The Petroleum is called black gold because when the crude oil is extracted from the soil below, it is black in colour. Petroleum is very expensive like gold. Comparing its high value with gold in terms of properties and moneywise; it is regarded as black gold. Many components of crude oil have commercial importance.
Why petroleum is called black gold or liquid gold?
Petroleum which is also known as crude oil or just oil, is a naturally occurring, yellowish-black liquid found in geological formations under the surface of the Earth. Petroleum is called ‘Liquid Gold’ since it is liquid and just like gold, it has a high commercial value.
Why is it called black gold?
Petroleum is known as black gold as it is the black coloured crude oil extracted from the earth’s crust and has high value as it is present in limited quantity and takes millions of years to form but has many applications in the industries. Hence is as valuable as gold.
Why are coal and petroleum called black gold?
Coal, natural gas and petroleum are all fossil fuels that are all fossil fuels that are formed under similar conditions. Petroleum reservoirs can be found beneath land or the ocean floors . Their crude oil is extracted with gaunt drilling machines. … Therefore , Petroleum is called black gold.
Why is petroleum Isoften called liquid gold?
It is called liquid gold because petroleum is obtained in the form of liquid and since it is as precious as gold therefore it is called liquid gold .