There is coconut oil, you will find essential oils and then there’s cooking oil! There is a whole lot of those around the globe. Is there any crude oil on the market? What’s the situation of crude oil like?
This is a really tricky question.
While some major dailies are of the opinion thatwe still have 53.3 years of oil left, some others think that oil is still available in abundance.
Now, an individual would not know one from the other when so many opinions are thrown at them. Moreover, even though there are petroleum resources in abundance, lots of them are withheld either by terrorist organisations or by first world countries to sell at a really high price during the anticipated crisis.
How many manufacturing units will have the ability to buy crude oil at such high cost is unknown. It will definitely mean the end of Small and Medium Enterprises in the petroleum market as they obviously would not have that much capital. Thus, if oil was really available in abundance, industries would not close down due to shortage of raw material.
Well, this is the deal! Although it’s true that there are oil reserves in prosperity from the Middle East, Mexico and Venezuela, these reserves are not going to meet with the demand for oil. There’s a lot more need of oil than the oil in the reserves. This requirement will be extremely difficult to meet and sooner or later, the oil industry is going to go into a crisis. In fact, the crisis has already begun for small-scale businesses.
Thus, while we may continue to get a steady source of oil for a couple more decades, this supply will aid only those businesses and enterprises who can afford it. That will mainly be company giants and a few others who have done well. Even then, there may not be enough for all of them after state 50 years. Moreover, experts have estimated an increase in the requirement as time goes by.
Hence, one can estimate that oil industries are going to be in a challenging spot if quick action is not taken straight away. But is there a way out? Emulsified Oil is a green fuel that is manufactured out of by-products and can assist the world oil situation in a massive way. It is among the most plausible solutions available to us as of today. Moreover, Emulsified Heavy Furnace Oil or quantity 6 E.F.O isn’t just an eco friendly but also a cost efficient solution to the current issue. This will definitely help the businesses that have shut down due to raw material shortage in a huge way.