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Petroleum is required every day in every civilized country in the world. Petroleum is not just used to power our automobiles. Petroleum is used to heat buildings and is required for the manufacturing of fertilizer and plastics. Diesel fuel is essential for airline travel and worldwide logistics transport. Because Petroleum is a worldwide necessity, the federal government gives huge tax incentives to investors willing to invest in oil exploration. Given the tax incentives and the potential huge returns on that investment, it is truly a great year to be in oil!
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