le and purchase of oil as well as the purchase of oil. However, this has changed with the latest agreement on climate change. Their film “What’s Next for Oil?” shows the future of oil. Electricity is one of the more popular alternatives to petroleum and, as more electric vehicles come into production day in and day out in the near future, we could be filled with all or most of the people who own cars that are not oil-dependent.
In the present, renewable energy is more popular than oil. It is due to the fact that renewable energy does not pollute our environment as much like its counterpart, oil.
However, despite its uncertainties that oil remains an extremely popular commodity, and it is not about to change anytime soon. It remains a major resource for energy but is also facing fierce competition from other sources. It is going to be difficult to conquer, if not impossible. The only way for oil to be taken advantage of as a energy source and its price lowered is once the equilibrium of demand and supply in the world market is determined. Until then, profitability from it will be questioned by oil firms as we see times that are over-supply, and low costs that go with it. zjaug9oxgt.