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the presses are there to print money when they are supposed to so I think it is clear that is a renewable resource.
It is called nonrenewable :)
3 nonrenewable resources are coal, oil, and gas.
Well, if we keep using oil, then the price will keep going up. I think the best possible solution is to start using more alternate fuel sources, then the price of oil will go down with the demand for it. Besides, if we keep using oil, there will be none left, since it is a nonrenewable resource.
Oil is an international commodity. In other words it is traded in an international scale. International commodities, tend to adjust to international commodity prices. As a result, a country like Pakistan that imports oil from middle east with low transportation cost is forced to pay the international price for oil.