The advantages of petroleum include a high-energy density, making it a cost-effective source of fuel; easy extraction, which occurs thanks to sophisticated machinery; easy transportation and versatile uses. Petroleum classifies as a nonrenewable resources, but exists in many reserves around the world. It appears in onshore and offshore facilities, including vast reserves in northern Canada.
Petroleum ranks among the cheapest and most readily available fuel in the world. These qualities make it valuable as a versatile source of energy in many industries. Petroleum fuels many forms of transportation, including boats, cars, trucks and planes. It provides power plants with electricity and converts to diesel fuel or regular gasoline, making it compatible with many types of engines. Petroleum burns relatively slowly, making it a cost-effective source of fuel for travelers.
Petroleum enjoys a low extraction cost, thanks to the ease of its retrieval and availability of machines and heavy equipment, which expedite the extraction process. Petroleum emerges from wells within the ground in a liquid form. A stable composition and lack of volatile substances make petroleum safe for transportation and increase its appeal. Petroleum stores equally well, contributing to its appeal. In addition to its advantages, petroleum use presents some drawbacks, including environmental pollution and costly cleanups in the event of oil spills.