Essay On Natural Gas Production

556 Words2 Pages
bulb-icon

Recommended: The influence of OPEC on the world economy

Oil and Natural Gas Production Oil and natural gas production has been exponentially multiplying since 2008, making the United States independent from foreign energy. This is important for the United States economy because in the last century a significant amount of GDP has gone to the importation of Oil and gas, doing so we have become victims of the rise and fall of the volatile prices set by OPEC, driving the United States to economic crisis, as it happened in the 1973 oil crisis where oil prices rose dramatically from $3.00 per barrel to $12.00 per barrel . Oil Production in The United States According to Forbes Magazine “Domestic oil output has surged by 50% since 2010, creating more than 1 million jobs while slashing some 800 million barrels off of annual imports. Shale gas production has risen to more than 10 trillion cubic feet per year from nothing 15 years ago. Oil prices have stayed high, but U.S. consumption has been flat for five years, the U.S. uses 7.5 billion barrels per year. Resulting in $100 billion a year in petrodollars that now stay in the U.S. instead of...

Show More
Related

  • US Needs to Have Energy Independence

    795 Words  | 2 Pages

    Arguments: America is dependent on other nations for their ability to create energy. The United States is the world’s largest consumer of oil, at 18.49 million barrels of oil per day. And it will continue to be that way for the foreseeable future, considering the next largest customer of oil only consumes about 60% of what the U.S. does. This makes the U.S. vulnerable to any instability that may arise in the energy industry. In 2011, the world’s top three oil companies were Saudi Aramco (12%), National Iranian Oil Company (5%), and China National Petroleum Corp (4%).

    Read More

  • Argumentative Essay On Fracking

    1715 Words  | 4 Pages

    Hydraulic fracturing, commonly referred to as fracking, is a widespread practice in the United States. Fracking is a method used to extract oil and natural gas. Scientists and citizens report detrimental side effects of hydraulic drilling. New York and Vermont have banned fracking statewide. Maryland has set a two year moratorium on fracking, so that more research can be done to show the impacts of fracking on the environment. Nationwide, many other cities and counties have banned fracking as well. All states should look into finding alternative sources of energy, instead of using devastating practices like fracking to extract non-renewable resources.

    Read More

  • America’s Dependence on Foreign Oil

    1087 Words  | 3 Pages

    Every year the demand for oil grows, and the amount the U.S. produces decreases while the amount of oil America imports increases. In 1994 the oil imported from OPEC members was about 1,400,000 thousand barrels in 2008 it was about 2,200,000 thousand barrels. The amount of American oil imported from non-OPEC members was roughly 1,700,000 thousand of barrels to 3,000,000 thousand barrels. According to eia.doe.gov the U.S. imported roughly between 4,000,000 and 4,500,000 thousands of barrels of oil in 2010. All this boiled down means that the U.S. imports more than half of all its oil. And at the current rate the U.S. spends roughly $13 million dollars on oil per hour. Furthering its impact on our economy the NRDC found that roughly 1/5 of our trade deficit stems from imported oil. Every day the U.S. loses $390 million to foreign oil, money that could be spent on the United States’ infrastructure, or helping to get the U.S. out of its recession. This is money that is most likely not going to be reinvested in America and will only further our deficit. Another problem outside our spending is the fact that we are importing from some highly unstable nations...

    Read More

  • Essay On Fracking

    1982 Words  | 4 Pages

    Throughout the past three decades, energy has been a perennial issue in United States politics, economics, and media. The main concern surrounding this topic is the idea of energy independence and how the United States should proceed into the future. Energy independence relates to the goal of reducing United States dependence on importing foreign oil and other foreign energy sources. This desire aims to maintain energy dependence domestically so the United States can avoid reliance on any unstable countries and be detached from global energy supply distribution. It is currently being speculated that the United States might not be too far off from this goal. America’s dependence on foreign oil has gone down every single year since 2007. In 2010, the U.S. imported less than 50 percent of the oil the country consumed -- the first time that’s happened in 13 years -- and the trend continued in 2011 (Zhang.) Experts credit new technology as the reason the United States is within several years of again becoming the biggest oil producer in the world, and perhaps two decades away from full energy independence. Hydraulic fracturing, fracking, is the “lead” technology in this technological revolution. Fracking is an economically more feasible way of drilling for oil or gas in harder to reach geological formation. Within the past decade or so, combining hydraulic fracturing with horizontal drilling has opened up shale deposits across the country. It has brought large-scale natural gas drilling to new regions that may not have had accessible deposits in the past. These areas have greatly benefited from the addition of this industry to their local economies. Certain are...

    Read More

  • The Consequences of Drilling for Natural Gas

    1644 Words  | 4 Pages

    The United States relies on imports for about forty percent of its crude oil, which is the lowest rate of dependency since 1991 according to the U.S Energy Information Administration. Today our country is trying to keep on track in becoming less and less dependent. When it comes to the topic of the future ways the United States will get its fuel, most of us readily agree that the United States should become more independent by using natural gas that is already here on our land. Where this argument usually ends, however, is on the question of the consequences drilling for natural gas brings. Whereas some are convinced drilling is safe, others maintain that it is actually in fact dangerous. Hydraulic fracturing or "fracking", the terms for drilling for natural gas, is dangerous to our public health and to the environment because of the water contamination it causes. Therefore, it is not something that should become a project for alternative fuel used by the United States.

    Read More

  • Fracking Environmental Issues

    958 Words  | 2 Pages

    and any was the loss of coal production and jobs in the coal industry thi wouls more modern technology of fracking this will produce 1.7 million jobs predicted to rise to 3 million by the end of the decade and has reduced the price of oil. Therefore, we don’t have to depend on other countries for the import of oil. In the words of (Loh p222) “Proponents assert that hydraulic fracturing, in combination with other alternative sources of energy, has already made the United States a net energy exporter and much less dependent on coal, thus reducing the negative environmental impacts associated with

    Read More

  • Natural Gas In The 1970's

    947 Words  | 2 Pages

    Natural gas is not a renewable resource, since there is a fixed amount of it trapped in the Earth. However, many people think that there is a small amount of natural gas and that we may use it all up. This is not true. There was said to be a gas shortage in the 1970’s so prices of oil skyrocketed from three dollars a barrel to twelve dollars a barrel. In reality, this was an excuse prompted by the government's lack of faith in the industry's ability to discover and develop new reserves, and not by lack of gas supply. The disastrous impression left by the “shortages of gas” in the 1970's is that there is little gas left to be discovered and will soon run out . However, in reality, the gas resource base is massive, and probably even larger than

    Read More

  • Argumentative Essay On Fracking

    1029 Words  | 3 Pages

    Fracking is a highly controversial practice that utilizes the injection of water, chemicals and abrasives to extract relatively inaccessible pockets of natural resources. Although fracking has the potential to benefit the economy, it may also pose a significant impact on the environment, the ecosystem and safety.

    Read More

  • How Does Oil Affect The Middle East

    676 Words  | 2 Pages

    In 2017, citizens of the U.S. consumed a total of 7.26 billion barrels of petroleum products, amounting to an average of about 19.88 million barrels per day. In Middle Eastern countries, oil exportation is heavily relied on by the population to support the economy, however it is one of the leading causes of issues. The Middle East is not all problematic, though, as some countries choose to spend their money on education. Disputes between countries over oil control spurs conflicts, and can lead environmental issues. Although there can be benefits, the Middle East has been more negatively than positively affected by oil.

    Read More

  • Coal Vs Natural Gas Essay

    1344 Words  | 3 Pages

    This paper was designed to look more in detail at the power industry and the environment. The topics in this paper include: coal and its impact on the environment, natural gas and its impact on the environment, and basic economics. Specifically, this paper seeks answers to the following questions:

    Read More

  • Essay On Fracking

    540 Words  | 2 Pages

    Consumption Economics –The demand for oil and gas will continue to increase and so will production with unbelievable benefits.

    Read More

  • Persuasive Speech: Solar Power

    1587 Words  | 4 Pages

    Significance: The United States must face the fact that the world is running out of oil and with today’s rising oil prices, economic and political instability in regions where the United States gets the majority of its oil, this country must begin looking into alternative means of energy to replace oil and end our dependence on foreign powers.

    Read More

  • Natural Gas Essay

    1276 Words  | 3 Pages

    NiSource is one of the biggest natural gas distribution companies in the USA. Company is not responsible for the production of natural gas, but rather purchases fossil fuel at the source and transmits supply thru its pipelines to industries and local costumers. Natural gas can be transported to distribution facilities in two ways: underground gas pipelines or shipped by the sea in LNG tankers. In nature during the extraction, natural gas exists as a gas, which needs to be captured by special pipeline system designed for gathering processes. Captured gas contains water and other impurities that have to be removed in production well. In order to be transported, it needs to be cooled and transformed into liquid, which increases transportation efficiency to processing units and improves transportation cost ratio. Regasification is the process when "wet", liquid natural gas is processed and changed to pipeline quality natural gas. Natural gas needs to be turned back to gas in order to be useful for residential and commercial customers. This process needs to be monitored and measured for quality and content of natural gas due to the risk of pipeline rupture and safety. "Natural gas entering the system that is not within certain specific gravities, pressures, Btu content range, or water content level will cause operational problems, pipeline deterioration, or even cause pipeline rupture."1 Natural gas transported to distributors is called "dry" gas due to the physical state.

    Read More

  • Natural Gas Essay

    1195 Words  | 3 Pages

    Energy plays an important role in every country’s economy. Natural gas is the cheapest fuel, relatively cleaner, lower in density as compare to the other

    Read More

  • Essay On Coal Gasification

    1182 Words  | 3 Pages

    Coal is the largest source of energy for the generation of electricity worldwide, at the same time, one of the largest anthropogenic sources of oxides of carbon and other green house gases released in to atmosphere. Coal gasification has emerged as a cleaner technology for production of combustible gases for power and heat generation which reduces the carbon dioxide emission.

    Read More

More about Essay On Natural Gas Production

Open Document