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

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

oil

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

world

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have done their best to find different resources of

oil

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

For example

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

oil

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

In addition

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, many countries in the

world

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are already producing significant amounts of

oil

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, and the latest trade wars between the

oil

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producing countries has lead to decrease in

oil

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prices, and plentiful supply of

oil

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all over the

world

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.

Furthermore

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, the

world

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

oil

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and gas, all over the

world

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

instead

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of

oil

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.

For instance

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

world

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due to the increased demand of the electric cars.

Moreover

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, many countries which were using

oil

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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

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

oil

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. To add

further

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, the need for

oil

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