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Benefits of Oil and Gas Industry

There are a lot of advantages associated with the oil and gas industries. This is due to the fact that the industry has grown a lot over the past years. The gas and oil industry has a great impact on the economy. This is because of the taxes and royalties the industry pays to the state. This is because of the funding given to schools, roads and emergency services. The oil and gas industry has made this kind of funding possible.

Another advantage of the oil and gas industry is that it has improved employment and job creation. Increase in unemployment has become a major problem in very many countries. Theft and crime rates have greatly increased due to this. The oil and gas industry has played a great role in eliminating employment problem. There are jobs for very many people in the industry. Job creation in a country helps in stabilizing the economy. The oil and gas industry has been responsible increasing more labor opportunities. This is because the industry has very many departments. There is increased demand in the industry which has seen more people been employed.

The oil and gas industry plays important roles in other industries. Such industries include the petroleum-based industries. The bi-products that come from the oil and gas industry are very many. These bi-products are being used in our daiy activities. For instance candles, footballs and cameras have a variety of uses in our society today. Refrigerating your food and washing your hair would be hard if it were not for the oil and gas industries. Production of medicines, computers and life-saving machines has been made possible by the oil and gas industry.

Another benefit of the oil and gas industry is that it is a major source of power. Oil is able to produce power for your home all day long. The oil and gas industry has advanced a lot in the past few years. The many years of production has made this very possible. The production of power has become very reliable due to this. The oil and gas industry has helped eliminate the dependency of a country on other countries. This has led to the exporting of oil to other countries. In this case an energy market is created and it pulls money into the country. This is better than sending money out of the country. In this case the industry has been able to achieve profitable margins without increasing the cost of oil. The average citizen has been able to take advantage of low energy costs in this case. The economy of most countries has been greatly improved by the oil and gas industry.

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