Mineral oil has great importance in the economy.a variety of products,like petrol,diesel,kerosene,wax,plastics,and lubricants are obtained by refinig crude mineral oil.other by-products include raw materials for chemical fertilizers,synthetic fibres and drugs. thus,it is called ''black gold''.
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Gold is a very valuable metal which can be used for many purposes. Here petroleum is also a very important one.we can say that today's world is completely running with petroleum. Every thing in our daily life electricity,motor,appliances,vehicles,creams,air&water transport... etc are completely dependent on petroleum.Hence petroleum is black gold.