Transcription of Chapter 8 PETROLEUM
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Chapter 8 PETROLEUM
Chapter 8 PETROLEUMFor the foreseeable future, oil will remain a critical fuel for the United States and all otherindustrialized nations. [In order to make the economy less dependent on oil,] theNational Energy Strategy proposes initiatives to (1) reduce the economic consequences ofdisruptions in world oil markets, and (2) increase domestic oil and PETROLEUM productsupplies.(National Energy Strategy, Executive Summary, 1991/1992)The growing level of oil consumption raises potential economic and national securityconcerns. In addition to emphasizing efficient use of oil products and enhancing fuelflexibility, national energy policy must address declining domestic production levels withminimum interference with market forces. The Administration's policy is to improve theeconomics of domestic oil production by reducing costs, in order to lessen the impact onthis industry of low and volatile prices.(Sustainable Energy Strategy, 1995)138 Chapter 8 PETROLEUM (or crude oil) is a complex, naturally occurring liquid mixture containing mostlyhydrocarbons, but containing also some compounds of oxygen, nitrogen and sulfur.
138 CHAPTER 8 Petroleum (or crude oil) is a complex, naturally occurring liquid mixture containing mostly hydrocarbons, but containing also some compounds of oxygen, nitrogen and sulfur. It is often referred to as the “black gold.” The Rockefellers, the Rothschilds, the Gettys, the
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