DOMINANCE OF BLACK GOLD IN ENERGY SECTOR
FOSSIL FUEL Fossil fuels mainly comprising of Coal,Petroleum(black liquid gold), and natural gas contributed 85-93% of global energy production during the period 1950-2005.Traditionally coal was the dominant fuel in mid 20th century providng nearly half of global energy. However by 1961 petrol overtook the position as the major source of energy that exceeded 50% share of global energy in 1973.Natural gas share also more than doubled from 10% in 1950 to 24.2% in 2019.It has been observed that by 2019 fossil fuel accounted above 81% of global energy production and it continue to remain above 81% of energy goods consumed.In specific sectors fossil fuel utilisation remain robust. The appearence of Petroleum or crude oil, is a blackish yellow liquid chemical mixture found in geographical formations consisting of mainly hydrocarbons .This fossil fuel is evolved over millions of years from decay of organic...