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Abstract

The shift toward renewable energy is reshaping the global energy landscape, raising critical questions about the economic viability of fossil oil in an increasingly carbon-conscious world. This paper examines the economic impacts of renewable energy adoption on fossil oil markets, focusing on the interplay between supply, demand, and pricing dynamics. As governments implement policies to promote renewable energy sources and reduce greenhouse gas emissions, the fossil oil industry faces significant challenges, including fluctuating demand, regulatory pressures, and competition from alternative energy sources. This study analyzes market trends, investment patterns, and technological advancements that influence the profitability of fossil oil, assessing both short-term and long-term implications. By employing a comparative analysis of fossil oil and renewable energy economics, this research aims to provide insights into the future viability of fossil oil as a primary energy source. The findings highlight the necessity for the fossil oil industry to adapt its strategies, embrace innovation, and explore diversification opportunities to sustain its economic relevance in a renewable energy era.