Price of petroleum

an average of about 3.3 billion barrels. North Carolina is expected to have about 20,000 jobs created in fifteen years if oil is exploration begins in 2017. Thousands more jobs will be created along the East Coast as a result of all those jobs. Oil prices will likely not decrease however because oil is a worldwide demand, and we will likely be just decreasing our foreign oil imports as a result of the increased domestic oil…

renewable energy technologies crowds out investment in fossil fuel technologies such as coal fired power plants, oil fired heating systems. This substitution effect leads to profit losses in the respective economic sectors. This connects to the increasing prices of the renewable energy systems in due to its higher demand. In order to get to the benefits that come with using renewable energy it would take large investments and a structured economy to achieve the goal, because the benefits will…

Canada (Alberta Energy, 2012). Arguably, the capital gained from exporting Athabasca bitumen or crude oil (a form of petroleum) promotes job and economic growth, and also contributes royalties toward Albertan education and healthcare. On the other hand, the growing reliance on the Athabasca oil sands makes the Canadian economy incredibly susceptible to collapses in global oil prices. Furthermore, the region immediately…

A choice is never as easy as it may seem. While making a decision that will impact millions of people it is important to fully analyse the situation from both perspectives. In the case of the Kinder Morgan Pipeline, there have evidently been two choices presented to Prime Minister Justin Trudeau. One is to support and implement the Pipeline and the latter being to oppose and prevent it from coming to fruition. It has become extremely important for Mr. Trudeau to weigh the benefits and…

When purchasing a specific vehicle, choosing a vehicle that generally releases less emissions is the best option because it is better for the environment. In the past, car were bigger and they used to burn a lot more emissions because these vehicles had no filters. Beginning in 2007, newer engines (Gasoline or Diesel) have been fitted with a filter in the exhaust pipe to capture soot particles. Diesel technology has changed over time and has become better for the environment because the engines…

ecosystem, dead. Soon after these images were made public on every news outlet of the time, the PR machine at one of the largest fossil fuel companies went to work. With spin and confuse tactics, paying off “everyday folks” to say they stood by British Petroleum and appreciated so much that they were there to help. The year was 2010, an oil rig drilling roughly 45 miles off the coast of Louisiana exploded causing a disaster on levels not previously seen in history. The facts of this instance are…

Keystone XL is a pipeline that will carry crude oil from Alberta, Canada’s tar sand oil reserves to Nebraska and Texas where the crude oil will be refined. This pipeline was first proposed in 2005 by the TransCanada Corporation, and the extension that we know as Keystone XL was proposed in 2008 where its purpose was to increase American jobs in the Midwest as well as decrease our dependence on foreign oil supplies. This pipeline has been surrounded by controversy since the genesis of the…

An unexpected hail storm can do a great deal of damage in a short period of time. As cars are often exposed to the elements, auto hail damage denver is a common problem. Although many individuals protect their vehicle by parking it in a garage when they are at home or work, there are times when the car will be exposed. One can never know when this type of storm will hit either, thus people need to be prepared at all times and understand their options when it comes to auto hail damage repair…

current gas prices. Why do the gas prices change from day to day? Today the average gas price has come down about 40 cents, since early April of this year. Drivers in the United States are expected to use about 133 Billion gallons of gasoline this year; the 40 cent price break is about %53 billion in yearly savings if it were to stay in place for a full year. Then there is an increase in gas prices there is a tax on consumers. However, a decrease in gas prices is a tax cut. Lower gas…

located in Canada, tar sands are found in several places around the globe, including Venezuela, the United States, and Russia (Rudzinski, n.d). Through open-pit mining and in-situ, tar sands are mined and then processed and changed to crude oil and petroleum products. However, are tar sand operations worth sacrificing the planet? Despite the energy supply…