Question

Why is petroleum often referred to as “liquid gold”?

Give a geographical reason for the following:

Petroleum is called ‘liquid gold’. 

“Petroleum is referred to as liquid gold.” Explain the statement.

Answer 1

• Petroleum is called “liquid gold” because it is a very valuable natural resource.
• It is used as fuel for transport, industries, and power generation.
• Petroleum is also a raw material for making plastics, chemicals, fertilizers, medicines, and synthetic fibres.
• Since it is limited in quantity but highly useful, it is considered extremely precious.