the formation of fossil fuels take millions of years.if we use them at a very fast rate than their formation,the risk of it getting exhausted increases.thus fossils fuels are exhaustible resources

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Fossil fuels are limited. Coal, petroleum etc. found in earth's crust are the fossil fuels which take millions of years to form. So once they are exhausted completely, it will take millions of years to get replenished. So we won't be able to get them. That's why they are called exhaustible natural resources.