INTST101 Chapter Notes - Chapter 10: Biodiesel, Cellulosic Ethanol, Talc
12 Aug 2016
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Peak oil: the point in time when max. rate of petro extraction is reached followed by terminal decline (bell-curve shape) Peak oil movement: began as academic community in 1956 by petro geologist: king hubbert > predicted u. s. oil production would peak in 1970 > prediction was correct but briefly rebounded when alaskan oil was introduced. Application of theory to u. s and global petroleum production: Arab oil embargo (1973): saudi arabia and major arab oil producers embargoed exports to us due to support for israel during yom kippur war. > us & others took steps to reduce vulnerability to any future embargo; us. President ford created the strategic petroleum reserve (spr), an oil supply stored in louisiana and texas & implemented minimum mileage standards for cars (cafe), which dramatically impacted on oil imports from the late 1970s through the mid- 1980.
