Geography 3422A/B Study Guide - Directional Drilling, Energy Industry, Exxonmobil
4 Dec 2012
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Population growth exerts more pressure on resources. Rarely is a resource entirely exhausted: supply and demand, price elasticity. 55% of the worlds oil resources remain unproduced in 2040. Fossil fuels are distributed unevenly across the world: more developed nations 23% of population accounts for. 75% of energy use: less developed nations 77% of population accounts for. Barrel of oil = 45 us gallons. Best oil is sweet crude doesn"t have sulfur in it, easier to refine. Virtually no waste in a barrel of oil. Four types: light less dense, sweet lower sulfur content, heavy denser, the heaviest oil distills at temperatures above 1050 degrees fahrenheit, sour most dangerous, large levels of sulfur. Only known oil supplies when oil was first discovered ontario, Texas light sweet or light sweet crude oil (wti) a type of crude oil used as a benchmark in oil pricing and is the underlying commodity of ny mercantile exchange"s oil future contracts: cushing, oklahoma.
