With the increased global demand in oil and gas, undiscovered areas of the world should be opened up to access more resources. To what extent do you agree?

I believe that, getting to find new resources of

oil

and gas would involve heavy costs, and more risk of failure. I will explain, how the need for

oil

and gas could be accommodated in the present situation. To embark upon, many countries in the

world

have done their best to find different resources of

oil

and gas. Researching for these resources involve investment of billion dollars, and the probability of finding these resources is very low.

For example

, recently in Pakistan, a billion dollar project was established to extract

oil

from the sea, which resulted in failure, and huge economic loss.

In addition

, many countries in the

world

are already producing significant amounts of

oil

, and the latest trade wars between the

oil

producing countries has lead to decrease in

oil

prices, and plentiful supply of

oil

all over the

world

.

Furthermore

, the

world

has changed now, and technological advances have reduced the need for

oil

and gas, all over the

world

. The car manufacturers are now moving towards producing electric cars, which use electricity as a primary source

instead

of

oil

.

For instance

, the electric car manufacturer Tesla has become the most valuable company in the

world

due to the increased demand of the electric cars.

Moreover

, many countries which were using

oil

to produce electricity are now shifting towards the other cheaper methods, and solar energy is emerging as a new source of power. To conclude, finding new resources of

oil

and gas would involve significant costs, and currently the geopolitics have led to the decrease in price, and excess supply of

oil

. To add

further

, the need for

oil

is decreasing gradually due to the emergence of the electric cars, and changing methods of the electricity production.