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Why is petroleum called liquid gold?

AScarcity and diverse uses
BIts yellow colour
CIt is mined with gold
DIt is sold by weight
Answer & Solution
Correct answer: A. Scarcity and diverse uses
1. Petroleum fuels all internal combustion engines. 2. Its by-products feed petrochemicals. 3. Scarcity and many uses earn it the name liquid gold. _Source: NCERT Class 12 Geography, India People and Economy, Chapter 7, Mineral and Energy Resources._
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