Tag Archive | "Imported OIl"
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The graph below displays a close correlation between growth in the Gross Domestic Product (GDP) and oil demand growth from 1971 until 2007. There is every reason to believe that the correlation established during this 36-year period will continue into the future. There is a high degree of correlation [...]
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The energy flow diagram below depicts sources of energy and their utilization. For example, petroleum is used by transportation (70%) and manufacturing (30%). The energy output of these two services flows into rejected energy and energy services (i.e., energy conservation). Natural gas is used for electrical energy generation, as well as heating for residential, commercial [...]
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The pie chart shows the amount of annual energy consumed in the United States during 2009 from petroleum, natural gas, coal, nuclear and renewable sources. Petroleum is used for transportation and manufacturing. Furnaces, dryers, transportation, fertilizers, hydrogen production and electric power generation consume natural gas. Coal is used to generate electricity and is utilized by [...]
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The graph below shows that 94 percent of the world’s oil reserves are controlled by national oil companies, such as NIOC (Iran), Saudi Aramco (Saudi Arabia), Gazprom (Russia), etc. ExxonMobil, BP and other international oil companies own the remaining oil assets. See the two arrows located over BP and ExxonMobil on this graph to comprehend [...]
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Several decades ago the United States was a major exporter of crude oil. There was plenty of secure, domestic crude oil to make gasoline for passenger cars. Gasoline prices were generally stable. Now the United States imports 60 percent of its crude oil needs. That means availability of gasoline for 137 million passenger cars is [...]