exhaution of oil resources in idia
Exhaustion of oil sources would affect life in the following ways:
i) It would lead to a crisis of supply of energy. ii) Power sources that require oil would be adversely affected. iii) Most of the world transport is dependent on fossil fuel. It would also be crippled. iv) There would be conflicts between countries and communities for control of alternative sources of energy.
v) World trade and economy would be negatively affected as supply of goods will break down causing scarcity.
Typically oil is supposed to be a renewable resource but it takes a good about millions of years.
In today's generation people are utilising the oil resources at a rapid and fast speed,due to which the oil resources don't get much time to get renewed again.
Oil helps in many factors of household needs as well as for the technical and economical development of a country and if these resources get exhausted then many of these activities will come to a halt.
For example: 1) Cooking food,lightening the stove or the lantern.
2) Industries will be shut and the transportation facilities will come to a complete FULL STOP!
The impact that an exhausted oil supply would have on our lifestyle largely depends on our ability to rely on alternative sources of energy. For example, even though solar energy is largely becoming a popular method of creating a renewable source of power.
It’s also worthwhile to note the financial impact that it could have on our lifestyle. At the moment, although fuel prices are high, electricity prices are relatively modest. However, have you ever considered what an upsurge in demand for electricity would mean for the prices that are levied onto us by energy companies? From an economics perspective, if demand for electricity outstrips supply, prices will continue to rise and this could mean that we will be more selective over watching the TV, surfing the Internet or having lights on in the house. We could develop a mentality that unless we absolutely need
i) It would lead to a crisis of supply of energy. ii) Power sources that require oil would be adversely affected. iii) Most of the world transport is dependent on fossil fuel. It would also be crippled. iv) There would be conflicts between countries and communities for control of alternative sources of energy.
v) World trade and economy would be negatively affected as supply of goods will break down causing scarcity.
Typically oil is supposed to be a renewable resource but it takes a good about millions of years.
In today's generation people are utilising the oil resources at a rapid and fast speed,due to which the oil resources don't get much time to get renewed again.
Oil helps in many factors of household needs as well as for the technical and economical development of a country and if these resources get exhausted then many of these activities will come to a halt.
For example: 1) Cooking food,lightening the stove or the lantern.
2) Industries will be shut and the transportation facilities will come to a complete FULL STOP!
The impact that an exhausted oil supply would have on our lifestyle largely depends on our ability to rely on alternative sources of energy. For example, even though solar energy is largely becoming a popular method of creating a renewable source of power.
It’s also worthwhile to note the financial impact that it could have on our lifestyle. At the moment, although fuel prices are high, electricity prices are relatively modest. However, have you ever considered what an upsurge in demand for electricity would mean for the prices that are levied onto us by energy companies? From an economics perspective, if demand for electricity outstrips supply, prices will continue to rise and this could mean that we will be more selective over watching the TV, surfing the Internet or having lights on in the house. We could develop a mentality that unless we absolutely need