Oil was formed more than 300 million years ago.
Oil has been used for more than 5000 years (ancient Babylonians and Sumerians had used crude oil).
Oil can be found under ground in areas of rock that are porous and contain the oil within the rock itself.
Oil is made into many different products like for instance clothes, fertilizers, plastic bottles, pens and lot of other products.
Oil as well as other fossil fuels emits dangerous greenhouse gases which cause the global warming.
Oil consumption is biggest in USA where daily consumption passes 19,5 million barrels.
Oil biggest producer is Saudi Arabia followed by Russia.
Oil won't last forever because its sources are limited.
Oil spilling is often causing major ecological disasters.
Oil needs alternatives in years to come, preferably in form of clean renewable energy sources.
Oil reserves refer to portions of oil in place that are claimed to be recoverable under economic constraints. Saudi Arabia leads the way with 264,3 billion barrels, in front of Canada and Iran.
Oil together with coal and natural gas supply about 88 % of the world's energy needs.
Top 10 Countries with Oil Reserves (click on picture for full size).Oil could even hit $120 in 2008 if current trend continues.
Oil tankers present great danger to sea pollution because of possible tanker accidents like it was infamous Exxon Valdez incident.
Oil tankers can be real giants even up to 650,000 tons.
Oil has tremendous effect on US economy.
Oil derivatives are releasing C02 during combustion and on the dangerous CO2 lies the biggest blame for global warming.
Oil's most known product gasoline costs in Saudi Arabia about 45 cents a gallon and in Venezuela just a quarter of the dollar.
Oil field that is largest in the world is Ghawar in Saudi Arabia that contains between the 75-85 billion barrels of oil which is six time more than the Prudhoe Bay in Alaska as the largest oil field in US.
4 comments:
The average US well produces about 10 barrels of oil each day. The average Middle East well produces two, maybe three thousand per day. The US uses 22 million barrels per day. With half a million barrels pumping, the US produces only about half what it needs. The US can drill baby drill and never produce close to what it needs. Drilling more wells will produce jobs, but not the oil that the US needs.
The average US well produces about 10 barrels of oil each day. The average Middle East well produces two, maybe three thousand per day. The US uses 22 million barrels per day. With half a million barrels pumping, the US produces only about half what it needs. The US can drill baby drill and never produce close to what it needs. Drilling more wells will produce jobs, but not the oil that the US needs.
I bet Anonymous is happy he did not share his name. Here we are, only 2 years later and the US is energy independent, prices have lowered and the import terminals are being converted into export terminals, while industry is coming back to US. While not all of the above is good (but we're not debating whether good/bad), it's just striking how some people can miss the mark.
Uh, no the US in NOT energy independent. This is a myth. The US is producing 9 mppd and consumes 19 mbpd. Still importing about 40%. Even at peak projections of 11 mbpd in 2020, still not meeting consumption.
Post a Comment