When a country discovers oil, it is usually an ideal time for them since it is a rare resources that can make it wealthy and even reduce the national debt if it is exported. That is perhaps one reason why most countries get excited when oil is discovered in their jurisdiction. Below are some of the reasons why oil mining is ideal.
With oil being a rare and precious commodity, a country can use it to repay its debt to another country. By doing this, a country is able to quickly gain financial freedom since oil is quite costly. Income for the sale of oil can also be used by a country to invest in projects that can bring then national income.
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. Since there are structures in place, oil is utilized more effectively.
With oil mining, there are other byproducts that are produced that make the process useful since they add a little spice to life. Such by products may include but not limited to candles, football, cameras and even helping you to refrigerate your food. The byproducts are useful in helping life easy thanks to the oil mining process.
with oil mining there is avenue for job creation. There is a lot to be done during oil mining and the process provides jobs for those looking for blue and white collar jobs. When there are jobs available in a country, the country is able to gain more financial and economic stability to its citizens.
The discovery of oil helps a country to have various economic adjustments. Such adjustment may include building of roads, hotels, hospitals, school and other economic benefiting projects. There is growth when such infrastructures for the nation even for the citizens but it is especially beneficial for citizens who live near such infrastructure.
Oil mining also opens up an area for international recognition when an area is opened up for the oil mining process and this is quite beneficial. When such places open up to international clients, the residents benefit greatly from the interaction since they get business and are even able to expand their businesses internationally. There is free marketing for products and services in the area where oil mining is taking place thus increasing their sales and gives them the relevant publicity for their products.