For over a century and a half, oil has brought out both the best and Worst of our civilisation. It has been both boon and burden. Energy is the basis of our industrial society. Oil is the world's biggest and most pervasive business, the greatest of the Great industries that arose in the last decades of the nineteenth century. The demand for energy and petrochemicals correlates closely with general economic growth rates. The occurrence of recessions or other periods of low or negative economic growth will typically have a direct adverse impact on our results. Other factors that affect general economic conditions in the world or in a major region, such as changes in population growth rates or periods of civil unrest, also impact the demand for energy and petrochemicals.

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