Earth’s oil gauge on low put pressure on the proven reserve.
Earlier this year, Royal Dutch/Shell, one of the world’s biggest oil companies, cut the amount of its proven reserves by 22 percent in a scandal that led to the ouster of top executives at the British- and Dutch-owned company.
While oil prices are near record highs in current dollars, adjusted for inflation prices are well off the highs they hit in the 1970s and early ’80s.
Also, there are plenty of ways to convert energy without fossil fuels. In addition, many are being used, although not nearly to their full potential. Therefore and more important, Countries must take action to promote a greater use of renewable energy resources. Some examples are geothermal energy or solar Andy wind power. Also, we can and must be well prepared. Trust that’s there will be a day when the supplies of fossil fuels are not as plentiful as they seem today.
Furthermore, given that the fairly low cost of converting natural resources to energy causes most countries to use fossil fuels. Yes, people use that fossil fuel only as their main source of energy. However, there is a major problem that arises out of this! Simply put natural resources are limited and non-renewable. There is only so much oil, coal, and natural gas that the earth can hold.
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