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How Widely Are Fossil Fuels Used Today?

The leading fossil fuels that global economies depend on are coal, oil, and natural gas. These are naturally-occurring hydrocarbons that contain substantial amounts of hydrogen molecules and carbon. They form over millions of years as plants, animals, and other organic matter decomposes anaerobically under high pressure and temperature.

How Do Oil Rigs Work

The oil industry makes about 2-3% of the global economy, which amounts to much larger figures when assessing the country-wise statistics. In 2019, the revenues from oil and gas drilling sectors were estimated at $3.3 trillion. There’s a need for more than one or a few oil drilling methods due to this industry’s magnitude.