The worry in the oil industry is that the earth is running out of reachable oil. It would mean that once the oil dries up the way of using oil for fuel would go away. We’d have to have alternative methods. There is a slight worry that this will happen in the 21^st century given the number of drivers on the road. Further worries have always prompted governments to have “emergency oil” on hold. The International Energy Agency or IEA has definitely been worried about this. In the next 30 days they will be releasing 60 million barrels of emergency oil onto the market.

The aim of this release is to lower high fuel prices at the pump. If the supply is greater it will mean lower prices for those who spend a lot of money at the petrol pumps. Many of these supplies will be given to the UK and US. The process is going to release 2 million barrels each day for a month. These plans already lowered the crude oil prices on the stock market, so this is yet another area of concern. The good news is with fuel cards and the extra oil it will be easier to afford fuel.

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