Question

Explain why petroleum is known as liquid gold.

Answer 1

Instructions:

• Give reasons why petroleum is called liquid gold and explain its significance in our life.

Solution:

• Petroleum is called liquid gold due to its high commercial value. And it is a liquid and is scarce in nature, like gold. It is generally called so to imply its significance.
• It serves directly or indirectly as a source for various organic products that are useful and essential for humans. It is mainly used to manufacture multiple products like pharmaceuticals, plastics, gasoline, synthetic fabrics etc. ​​
• Theoretically, the present social system might end up at a complete stand-still at the exhaustion of this resource.