As you must have noticed most (if not all) of the articles advocate to less usage of oil and for the use of other alternative sources of energy. But let’s face it, when the oil is priced high, and our pockets get pinched, that’s when the demand for other sources becomes more. What oil provides is just not a reason for thinking, but also acts as a catalyst for research for other ways of reducing fossil fuels usage.
But some countries which save on the import bill when global oil prices are down, can channel some of this saving into more research and implementation of alternative sources of energy.
What is even more astonishing is when the oil prices are lower globally it actually leads to increase in economic activity in countries which is a net importer of oil products and countries which export their oil products go into slow…
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