Texas Energy Group
19019 HWY 71 West
Spicewood, TX 78669
Ph. (512) 263-8106
Fx. (512) 263-8136
Investor Relations
Ph. 877-TXENRGY
(877-893-6749)
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 | Industry Overview |
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Oil is the lifeblood of modern civilization and has almost single-handedly made industrial civilization possible. We are more than just dependent on oil, we are addicted to it. And despite countless attempts to render it less important, no suitable energy substitute is anywhere close to being found. Without a constant supply of petroleum, the global economy would screech to a halt. Cars and trucks would stall, planes would be grounded, factories would lie idle and store shelves would be empty. Hundreds of thousands of people around the world would be thrown out of work and chaos would reign from Europe to Asia to North America and everywhere in between.
The roots of our dependence on oil go much deeper than our reliance on gasoline, fuel, and heating oil. Petrochemicals, or substances derived from petroleum, are important in almost everything we eat, wear and use. Here are just a few items to consider: |
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pesticides
nail polish
hand lotion
bandages
golf balls
fertilizers
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lipstick
eyeglasses
pillows
footballs
telephones
tires
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With its countless applications and critical importance, it's no wonder global demand for oil continues to rise, year after year. And amidst this incessant thirst for more, the leading producers around the world are watching their production levels steadily decline. As this occurs, the basic economic forces of supply and demand take charge. This fundamental economic principal has been the principal influence over prices throughout history and remains the driving force behind rising oil prices today.
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