OIL AS A RESOURCE

The oil production and consumption has been a vastly discussed issue. Being that oil is one of the main energy sources that are being consumed. However because oil is a finite resource it will be a matter of time before this resource runs out. Further more because of the uneven distribution of where oil is found or situated and the many political issues that evolve around the price and where oil is being depleted. And where these oil can be retrieved is at oil reservoirs that are from but an accumulate of high pressure and temperature forming Hydrocarbons then results to oil and gas. Later these oil and gas are seeped through the fractures in the rocks and they are trapped underground, which are the oil reservoirs.

The distribution of oil is fairly uneven as the distribution of the oil is clearly situated on the northern hemisphere of the world uses a lot more oil than the rest. Also countries such as the United States as had shown on graph uses more than .07 barrels per person each day. Clearly the demand for oil varies over each country. This can be due to many factors such as economical or technological.

The main countries that are producing oils are all mostly in the Middle East and Africa. And these countries all have something in common which is that they are all OPEC members. OPEC is the Organization of Petroleum Exporting Countries; this cartel’s main objective is to safeguard the Organization’s interest, also it pursues ways to stabilize the price in the oil market eliminating the unnecessary fluctuations.

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Also as these countries are mostly less economically developed countries. The OPEC has been maximizing economic objectives. Also as this is one an organization of the people that export oil it will always be there best interest to keep the price of oil high. And also keep the supply of oil at a certain rate which can suggest that they will do anything to protect their cooperates interest. Also these cooperates are ready to use their political influences in order to improve on their profit.

        Where oil is found can be seen on the map above it is ...

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