Question

if oil gets exhausted how is it going to affect the economic development of the countries of the world
explain under the following heads:-
1- causes of exhaustion
2- its impact
3-alternative measures to be taken by the country
4-other innovative ideas face the challenge.

Answer 1

Oil may get exhausted due to overuse. Oil is a non-renewable resource. Hence, excessive use may lead to the depletion of oil stocks.

The impact of exhaustion of oil will be catastrophic. The global economy depends on a large extent on oil. It is the main source of energy for transport. If oil gets exhausted, transport will come to a halt causing the global economy to come to a standstill.

Alternative measures like development of renewable resources and increasing use of electric cars are required. Public transport should also be used in increasing amount.