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ENERGY POLICY PROJECT

SUMMARY: PETROLEUM (OIL)

·         Oil is a nonrenewable energy source that is classified as a fossil fuel, along with coal and natural gas.

·         Oil was formed hundreds of millions of years ago.

·         Because oil is underground and under immense amounts of pressure from rock, you have to drill into the ground in order to get the oil. Companies put up exploratory wells, in some cases, to see if there are traces of oil in the general area. If they find a favorable location, they will set up a well and begin drilling. After they get the oil that is easily retrieved, they will shoot water down into the well to force out any other oil.

·         Oil is then refined into all the things we use it for. When it is refined, oil is boiled in to a vapor, which is then cooled. Once the vapor is cooled, it separates in to different liquids, which are collected. The liquids are heavy gas oil, light gas oil, naptha, kerosene, and straight gasoline.

·         Gasoline is the most common product used.

·         Gasoline is the biggest use of petroleum since cars are an everyday part of life. We also use oil for many of our other activities of daily living such as hot water, drying clothes, and cooking.

·          It is also used for processing and manufacturing most products in the home and workplace. Oil can also be used for fueling power station turbines and co-generation plants.

·         Petroleum is available is the United States and various places around the world. Some of the leading states in oil production in the U.S. include Texas, Alaska, and North Dakota. Saudi Arabia and Russia are some of the world’s lead oil-producing countries.

·         We, for the most part, do not have any trouble buying oil or having it available for consumer usage.

·         Petroleum is not very sustainable. Since it is a nonrenewable resource, it is not a resource that will keep replenishing itself for our continued use.

·         We will eventually run out of oil altogether, especially since the entire world uses so much of it.

·          According to the U.S. Energy Information Administration, it costs $33.76 per barrel of oil, which includes operation and maintenance of oil and gas wells, along with the appropriate equipment and facilities to bring gas and oil to the surface, and the costs of exploring and purchasing property that might contain gas and oil reserves.

·         Social advantage: we use oil for many different things, especially in our cars.

·         Social disadvantage: we will eventually run out.

·         Other advantages: it is easily transport, fairly inexpensive to transport, and is available for our use all the time.

·         Disadvantages: the threat of oil spills, pollution when oil is burned, contributes to acid rain, and onshore and offshore exploration also threatens oil spills and damage to ocean habitats.

·         Environmental concerns:  when burned, it emits greenhouse gases, produces hazardous waste, airborne particles contribute to disease.

·         Environmental benefits: its long time usage gives us much more knowledge of the hazards of oil. We know what comes with using oil.

·         Future prospects: there is discussion of building pipelines to help relieve oil build-up in places like North Dakota, which will create lots of jobs in construction, along with opportunities for welders and manufacturers.

·         Do you think we are close to running out of oil? Why or why not? Do you think the world will be able to adjust with the loss of oil as a main resource?

http://pipelinesinternational.com/news/future_industry_prospects_a_market_outlook_on_the_oil_and_gas_sector/077225/

http://www.eia.gov/kids/energy.cfm?page=oil_home-basics

http://www.api.org/

If you have any questions, please email me.
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