GEOPHYSICAL ACTIVITY IN THE OIL INDUSTRY IN THE UNITED STATES IN 1947

Geophysics ◽  
1948 ◽  
Vol 13 (4) ◽  
pp. 529-534 ◽  
Author(s):  
E. A. Eckhardt

In 1947 the oil industry of the United States produced 2.011 billion barrels of crude oil and natural‐gas liquids. The same number of barrels of new oil must be discovered in one year if the industry is to maintain its reserves. This provides a measure of the exploration job to be done.

2016 ◽  
Vol 32 (4) ◽  
pp. 141-156
Author(s):  
Tadeusz Olkuski ◽  
Adam Szurlej ◽  
Barbara Tora

AbstractThe trend towards globalization can be observed for many years. It is reflected by the ongoing elimination of trade barriers between countries and the introduction of a system of mutual recognition of quality standards. The best example is the European Union, where a common market for many industries has been developed. Such a common market has already existed before in the United States of America and that this is why the negotiations on the merger of the largest and most developed economies in the world started in 2013. The currently negotiated agreement, the Transatlantic Trade and Investment Partnership (TTIP) is designed to eliminate barriers to trade and capital flows between the two mentioned markets. The article attempts to evaluate the trade of energy commodities, namely crude oil and natural gas, between the European Union and the United States. The estimates for the next years are based on historical data and the current state. The dynamics of natural gas and crude oil production in the European Union and the United States, as well as changes in the import and export of these energy resources, have been shown. The volume of gas production from the largest North American deposits was also subjected to analysis. Special attention was paid to natural gas from unconventional deposits, as its production is expected to grow continuously until 2040. Meanwhile, the production of gas from conventional deposits is expected to decrease. The rest of the paper is focused on the balance sheets of cash for oil and natural gas. It was pointed out that the market situation for both commodities is different. In the EU, the production and consumption of both crude oil and natural gas gradually decreases, while in the United States this trend is reversed. On the other hand, some similarities can be seen in the refining industry. In recent years, many refineries were closed both in the European Union and in the United States. However, though this trend was more pronounced in Europe. In the case of liquefied gas (LNG), the expansion of US gas to Europe can be expected. Currently, the United States is building about 30 export terminals and production surpluses will certainly be exported to Europe. Judging by the pace of development of export terminals, it can be assumed that the power of condensation can reach up to 110 million tons in the near future and, as a consequence, natural gas in the form of LNG will be supplied to the European market.


Rangelands ◽  
2007 ◽  
Vol 29 (5) ◽  
Author(s):  
Jerry L. Holechek ◽  
Jerry Hawkes ◽  

Skyrocketing trade deficits coupled with depletion of oil and natural gas reserves could make rangeland livestock production essential to food security in the United States.


Author(s):  
Michael B. McElroy

This chapter discusses steps that could be taken to realize the long- term goal of reducing, if not eliminating, climate- altering emissions associated with the consumption of coal, oil, and natural gas. I choose to focus on initiatives that could be adopted over the next several decades to advance this objective in the United States. The key elements of the vision proposed for the United States should be applicable, however, also to China and to other large emitting countries. As indicated at the outset, the overall focus in this volume has been on the United States and China, the world’s largest emitters of greenhouse gases, recognizing at the same time differences in states of development and national priorities of the two countries. The vision I outline here for a low- carbon-energy future for the United States should apply also to other countries. The time scale for implementation may differ, however, from country to country, depending on details of local conditions and priorities— economic, social, and environmental. The data presented in Chapter 3 (Figs. 3.1 and 3.2) provide a useful starting point— essential background— for discussion of potential future scenarios (US EIA 2015). They define how energy is used in the current US economy and the services responsible for the related emissions, with key data summarized in Table 16.1. Generation of electricity was responsible for emission of 2,050 million tons of CO2 in 2013, 1,580 million tons from combustion of coal, and 442 million tons from natural gas, with a minor contri-bution, 34.7 million tons, from oil. The residential, commercial, and industrial sectors accounted, respectively, for 38%, 36%, and 26% of emissions associated with economy-wide consumption of electricity. The power sector was responsible for 38% of total national emissions. Transportation contributed an additional 1,826 million tons, 34% of the national total. The bulk of the emissions from transportation (98%) was associated with consumption of petroleum products, gasoline, diesel fuel, and jet fuel, with the balance from natural gas


2018 ◽  
Vol 10 (9) ◽  
pp. 3322 ◽  
Author(s):  
Jong-Hyun Kim ◽  
Yong-Gil Lee

Since 2007, shale oil and gas production in the United States has become a significant portion of the global fossil fuel market. The main cause for the increase in production of shale oil and gas in the US is the adoption of new production technologies, namely, horizontal drilling and hydraulic fracturing. However, the production cost of shale oil and gas in the US is comparably higher than the production cost of conventional oil and gas. In 2014, the crude oil and natural gas price decreased significantly to approximately 40 dollars per barrel, and natural gas prices decreased to 3 dollars per million British thermal unit, and thus the productivity and financial conditions for the exploration and production of shale oil and natural gas for producers in the United States have worsened critically. Therefore, technological innovation has become one of the most interesting issues of the energy industry. The present study analyzes the trends in technological innovation having a relationship with production activities. This study calculates the learning rate of 30 companies from the petroleum exploration and production industry in the United States using an improved learning rate calculation formula that reflects the changes in the oil production ratio. Thus, more statistically confident calculation results and interpretations of strategic production activities with regard to changes in the industrial environment were achieved in this study.


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