OIL

OIL

You burn oil for it to work
It produces energy
Oil can also be a lubricant

Oil is Nonrenewable

The history of oil
Before the 19th century many people used oil as a lubricant, adhesives, etc.
It largely stayed under the earth not touched by humans.

Continued
Oil became popular in the 19th century. Then it became used for what we use it as today. gas powered vehicles,
your standard oil, warfare, etc.

Oil is a fossil fuel found in large quantities under earths surface it is a smelly black liquid typically found in reservoirs

Oil is stored in barrels of varying sizes in warehouses and in large tanks that hold thousands of barrels of oil

Uses

• Vehicles, warfare, standard oil
• Asphalt, fertilizer, heating
• Feedstock, petrochemicals
• Plastic, polyurethanes, solvents
• Electrical generation and more

Is it efficent?
We use 1/2 as much oil per GDP as in 1980.
Between 1990 and 2005 capacity grew by 68%
The energy production per gallon of oil compared to the production costs makes oil a good source

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Capital costs-
100,000 barrels $3-10 billion
Setup costs-
$1,466,000-2,001,000

ADVANTAGES

• High energy density
• Easy to find and use
• Crucial for wide variety of industries
• Easy to produce
• Consistant power source and reliability

DISADVANTAGES

• Limited supply
• Damages the earth
• Pollution
• Over dependent

ECONOMIC IMPACT

• Oil prices are low.
• Economic activity is up
• Unemployment rate is declining

RAISES CARBON LEVELS

OIL PRICES ARE LOW

Oil has a long future until we run out or theres a cheaper more productive way of running machines

THE END