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In with the new, out with the old: the scramble for critical minerals
Yahoo Financeยท 2025-11-26 12:15
Oil became the dominant fuel for transport, industry, and the military from roughly World War I onwards. Following this conflict, oil became more than just a commodity; it was the operating system of industrial society. It powered transport, heavy industry, and mechanised agriculture, and underpinned modern militaries. By World War II, oil was not just a fuel; it was the lifeblood of national power. This embedded oil deeply into every industry, because there were no fast substitutes for oil in transport o ...