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Are we making the best use of crude oil?

Extracts from this document...

Introduction

Are we making the best use of crude oil? Crude oil is an important substance used in everyday life e.g. paint, fuel, fertilisers, medicine and many more. As you can see crude oil plays a huge impact on our lives, however are we using crude oil to the best extent? The use of crude oil is at an unsustainable rate, one day we may run out therefore in this essay I am going to be trying to answer this decisive question 'are we making the best use of crude oil?' Crude oil, also well-known as a fossil fuel, is the term used for "unprocessed oil". Naturally derived from decaying plants and animals, crude oil is a fossil fuel. It is made up of various elements or compounds such as carbon, hydrogen, sulphur, nitrogen, oxygen, metals and salts. Due it to its constituency, crude oil differs in colour from plain to tar-black and in viscosity, from water to nearly solid. The main component of crude oil is hydrocarbon, which contains a lot of energy. Hence, crude oil is used in generating many forms of energy such as gasoline, diesel and other fuel oils. ...read more.

Middle

The only areas that decreased or stayed similar are North America and Asia & pacific. The reason why some areas increased in proven reserves of crude oil is because they spent money on research and more money in converting the ultimate reserves into proven reserves. The proven reserves of crude oil increased in: south & central America by 63%, in Europe & Eurasia by 89%, middle east by 33%, Africa by 100% and Asia & pacific by 2.5%. It decreased in North America by 32%. (Source 10) Area Production (In millions of tonnes) Consumption (In millions of tonnes) Year Year 2003 2004 2005 2006 2007 2003 2004 2005 2006 2007 N America 670 667 645 647 643 1091 1134 1139 1130 1134 S & C America 318 338 347 345 333 221 237 236 239 252 Europe &Eurasia 819 850 845 848 861 941 962 957 969 949 Middle East 1123 1193 1215 1224 1202 248 261 271 281 293 Middle East 398 441 467 473 489 120 124 129 162 138 Asia & Pacific 373 377 378 378 379 1058 1123 1136 1158 1185 Total world 3701 3866 3897 3915 3907 3679 3831 3868 3939 3951 (Source 10) ...read more.

Conclusion

And we rely on crude oil for many things and this non-renewable fuel is running out fast, so what will happen when it eventually runs out? If you look at the tables they show they show we are low on proven reserves hence the price of crude oil is raising significantly, so unless an alternative is found soon, it will affect the economy, environment and raise social issues. The economy will be impacted as the prices of fuel will rise and the countries with the most crude oil will be rich. Countries which do not have a lot of crude oil will lose a lot of money as it will have to import it from other countries. Social problems such as wars will begin over the last few drops of crude oil. The environment is also facing many problems because of pollutants released from fuels such as crude oil. So after judgment relating to every source and information I have collected, I have come to the conclusion that we are making the best use of crude oil; we are making fuels from it as there is nothing to replace it the need of energy. But I think we should fund research on alternative sources of fuel so that we can stop with crude oil as its damaging the environment and will cause social issues. ...read more.

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