Yes, of course! There is coconut oil, there are essential oils and then there is cooking oil! There’s a good deal of those around the globe. Is there really any crude oil on the market? What is the situation of crude oil such as?
This is a really tricky question.
While some major dailies are of the opinion that, we still have 53.3 years of petroleum left, some others think that oil is still available in abundance.
Now, one would not know one from the other when so many opinions are thrown at them. Moreover, even though there are petroleum resources in abundance, a lot of them are withheld either by terrorist organisations or by first world countries to sell at a very high price during the expected crisis.
How many production units will be able to purchase crude oil at such high cost is unknown. It will definitely mean the end of Small and Medium Enterprises in the petroleum market as they obviously would not have that much capital. Thus, if oil was indeed available in abundance, industries wouldn’t close down due to shortage of raw material.
Well, this is the deal! Although it is true that there are oil reserves in abundance in the Middle East, Mexico and Venezuela, these reserves are not going to fulfill the demand for oil. There is a lot more demand of oil than the oil in the reserves. This demand will be extremely tough to meet and sooner or later, the petroleum market is going to go into a catastrophe. In actuality, the crisis has already started for small-scale industries.
Thus, while we may continue to have a steady source of oil for a couple more decades, this distribution will aid only those industries and enterprises who can afford it. That will mainly be business giants and a few others who’ve done well. Even then, there may not be enough for all of them after say 50 years. Moreover, experts have projected an increase in the demand as time goes by.
Therefore, one can estimate that oil businesses are going to be in a challenging spot if quick action isn’t taken straight away. One of the best available alternatives is to use Emulsified Oil instead of Crude Oil. Emulsified Oil is a green fuel that is produced from by-products and can assist the world oil situation in a large way. It is one of the most plausible solutions available to us as of today. Moreover, Emulsified Heavy Furnace Oil or quantity 6 E.F.O isn’t just an eco friendly but also a cost efficient way to solve the current issue. This can definitely help the businesses that have shut down due to raw material shortage in a massive way.