Petroleum

• AMMAR ALOSIF

Petroleum

• classified as a fossil fuel•  Fossil fuels are formed when sea

plants and animals die, and the remains become buried under several thousand feet of silt, sand or mud

Petroleum

• The United States and Oil Imports • point of fact-  the United States has become ever

more dependent upon imported or foreign oil. A mere thirty years ago, 28% of the oil consumed in the United States was imported. Today nearly 60% of the oil utilized and consumed in the United States is imported from other countries.

Petroleum

• Tankers• Crude oil tankers are used to

transport crude oil from fields in the Middle East, North Sea, Africa, and Latin America to refineries around the world.

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• Oil transportation- Tankers

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• Tankers

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• Hijackinghttp://http://www.youtube.com/watch?

v=3rYHgK4J-Z4

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• Oil transportation- Pipelines

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• Pipelines

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• Trains

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• Panama Canal

Petroleum

• Panama Canal• connecting the Pacific Ocean with

the Caribbean Sea and Atlantic Ocean.• The Canal is 50 miles long.• About 14,000 vessels transit the Canal

annually, of which more than 60 percent (by tonnage) are for traffic to and from the United States.

Petroleum

• Bab el-Mandab canal

Petroleum • Bab el-Mandab canal • chokepoint between the horn of Africa and

the Middle East.• link between the Mediterranean Sea

and Indian Ocean• located between Yemen, Djibouti,

and Eritrea, and connects the Red Sea with the Gulf of Aden and the Arabian Sea.

• Most exports from the Persian Gulf that transit the Suez Canal and SUMED pipeline also pass through the Bab el-Mandab.

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• Malacca

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• Over 60,000 vessels transit the Strait of Malacca per year

• If the strait were blocked, nearly half of the world's fleet would be required to reroute around the Indonesian archipelago through Lombok Strait, located between the islands of Bali and Lombok, or the Sunda Strait, located between Java and Sumatra

Petroleum

• What Causes Oil Prices to Change?- Supply and DemandAs demand increases, oil-producing nations

reduce the supply in order to add value to the limited oil available in the marketplace.

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- when consumers are likely to buy more gas, such as in the summer months, there will usually be sudden increases in the price per gallon.- When consumers stop driving, flying or engaging in other activities that require oil, prices will stabilize or lower as the supply is no longer considered as valuable.

Petroleum Geopolitical Conflicts- Israel's threats to strike the nation of Iran with missiles caused a gallon of oil to rise in June of 2008. - The price per barrel went from about $138 at the beginning of June to $150 in July.- In 2002, unrest in Venezuela caused oil prices around the world to rise. Conflicts can affect the supply of oil by decreasing the methods of transferring the commodity to consumers which will cause a higher price as the supply or predicted supply decreases.

Petroleum

Natural DisastersNatural disasters, such as hurricanes or tornadoes, can greatly impact the price of oil. Oil refineries, drilling equipment and transportation systems can become damaged and curtail operations when natural disasters strike oil-producing areas of the world.

Petroleum

• http://www.petroleum.co.uk/• http://www.quoteoil.com/oil-imports.html• http://www.pacificenergypier400.com/

index2.php?id=18• http://www.ehow.com/list_6110479_causes-

oil-prices-change_.html