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Q.

Is the world not running out of oil?

Tags: money, news & events, politics & government
Asked by Iqbal Seth, 30 Nov '12 12:45 pm
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Answers (5)

1.

Yes, that is right
Answered by Anil K Chugh, 30 Nov '12 12:54 pm

 
  
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2.

Yes, in present scenario world can not be run without oil. As it has become necessity of the people and therefore oil trading is one of the most prominent commodity item. You should read some oil trading news at pipstoday.com to know the importance of oil.
Source: http://www.pipstoday.com/category/commodities-trading/
Answered by Carlos joy, 01 Dec '12 06:34 pm

 
  
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3.

Seems so
Answered by anil garg, 30 Nov '12 04:41 pm

 
  
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4.

Not now
Answered by ambuj kumar, 30 Nov '12 12:54 pm

 
  
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5.

Oil is a precious commodity, as suggested by its consistently rising prices. And it's not just the demand factor reflecting in price. The oil prices, more than the demand supply logic, follow speculations that are often inflationary in nature, leading to a price premium that pure economics fails to justify.
Oil being the key source of global energy needs has been a subject of major studies and theories. Peak oil theory is one such famous and interesting theory. Also a scary one. It suggests that there will be a time when oil wells will be producing oil at their maximum potential and will then signal a progressive decline leading to the supply of oil falling short of demand. Infact, some have suggested that we have already reached that peak point. But if a recent industry report is to be believed, the theory seems to be falling apart. As per the report, the offshore discoveries are likely to keep oil flowing. The companies across the globe plan to drill a total of 301 offshore wells in ...more
Answered by Ataur Rahman, 30 Nov '12 12:54 pm

 
  
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