Why is petroleum often referred to as liquid gold
Mineral and Energy Resources (10)Briefly answer: Why is petroleum often referred to as "liquid gold"
Answer
- Petroleum is a versatile mineral. It generates power and used as a fuel for vehicles and in factories.
- It is used as a raw material for products like plastics, tarpaulin, wax etc.
- By-products like kerosene are very useful.
- Not even the smallest part of the crude oil goes waste or remains unused and is therefore called liquid gold.
- High economic value.
- Exam Year: 2019