Oil scarcity occurs when the representatives from leading oil producers (OPEC) agree that current market trends require a reduction in production to maintain or increase revenue.... it's manufactured (fake) .... basic supply and demand
yes, droughts occur in only one area where water scarcity is present
They occur whenever we dont have enough resources to produce all the things we like to have. By : Taylor S Locklear
scarcity due to decreased supply and set prices
They used the oil for Trading.
abundance of oil but a scarcity of water. :)
Distribution effects market economies because they will have to deal with scarcity, and with scarcity, they cant have as many things. The distribution will allow a widespread of things to occur.
Yes, oil is a limited resource because it takes millions of years to form. The implications of its scarcity on the global economy include higher prices for energy and transportation, which can lead to inflation and economic instability. On the environment, the scarcity of oil can drive the search for alternative energy sources, reducing greenhouse gas emissions and mitigating climate change.
A scarcity of resources is sometimes referred to as a limitation of resources or as finite resources. Some resources that may become scarce include coal, oil, and fresh water. A scarcity of resources will make those resources more expensive.
One issue that can spring from scarcity of natural resources is economic. When items are scarce, the price for those items goes up. Oil is a good example of this effect.
That oil comes from fossils is a myth, disproven by the Russians long ago, to propagate the illusion of scarcity and 'peak oil.' Seek 'The Origins of Oil.'
There's a shortage of oil, pushing car companies into researching alternative feuls.
What problems can occur from engine oil overfill