black gold (crude oil)

"Black gold" is a term commonly used to refer to crude oil due to its dark color and high value in the global economy. Crude oil is a natural, unrefined petroleum product that is extracted from the earth. It serves as a crucial energy source, fueling transportation, heating, and electricity generation. Additionally, crude oil is processed to create gasoline, diesel, and various petrochemical products, including plastics. The price and availability of crude oil significantly impact economies and geopolitics worldwide, making it a key resource in modern life.