Op-ed: Newspapers decline but oil will be valuable for decades

In its Tuesday editorial, The Salt Lake Tribune questioned whether the state of Utah should focus on the continued development of “waxy” crude in the Uinta Basin. Here is why it is important to have a discussion about this key energy resource.

In the last decade of the 20th century, global car sales averaged about 39 million per year. Just over a decade later, in 2013, global car sales had more than doubled, reaching 82.8 million. While electric vehicle market is growing at a respectable pace, the vast majority of vehicles sold in coming decades will be gasoline-fueled vehicles. Gasoline, diesel and jet fuel account for about 80 percent of the end-use of a typical barrel of oil, the other 20 percent of which is used to create a great deal of other products (plastics, cosmetics, synthetic rubber, medicine, cleaning products, synthetic fabrics), none of which promises to see reduced use in the coming years as the global population continues to grow by 70 million people per year.

For more, visit the Salt Lake Tribune.