answersLogoWhite

0

We're not to a point where petroleum is "scare" as of yet. Millions of barrels of oil are being produced daily.

That being said, the world's supply of oil is diminishing. The simple answer is the increased demand. Due to more demand in countries like India and China, the world's oil producers are having to produce more and more crude oil to maintain supply.

User Avatar

Wiki User

15y ago

What else can I help you with?

Related Questions

What are the scarce resources south Africa?

Blood diamonds are becoming scarce.


What are some resources that are becoming increasingly scarce in world?

fossil fuel and coals are becoming quite scarce. that's why we are going to solar, wind, and water energy.


Why has oil become so expensive?

It's becoming more scarce in the world.


Are redheaded newborns becoming scarce?

A documented decline by percentage in live births-no.


What can the reasons be for electricity becoming scarce?

I would say Obama! Not being funny, but really.


Ten products and services that are scarce?

According to the economic theory of scarcity literally all products are technically scarce because production is limited but certain items are exceptionally scarce. gold products, diamonds, truffles, petroleum products, services that are scarce now include, horse ferrior, watch makers and any other antiquated trade


Is coal mining a reliable source of energy?

Coal mining will not last for long because coal is becoming scarce.


List 10 examples of scarce resources?

Scarce resources are resources that are becoming more difficult to find. In some cases resources are scarce in one area but not as scarce in another. Here is a list of 10 examples of scarce resources, clean water, land, food, oil, natural gas, phosphorus, coal, scandium, terbium, and minerals.


Can you give me a sentence with the word scarce?

Scarcity can mean an insufficient supply or rarity. An example sentence would be: The Earth is developing a bit of a scarcity of water.


Why do gas price fluctuate so greatly?

because gas is slowly becoming scarce and it will cost mire money to look and search some more


What states DON'T have honeybees?

All states in the U.S. have honey bees in higher or lower quantities, and there is not a single state without bees, although they are becoming more scarce.


Are koalas' feed source becoming scarce?

Not at all. It is not any loss of food source which is threatening koala populations. It is the loss of their homes, and the ever-increasing threat of becoming victim to dogs and cars as the koalas move between the trees in their home range.