The production of oil is a multi-billion dollar industry that affects the world on many different levels including environmental and economic, and these affects could be considered either positive or negative. Although there are many products of oil that people rely on every day, oil drilling has long been a controversial topic. Oil spills that endanger wild life and create pollution, and wars fought over lands that contain oil have been just a few of the damaging concerns that become heavily debated when the subject of oil is tackled. The upsides to these debates are the money it generates, the employment opportunities, and the products created using oil such as, gasoline, concrete, plastic, and even some clothes we wear. While oil may also be used to heat houses and generate electricity, one of its major uses is as a fuel.
A huge tanker ship is traveling the icy waters near Alaska en-route to an unknown destination. This tanker has engine trouble which leads to an explosion. Part of the hull is destroyed and a black liquid begins to pour out into the ocean surrounding the ship. Helicopters from the coast guard can be seen trying to rescue the stranded crew members and also contain this disaster. Every news station is doing their best to keep you up to date with the latest on this breaking news. Days later, those same news crews bring you video coverage of the wild life affected by this tragedy. Whales, fish, and birds covered in this black, sticky liquid are shown. Then there are scenes of people capturing animals and removing them from their homes in hopes that they will be able to save their lives. What you have just witnessed is an oil spill.
This story is similar to what really happened on March 23, 1989 i...
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...8, September 5). Alaska permanent fund divident 2008 (Alaska PFD) amount for every Alaska resident is a record $3269. Retrieved January 20, 2010, from Trendite: http://www.trendite.net/2008/09/05/alaska-permanent-fund-dividend-2008-alaska-pfd-amount-for-every-alaska-resident-is-a-record-3269/
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Simmons forecasts an increase of OPEC crude production at or around 1.0 mmbl/d after the March 27 meeting, as well as another hike of 1.5 mmbl/d at their second semi-annual in 3Q00. Their supply and demand forecast for 2000 predicts an average supply shortage of 1.2 mmbl/d, estimating supply and demand at 75.3 and 76.5 mmbl/d respectively. Supply will exceed demand most widely in 1Q00 with 3.6 mmbl/d, while easing to a surplus of 0.3 mmbl/d in 2Q00. Simmons sees 3Q00 undersupply at 1.0 mmbl/d and 4Q00 at 1.2 mmbl/d. The 2001 estimates depict OPEC production remaining stable at 29 mmbl/d, factoring in an additional 0.1 mmbl/d for possible problems with compliance. 2...
In 1908, the U.S. Geological Survey (USGS) predicted that the total future supply of U.S. oil would not exceed 23 billion barrels. In 1914, the U.S. Bureau of Mines predicted that only 5.7 billion barrels of oil remained. In 1920, the USGS proclaimed the peak in U.S. oil production was almost reached. In 1939, the Department of Interior declared that there was only 13 years of oil production remaining. In 1977, President Jimmy Carter claimed, “We are now running out of oil.” Despite these predictions, the U.S. has produced over 200 billion barrels of oil since the early 1900’s. (The Futurist, 1997)
Whether we get around by car, bus, or plane, oil is an important factor in most people's lives. The demand is huge, and prices have shot up fast, making us now seek sources for oil in other countries or by drilling offshore. This essay will address the issue from Taking Sides (2013) of “Should we drill offshore for oil?” First, I will talk about the benefits of offshore drilling, economically and socially. Next, I will talk about various arguments against offshore drilling, paying special attention to possible environmental threats. Finally, I will say my personal beliefs, taking both sides into consideration.
Crude Impact is a documentary created by James Jandak Wood in 2006. His film talks about the connect between humans, oil, and the environment. He informs the viewer that our dependency on oil is the reason for increasing human population growth. Wood also talks about the negative effects oil has on our health and the environment. Because of the United States dependency on oil, it causes great stress to foreign relationships. Wood’s film uncover the truth about oil and informs the audience of its dangers.
Exxon also spent $3.8 billion for the cleanup site, compensating the 11,000 residents who were affected, and paying fines. Surprisingly, it might have been $4.5 billion more. In 1994, the Alaskan court made Exxon pay $5 billion in “punitive damages”. After years of lawsuits and appeals, the U.S. Supreme Court ruled that Exxon only owed $507.5
As we talked and read about the oil topic in class, I first thought that oil was just the black stuff coming out of the ground. I then thought “how can I write an entire essay on just oil?” However, as we started talking, I realized that oil is really all of nature’s resources and these resources are slowly being destroyed.
The usage of oil throughout history has helped form the world and how people live. Countries economies, world politics, and the worlds environment has all been changed by oil. Since there is such a large market for oil, world economy has been affected greatly by trades and prices. In politics, there have been both advancements and conflicts because of the world’s dependence on oil. Oil has also had different effects on the world’s environment. Overall, the dependence on oil has greatly impacted the way the world functions. Without oil, the world would not be in the state it’s in today.
The Exxon Valdez was the largest offshore oil spill in the U.S. until the BP oil spill. The Exxon Valdez spill released over 10 million gallons of oil into the Pacific Ocean. The spill effected over 1,100 ...
Ever since 1908, when Henry Ford manufactured a car that was affordable to most families, the need for oil has been growing more and more every year as humans want more and more products that use oil or are made from it. People and their need for oil far exceeds the need to fill up their car. It stretches out to vast amount of products that people use every day. Including plastics bags when they go shopping, the shampoo they use to clean their hair, the toys their kids play with and the insulation used to keep their houses warm. However with all the positives of oil they’re a lot of negatives that are a result of using oil. One immediate negative oil causes is pollution, oil has two predominant types of pollution. But before we can talk about the different types of pollution. We first need to understand what pollution is. According to Jack Dini and two chapters from his book, Challenging the Environmental Mythology: Wrestling Zeus. Dini says his definition of pollution is “To pollute is to make physically impure or unclean: to contaminate especially with man-made waste” (Dini-2). He later mentions that pollution has two different parameters. The first one being dirtiness and the second being danger. Dini writes “while safety is often talked about as an absolute requirement, modern science can detect such infinitesimally small dangers that the decision about how much health threatening pollution to allow becomes a matter of preference or efficiency, not and absolute.” (Dini-2). By writing this Dini recognizes that there is technology that can tell people when there is to much pollution, however once they know how much pollution there is, it is up to the people to decide when enough is enough and make a change. One being air pollut...
" Oil is the life blood of our modern industrial society. It fuels the machines and lubricates the wheels of the world’s production. But when that vital resource is out of control, it can destroy marine life and devastate the environment and economy of an entire region…. The plain facts are that the technology of oil-- its extraction, its transport, its refinery and use-- has outpaced laws to control that technology and prevent oil from polluting the environment…" (Max, 1969). Oil in its many forms has become one of the necessities of modern industrial life. Under control, and serving its intended purpose, oil is efficient, versatile, and productive. On the other hand, when oil becomes out of control, it can be one of the most devastating substances in the environment. When spilled in water, it spreads for miles around leaving a black memory behind (Stanley, 1969).
Before OPEC seven major oil companies (The Seven Sisters) kept the price of oil the competitive level by restricting output.
Vang, B. (2014b, February 13). Signs the Propane Industry Crisis Easing. In WBAY. Retrieved February 17, 2014, from http://www.wbay.com/story/24719992/2014/02/13/signs-the-propane-industry-crisis-easing
The oil & gas industry is among the largest industries in the world. The sector generates large revenues and employs a large number of people in order to meet the worldwide demand for energy.
The worst imaginable environmental catastrophe that could occur in Maryland has just become a reality. The lifeblood of Southern Maryland's Watermen has been forever affected. The ecosystems of the Patuxtent River and Chesapeake Bay have been irreversibly contaminated. The Three Mile Island and Chernobyl Nuclear Accidents have affected the world ecosystems; but the Chalk Point oil spill has reached us here in Southern Maryland. The ethical considerations with generating electricity from fossil fuels, specifically oil, has a profound impact on us all. We all use electricity to make our lives easier and more productive. By using this electricity have we given our permission for the oil companies free reign in order to provide us with the service we demand?? Are we just as responsible for the oil spill as the corporate leaders who run the companies? As citizens we are in a position to develop and enforce regulations to protect ourselves. Do we also protect the environment; or is the environment just something for us to use? These and many other moral dilemmas exist for modern man.
Dermot Gately, “What Oil Export Levels Should We Expect From OPEC?,” The Energy Journal 28, 2 (2007): 151-173