Article by Rick Vance
Many experts believe that more than half of America’s gas supply will come from unconventional gas production in twenty years or so. New technological developments, such as extraction from the Barnett Shale in Texas, are opening up exciting energy resources.
New and prosperous energies are cropping up as scientists constantly hunt for approaches to improve existing ways of drilling for oil. New resources like gases, minerals, and by-products of oil are discovered beneath the earth’s surface frequently. To harness these resources and improve methods of drilling for oil is as financially sound as it is practical.
For more than a century, oil and petroleum products have powered the world. Motor fuel demand has only grown during this time, and continues to increase as time goes on. Many analysts believe that in the upcoming decades this demand is set to double. To accommodate this, the world needs gas and oil.
We use oil everyday in ways that don’t initially spring to mind. Oil is a key ingredient in making thousands of commercial products that make our lives comfortable and easier. As an example, petroleum is found in Vaseline and hundreds of moisturizers. Oil refineries use chemical processing that turn crude oil into mixtures that produce products like plastics, synthetic rubber, synthetic fiber, drugs, and detergents. These products help us make materials more flexible and productive, make the clothes we wear everyday more comfortable and create drugs that help us fight disease and life threatening illnesses.
Three Major Types of Petroleum Based Products:
The first, obviously, are fuels. Gasoline and diesel fit into this category. Next are solvents and lubricating oils. Finally, there are products like naphtha (which are feedstocks).
It is quite obvious that oil and all of its by-products are not only extremely versatile, but extremely necessary also. Our society, whether we like it or not, is highly dependent on this resource. Transportation is a huge factor, and it is not just in our vehicles. The airline industry is one of the biggest oil consumers on the planet and we’ve yet to find a viable alternative. The industrial sector comes in second, and the remaining consumption may be attributed to commercial and home use.
To date, humans have extracted or produced more than 1 trillion barrels of oil. The demand is growing and set to double in the coming decades, which means that in less than a quarter of the time it’s taken us to use that much, we’ll be doubling our oil exploration and extraction. The biggest resources for this future demand are most likely both unconventional gas resources as well as yet to be discovered conventional oil reserves. It’s vital that our processes for exploration, extraction, and production are streamlined and perfected, and scientists and the industry as a whole is working against time to ensure that is so as our heavy demands increase. Resource management and exploration is more important now that at any other time in our history.