All highly industrialized countries are making great efforts to ensure the energy needs of the functioning of economies under the conditions of fierce global competition. None of the world’s first 10-12 economies can give up on petroleum imports, and the exporting countries benefit from large financial resources from petroleum.Saudi Arabia, Qatar, United Arab Emirates, Venezuela, Russia and other petroleum-rich countries secure themselves significant foreign revenue for their economic development, defense and overall well-being.

Petroleum – Strategic Resource for World Economy

“Vasile Goldiş” Western University of Arad

Studia Universitatis „Vasile Goldis” Arad – Economics Series

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

{"article-title":"Petroleum \u2013 Strategic Resource for World Economy"}

Petroleum is the most important resource for global energy production, far exceeding the role of coal and natural gas, the role of river energy and wind...

Petroleum – Strategic Resource for World Economy

Published Online: Jun 26, 2018

Page range: 70 - 85

Received: Feb 01, 2018

Accepted: May 01, 2018

DOI: https://doi.org/10.2478/sues-2018-0010

Keywords
petroleum, energy, economy, environmental protection, trade balance, competitiveness

© 2018 Viorel Pop, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Petroleum – Strategic Resource for World Economy

Published Online: Jun 26, 2018

Page range: 70 - 85

Received: Feb 01, 2018

Accepted: May 01, 2018

DOI: https://doi.org/10.2478/sues-2018-0010

Keywordspetroleum, energy, economy, environmental protection, trade balance, competitiveness

© 2018 Viorel Pop, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Keywords
petroleum, energy, economy, environmental protection, trade balance, competitiveness