if oil gets exhausted how is it going to affect the economic development of the countries of the world
explain under the following heads:-
1- causes of exhaustion
2- its impact
3-alternative measures to be taken by the country
4-other innovative ideas face the challenge.
Oil may get exhausted due to overuse. Oil is a non-renewable resource. Hence, excessive use may lead to the depletion of oil stocks.
The impact of exhaustion of oil will be catastrophic. The global economy depends on a large extent on oil. It is the main source of energy for transport. If oil gets exhausted, transport will come to a halt causing the global economy to come to a standstill.
Alternative measures like development of renewable resources and increasing use of electric cars are required. Public transport should also be used in increasing amount.
The impact of exhaustion of oil will be catastrophic. The global economy depends on a large extent on oil. It is the main source of energy for transport. If oil gets exhausted, transport will come to a halt causing the global economy to come to a standstill.
Alternative measures like development of renewable resources and increasing use of electric cars are required. Public transport should also be used in increasing amount.