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Essay text:
Oil is the most important and most widely used source for energy today, and there is nothing that shows scientists will discover an alternative in the foreseeable future. Therefore, the demand for oil continues to rise.
The economics word, demand, can be defined as anything that consumers are willing and able to purchase during any certain time period. In the case of the rising cost of oil, the demand for oil is rising so rapidly that supply cannot keep up. Siddique suggests the major reasons these demands are increasing so rapidly is because of the growing economies of China and India.
Now we need to examine the reasons that the demand for oil causes the price to increase...
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