The school bus couldn't make it to school without gasoline. Lubricating oil is also used to keep our automobile engines from getting too hot and to ensure that all moving parts of the machinery are kept in good working order. And people's homes and offices, if heated by oil, would freeze in winter. Here are just a few examples: farm fertilizers, plastic toys and other plastic goods, cosmetics, detergents, and nylon clothing. Because oil is so important, the whole world is affected by what happens to this vital commodity.In fact, our world would almost grind to a halt without oil. This past week an important oil meeting took place in Geneva, Switzerland.Four of the 13 countries come from the oil-rich Persian Gulf.
The meeting brought together 13 countries that belong to an organization set up to control the price of oil and to determine how much oil they should export around the world.
A group of countries that band together to control the price of a product by limiting its supply is known as a cartel (pronounced car-tell). It stands for Organization of Petroleum Exporting Countries.
Natural gas is an ideal fossil fuel that has numerous applications.
There is evidence to suggest that natural gas is abundant in supply and that it can continue to serve as a clean source of energy for a pretty long time, even at the current production rates.
Many of the oil producers that have been making millions or billions of dollars from the higher prices are now finding they are in trouble. There has been less need for oil because the economies of the world are in a slump. And because of the steep oil price, many countries have decided to save oil by using less of it.
Annales Dissertation Philosophie Bac - Conservation Of Oil And Gas Essay
Another way countries avoid the high oil price is to turn to other sources of fuel. The result is that today the world is awash with oil simply because the demand for it has gone down. Gasoline prices in the United States went down about 10 percent last year.Mexico, one of the world's biggest, is not a member. It is true that while OPEC countries do not by any means produce all the world's oil, they have the ability to set the guidelines for world oil prices.This was certainly true 10 years ago, when OPEC increased oil prices four times.The drop in oil prices has naturally hurt the oil-producing countries.Mexico , Nigeria, and Venezuela, for example, now find they don't have nearly as much money as they had hoped.Transportation and electrical generation are some of the other applications of natural gas.Natural gas emits 65 percent fewer emissions than coal and 25 percent fewer emissions than oil.For many countries, especially the very poor countries that do not produce their own oil, this steep price increase caused great hardships.The same was true in 1979, when OPEC doubled the price.There are numerous electric utilities that use this fuel to generate clean power.The gas is also a raw material for manufacturing solar panels and energy-efficient materials.