Welcome! Please read the board and review your notes for today’s quiz – Obj #6-12 and 17-19.
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Transcript of Welcome! Please read the board and review your notes for today’s quiz – Obj #6-12 and 17-19.
OPEC is a cartel OPEC –
Organization of Petroleum exporting countries: Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela
US reserves – fracking has created big changes! (mark these on your diagram)
Peaked in 1972- 9.6 million barrels daily Declined between 1970-2005; US importing up to 60%
of petroleum requirements; exports banned 2005 – Fracking technology makes more reserves
economically viable 2011 – current boom explodes with fracking US crude output expected to crest around 9.5 million
barrels per day in 2016, then begin to decline in 2020. (7.5 million barrels/day projected through 2040)
Other options: the Unconventionals require extra production steps
Tar SandsMixture of clay,
snad, water and bitumen (Thick, high-sulfur heavy oil)
Shale oil Type of oil
produced in fracking.
Net Energy -
The difference between the energy expended to harvest/produce an energy source and the amount of usable energy gained from that harvest
The more steps of production there are, the lower the net energy.
Concept is useful in evaluating sustainability of energy choices.
Which has lower net energy – traditional oil production or tar sands? The difference
between the energy expended to harvest/produce an energy source and the amount of usable energy gained from that harvest
Defend your choice!!!