ENVI 405 Lecture Notes - Lecture 3: Cow Dung, Gaussian Function, Unconventional Oil
LPG
Kerosene
Charcoal
Wood
Cow dung, crop residue (lowest)
United States
petroleum is the most uses, then natural gas, then coal
Hubbarts Curve
1. Fossil fuels are a finite resource.
2. Production peaks initially as new resources are discovered and infrastructure is developed.
3. Production peaks when about half of the fossil fuel that will ultimately be produced has been
produced.
4. Production enters its terminal decline as the finite resources are depleted.
- gaussian curve
- does not account for changes in technology
Unconventional Oil
- petroleum produced or extracted using techniques other than the conventional (oil well) method.
- like when the drill bit can curve etc
Production, Consumption, and Econ
- US and Saudi Arabia are the largest oil producers
- the world is consuming more and more, especially in developing countries
- When the production of oil surpasses global demand, oil prices will lower and visa versa.
- oil prices update to balance supply with demand
- oil has gotten cheaper recently due to the increased availability of oil due to new technologies of
fracking and horizontal drilling
find more resources at oneclass.com
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Document Summary
United states petroleum is the most uses, then natural gas, then coal. Does not account for changes in technology. Petroleum produced or extracted using techniques other than the conventional (oil well) method. Like when the drill bit can curve etc. Us and saudi arabia are the largest oil producers. The world is consuming more and more, especially in developing countries. When the production of oil surpasses global demand, oil prices will lower and visa versa. Oil prices update to balance supply with demand. Oil has gotten cheaper recently due to the increased availability of oil due to new technologies of fracking and horizontal drilling. Access to more oil area from the same small pad on the surface --> less environmental impact. In north dakota due to new oil extraction technologies. Oil spills happen every once in awhile. Isolated reports of oil contaminating ground water (legacy groundwater pollution) Sites are only cleaned up if the company is still in business.
