Petroleum-future
Petroleum has played an important role within the economic, social, and political
history of the planet. Petroleum is getting used as a source of energy production since nineteenth century. The concept of peak oil has been proposed by M. King Hubbert's theory. it's explained that peak oil doesn't mean that Petroleum reserves have run out, but that the utmost rate of Petroleum extraction has been reached which subsequent methods of extraction cannot increase the speed further. And hence the entire rate of petroleum output will decrease. This phenomenon poses a threat to oil future. Because the easily extractable Petroleum supplies are decreased and therefore the demand has increased, Extraction of heavier oil that was once uneconomical to extract thanks to high upfront costs has become profitable to supply. because the 70% of all petroleum produced is employed by the transportation industry, great effort has been put to supply an electrical vehicle capable of performance almost like that of Petroleum powered vehicles. The sole major factor holding back electric vehicles is how they store electricity when the vehicle isn't in use. Electric vehicles can crop petroleum use, but the notable point is that the source of electricity won’t to charge their batteries. And if the energy isn't from a clean natural resource, then the matter is just being shifted from one location to a different and isn't being solved.
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