 Petroleum is found beneath the surface of earth.  Petroleum consists of dead organic matter that has decayed and aged over millions of years with the absence of oxygen.  Organic material accumulates over a source rock which turns to petroleum.  A good source rock is sedimentary rocks such as shale or limestone that contains 1- 5% organic carbon.

Compare Currently it costs $98.10 for a barrel of crude oil. BARRELS US GALLONS LITRESUK GALLONSPINTS BARREL US GALLON UK GALLON LITRE1/ PINT1/

 Oil Drilling and Services › Drilling: Drilling companies physically drill and pump out the oil.  Land Rigs: Drilling Depths ranges from 5,000-30,000 ft  Submersible Rigs: Used for ocean, lake and swamp drilling. The bottom part of these rigs are submerged to the sea’s floor and the top platform is on top of the water  Jack-ups: this type of rig has 3 legs and a triangular platform which is jacked-up above the highest anticipated waves  Drill Ships: These look like tankers/ships, but they travel the oceans in search of oil in extremely deep water › Oilfield Services: Oilfield service companies assist the drilling companies in setting up oil and gas wells. These companies in general manufacture, repair, and maintain equipment used in oil extraction and transportation. Seismic Testing: This involves mapping the geological structure beneath the surface Transport Services: Both land and water rigs need to be moved around at some point in time Directional Services: All Oil wells are not drilled straight down but rather are drilled at angles or in horizontal holes

Global Oil Consumption of 2009

Top World Oil Net Exporters, 2006 CountryNet Exports (million barrels per day) Saudi Arabia8.65 Russia6.57 Norway2.54 Iran2.52 Unites Arab Emirates2.52 Venezuela2.2 Kuwait2.15 Nigeria2.15 Algeria1.85 Mexico1.68 Libya1.52 Iraq1.43

 There really is no significant use for pure crude oil, but it’s used for a number of things when processed  Used to make a variety of fuels such as gasoline, diesel fuel, kerosene, and many other types of fuels.  Also used to make fertilizers and pesticides.  Main ingredient for making synthetic rubbers  Use for cosmetics and perfumes  Use to make products such as

 Ample supply for the years  Low cost with high subsidies  High net energy yield  Easily transported within and between countries  Low land use  Technology is well developed efficient distribution system

 Oil is a nonrenewable source that takes millions of years to form We also degrade oil at a faster rate than what is produce within our lifetime A need to find substitutes within the next 50 years  Artificially low price encourages waste and discourages search for alternatives  Oil causes air and water pollution when burned Releases CO 2, SO 2, SO 3 that can heighten the acidity of rainfall  Shipping oil is expensive and dangerous The resulting effects are catastrophic, mostly leading to hazardous effects on marine life, birds and coastlines  The damage is left for many, many generations