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Short-term effects of oil include environmental pollution, such as oil spills that harm marine life and ecosystems, and economic fluctuations in oil-dependent regions. Long-term effects can involve climate change due to greenhouse gas emissions from oil extraction and consumption, as well as lasting damage to biodiversity and water quality. Additionally, reliance on oil can lead to geopolitical tensions and economic instability as nations vie for resources. Transitioning to renewable energy sources is essential to mitigate these impacts.

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