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The article provides information about depleting oil reserves and increasing demand for petroleum by-products. Petroleum, a conventional source of energy, is reducing by leaps and bounds. Despite aware of everything, people are hardly taking it seriously. According to the statistics, it is clear that in upcoming days, you have to face much unbearable condition. Take a wise step before it is too late. It is quite difficult to think of life without petroleum. Almost all manufactured goods contain considerable amount of petroleum and its by-products. From foods to fuels, everything is directly (or indirectly) linked to it. Whether discussing about clothing or medicines, manufacturing requires petroleum by–products. Therefore, it is an indispensable fossil fuel. As a concern of exhausting petroleum, people have started looking for an alternative source that can sufficiently fulfill future needs. Some scientists are working on other artifacts so that they can derive energy equivalent to petroleum by products. Despite endless research it is tough to reduce dependence on petroleum. Therefore, the concern over decreasing oil reserves is increasing slowly. A big drawback is deficiency of an alternative source that can challenge fossil fuels. It is right to say that the experts are trying their best, but they have failed to commercialize a product on a large scale. Hence, everybody has to bear disadvantages of dependence on petroleum. Nothing will happen despite blaming others for the same. Increasing depend on petroleum is likely to hit the global market. Hence, the prices on oil will either rise or fall down. Hence, all have to face fluctuation in forthcoming months. According to the report, the world's largest exporter of oil, the Saudi Arabian oil production is in a stage of decline. This has increased the anxiety as it is impossible to think without oil. A reason to decline is a result of increasing oil production. At present, many countries are increased oil exploration so that they can compensate ever-increasing demand. The exhausting oil reserves have significantly influenced oil prices as a result of political and economic factors. Oil price is rising at far-fetched speed because of additional taxes. Hence, everybody has to depend on an alternative source, but it is tough to get something that can challenge fossil fuels. Many countries use water cut method in which water is pumped in the reserve to extract oil out of well. This has enormously affected quality of oil as well it is related to wastage of water. One best way is to reduce dependence on conventional source. Kyles Humphrey is a knowledgeable writer in oil related fields, who regularly writes articles related to oil prices & indexes and crude oil including tips on investment in oil. Please visit oil.com for more details.
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