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Peak oil is the theorized point in time when the maximum rate of extraction of petroleum is reached, after which it is expected to enter terminal decline. Peak oil theory is based on the observed rise, peak, fall, and depletion of aggregate production rate in oil fields over time.

King Hubbert June The world at large consumes 30 billion barrels 4. East Africa Metals Inc. Industrial and Commercial Bank of China. Die Liste erschien am 4.

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Peak oil is the theorized point in time when the maximum rate of extraction of petroleum is reached, after which it is expected to enter terminal decline. Peak oil theory is based on the observed rise, peak, fall, and depletion of aggregate production rate in oil fields over time.

African Energy Resources Ltd. African Gold Group Inc. African Rainbow Minerals Ltd. Agnico Eagle Mines Ltd. Aguila American Resources Ltd. Alderon Iron Ore Corp.

Alpha Natural Resources Inc. Alta Mesa Resources Inc. Altan Nevada Minerals Ltd. Altan Rio Minerals Ltd. Altus Strategies Plc Alumina Ltd. American Creek Resources Ltd. American CuMo Mining Corp. American International Ventures Inc. American Lithium Minerals Inc.

American Pacific Borate and Lithium Ltd. American Pacific Mining Corp. American Sands Energy Corp. Anglo American Platinum Ltd. Antler Hill Mining Ltd. Antofagasta plc Apache Corp. Arctic Star Exploration Corp. Arizona Silver Exploration Inc. Asian Mineral Resources Ltd. Aston Bay Holdings Ltd. Aus Tin Mining Ltd. Austsino Resources Group Ltd. Auxico Resources Canada Inc. Avalon Advanced Materials Inc. Banpu Public Company Ltd.

Baralaba Coal Company Ltd. Barkerville Gold Mines Ltd. Bear Creek Mining Corp. Beauce Gold Fields Inc. Belo Sun Mining Corp. Black Dragon Gold Corp. Black Mammoth Metals Corp. Black Tusk Resources Inc. Blind Creek Resources Ltd. Blue Moon Zinc Corp. Blue Ridge Mountain Resources Inc. Blue River Resources Ltd.

Blue Sky Uranium Corp. BlueBird Battery Metals Corp. Bonanza Creek Energy Inc. Botswana Diamonds plc Bougainville Copper Ltd. BP plc Bravada Gold Corp. Broadway Gold Mining Ltd. Broken Hill Prospecting Ltd. Buchans Wileys Exploration Inc.

Buenaventura, Compania de Minas S. Bullion Gold Resources Corp. Bunker Hill Mining Corp. Cadence Minerals plc Cadillac Ventures Inc. California Gold Mining Inc. Canada Cobalt Works Inc. Canada One Mining Corp. Canada Rare Earth Corp. Canadian Energy Materials Corp.

Canadian Natural Resources Ltd. Canadian Premium Sand Inc. Canadian Silver Hunter Inc. Canoe Mining Ventures Corp. Cantex Mine Development Corp. Cape Lambert Resources Ltd. Cariboo Rose Resources Ltd. Castle Peak Mining Ltd. Centamin Plc Centaurus Metals Ltd. Central Iron Ore Ltd. Century Global Commodities Corp.

Cerro de Pasco Resources Inc. Cerro Grande Mining Corp. Cerus Energy Group Ltd. Chalice Gold Mines Ltd. Champion Bear Resources Ltd. Chatham Rock Phosphate Ltd. Cheetah Canyon Resources Corp. Chelsea Oil and Gas Ltd. Chester Mining Company Chevron Corp. Chibougamau Independent Mines Inc. China Coal Energy Company Ltd. China Gold International Resources Corp. China Molybdenum Corporation Ltd. China Nonferrous Gold Ltd.

China Rare Earth Holdings Ltd. China Shenhua Energy Company Ltd. Churchill Mining plc Cibolan Gold Corp. Clayton Williams Energy Inc. Clean TeQ Holdings Ltd. Clear Mountain Resources Corp. Cleveland Mining Company Ltd. Cobalt 27 Capital Corp. Cobalt Blue Holdings Ltd. Cobalt Power Group Inc. Colombia Crest Gold Corp. Colonial Coal International Corp.

Compania Minera Autlan S. Condor Gold plc Condor Petroleum Inc. Connacher Oil and Gas Ltd. Consolidated Tin Mines Ltd. Consolidated Woodjam Copper Corp. Constantine Metal Resources Ltd. Continental Precious Minerals Inc. Copper Fox Metals Inc. Copper Lake Resources Ltd.

Copper Mountain Mining Corp. Coral Gold Resources Ltd. Cornerstone Capital Resources Inc. Crescent Point Energy Corp. Crossland Strategic Metals Ltd.

Crown Point Energy Inc. Crystal Lake Mining Corp. Crystal Peak Minerals Inc. Cuda Oil and Gas Inc. Currie Rose Resources Inc. Dakota Territory Resource Corp. Del Toro Silver Corp. Desert Gold Ventures Inc. Desert Lion Energy Inc. Desert Mountain Energy Corp. Diamond Fields Resources Inc. Diamond Offshore Drilling Inc. DiamondCorp plc Diatreme Resources Ltd. Discovery Harbour Resources Corp. Dundee Precious Metals Inc. Dynacor Gold Mines Inc. Dynasty Metals Australia Ltd. Eagle Plains Resources Ltd.

East Africa Metals Inc. East Asia Minerals Corp. East West Petroleum Corp. Eco Oro Minerals Corp. El Capitan Precious Metals Inc. Elcora Advanced Materials Corp. Ely Gold Royalties Inc. Energy Resources of Australia Ltd. Engineer Gold Mines Ltd. Eramet Erdene Resource Development Corp. Euro Sun Mining Inc. European Electric Metals Inc. European Metals Holdings Ltd. Fire River Gold Corp. First Colombia Gold Corp. First Energy Metals Ltd.

First Idaho Resources Inc. First Majestic Silver Corp. First Mexican Gold Corp. First Mining Gold Corp. First Quantum Minerals Ltd. Five Star Diamonds Ltd. Fortescue Metals Group Ltd.

Fortuna Silver Mines Inc. Forum Energy Metals Corp. Fremont Petroleum Corporation Ltd. Fresnillo Plc Frontera Energy Corp. Full Metal Minerals Corp. Gem International Resources Inc. Genel Energy plc General Moly Inc. Gibb River Diamonds Ltd. Glacier Lake Resources Inc.

Glen Eagle Resources Inc. Glencore plc Global Atomic Corp. Global Energy Metals Corp. Global Li-Ion Graphite Corp. Go Cobalt Mining Corp. Gold Reach Resources Ltd. Gold Road Resources Ltd. Gold Rush Cariboo Corp. Gold Standard Ventures Corp. Golden Arrow Resources Corp. Golden Dawn Minerals Inc. Golden Goliath Resources Ltd. Golden Harp Resources Inc. Golden Hope Mines Ltd. Golden Mile Resources Ltd. Golden Predator Mining Corp. Golden Queen Mining Co. Golden Reign Resources Ltd.

Golden Ridge Resources Ltd. Golden Rim Resources Ltd. Golden Share Resources Corp. Golden Star Resources Ltd. Golden Sun Mining Corp. Golden Tag Resources Ltd. Golden Valley Mines Ltd. Goldplat Plc Goldplay Exploration Ltd. Gran Colombia Gold Corp. Gran Tierra Energy Inc. Granada Gold Mine Inc. Grande Portage Resources Ltd. Granite Creek Gold Ltd. Graphite One Resources Inc. Gray Rock Resources Ltd. Great Atlantic Resources Corp. Great Basin Gold Ltd. Great Bear Resources Ltd.

Great Boulder Resources Ltd. Great Panther Silver Ltd. Great Quest Fertilizer Ltd. Great Thunder Gold Corp. Great Western Exploration Ltd. Group Eleven Resources Corp. Group Ten Metals Inc. Happy Creek Minerals Ltd. Harmony Gold Mining Co.

Hastings Technology Metals Ltd. Hi Ho Silver Resources Ltd. High Grade Metals Ltd. Highland Copper Company Inc. Highland Gold Mining Ltd. Hochschild Mining plc Holloman Energy Corp.

Honey Badger Exploration Inc. Houston American Energy Corp. Idaho North Resources Corp. Impala Platinum Holdings Ltd. Imperial Mining Group Ltd. Inca One Gold Corp.

Infinity Energy Resources Inc. Infinity Lithium Corporation Ltd. Intercontinental Gold and Metals Ltd. International Battery Metals Ltd. International Montoro Resources Inc. International Samuel Exploration Corp. International Tower Hill Mines Ltd. Itafos Itasca Capital Ltd.

Jiangxi Copper Company Ltd. Joshua Gold Resources Inc. Jubilee Gold Exploration Ltd. KalNorth Gold Mines Ltd. Kazakhmys Plc Kazax Minerals Inc. Keaton Energy Holdings Ltd.

Kenadyr Mining Holdings Corp. Kenmare Resources plc Kermode Resources Ltd. King Island Scheelite Ltd. King River Resources Ltd. Kirkland Lake Gold Ltd. Kirkland Precious Metals Corp. Labrador Iron Mines Holdings Ltd. Labrador Iron Ore Royalty Corp. Latin American Minerals Inc. Laurion Mineral Exploration Inc. Le Mare Gold Corp. Leading Edge Materials Corp. Legacy Iron Ore Ltd. Leigh Creek Energy Ltd. Liberty One Lithium Corp. LiCo Energy Metals Inc. Lingbao Gold Company Ltd. Lion One Metals Ltd.

Lions Bay Mining Corp. Liquefied Natural Gas Ltd. Lithium Energi Exploration Inc. Lithium Energy Products Inc. Lithium Power International Ltd. Long Canyon Gold Resources Corp.

Long Run Exploration Ltd. Lonmin Plc Lorraine Copper Corp. Los Andes Copper Ltd. Lucapa Diamond Company Ltd. MacDonald Mines Exploration Ltd. Magna Terra Minerals Inc. Magnum Mining and Exploration Ltd. Magnus International Resources Inc. Major Drilling Group International Inc. Manganese X Energy Corp. Maple Gold Mines Ltd. Margaret Lake Diamonds Inc. Margaux Red Capital Inc. Meadow Bay Gold Corp. This table orders the amount of petroleum consumed in in thousand barrels bbl per day and in thousand cubic metres m 3 per day: US Energy Information Administration.

In petroleum industry parlance, production refers to the quantity of crude extracted from reserves, not the literal creation of the product. It is the leading source of U. CIA World Factbook [ not in citation given ]. Because petroleum is a naturally occurring substance, its presence in the environment need not be the result of human causes such as accidents and routine activities seismic exploration, drilling , extraction, refining and combustion.

Phenomena such as seeps [83] and tar pits are examples of areas that petroleum affects without man's involvement. Regardless of source, petroleum's effects when released into the environment are similar.

Ocean acidification is the increase in the acidity of the Earth's oceans caused by the uptake of carbon dioxide CO 2 from the atmosphere. This increase in acidity inhibits all marine life — having a greater impact on smaller organisms as well as shelled organisms see scallops.

When burned, petroleum releases carbon dioxide, a greenhouse gas. Along with the burning of coal, petroleum combustion may be the largest contributor to the increase in atmospheric CO 2.

About 13 percent of the world's undiscovered oil resides in the Arctic. Oil extraction is simply the removal of oil from the reservoir oil pool. Oil is often recovered as a water-in-oil emulsion, and specialty chemicals called demulsifiers are used to separate the oil from water. Oil extraction is costly and sometimes environmentally damaging. Offshore exploration and extraction of oil disturbs the surrounding marine environment.

The quantity of oil spilled during accidents has ranged from a few hundred tons to several hundred thousand tons e. Smaller spills have already proven to have a great impact on ecosystems, such as the Exxon Valdez oil spill. Oil spills at sea are generally much more damaging than those on land, since they can spread for hundreds of nautical miles in a thin oil slick which can cover beaches with a thin coating of oil. This can kill sea birds, mammals, shellfish and other organisms it coats.

Oil spills on land are more readily containable if a makeshift earth dam can be rapidly bulldozed around the spill site before most of the oil escapes, and land animals can avoid the oil more easily. Control of oil spills is difficult, requires ad hoc methods, and often a large amount of manpower.

Though crude oil is predominantly composed of various hydrocarbons, certain nitrogen heterocylic compounds, such as pyridine , picoline , and quinoline are reported as contaminants associated with crude oil, as well as facilities processing oil shale or coal, and have also been found at legacy wood treatment sites.

These compounds have a very high water solubility, and thus tend to dissolve and move with water. Certain naturally occurring bacteria, such as Micrococcus , Arthrobacter , and Rhodococcus have been shown to degrade these contaminants. A tarball is a blob of crude oil not to be confused with tar , which is a man-made product derived from pine trees or refined from petroleum which has been weathered after floating in the ocean. Tarballs are an aquatic pollutant in most environments, although they can occur naturally, for example in the Santa Barbara Channel of California [94] [95] or in the Gulf of Mexico off Texas.

Their composition can be used to identify their sources of origin, [97] [98] and tarballs themselves may be dispersed over long distances by deep sea currents.

Robbins has argued that the advent of petroleum-refined kerosene saved some species of great whales from extinction by providing an inexpensive substitute for whale oil , thus eliminating the economic imperative for open-boat whaling. In the United States in about 70 percent of petroleum was used for transportation e. Biological feedstocks do exist for industrial uses such as Bioplastic production.

In oil producing countries with little refinery capacity, oil is sometimes burned to produce electricity. Renewable energy technologies such as solar power , wind power , micro hydro , biomass and biofuels are used, but the primary alternatives remain large-scale hydroelectricity , nuclear and coal-fired generation.

Consumption in the twentieth and twenty-first centuries has been abundantly pushed by automobile sector growth. The — oil glut even fueled the sales of low fuel economy vehicles in OECD countries. The economic crisis seems to have had some impact on the sales of such vehicles; still, in oil consumption showed a small increase. In Goldman Sachs predicted lower demand for oil due to emerging economies concerns, especially China.

In the long term, uncertainties linger; the OPEC believes that the OECD countries will push low consumption policies at some point in the future; when that happens, it will definitely curb oil sales, and both OPEC and the Energy Information Administration EIA kept lowering their consumption estimates during the past five years.

Recent upward revisions are primarily a result of US tight oil. Production will also face an increasingly complex situation; while OPEC countries still have large reserves at low production prices, newly found reservoirs often lead to higher prices; offshore giants such as Tupi , Guara and Tiber demand high investments and ever-increasing technological abilities.

Subsalt reservoirs such as Tupi were unknown in the twentieth century, mainly because the industry was unable to probe them. DaQing , China [] will continue to play a major role in increasing the world's recoverable oil.

The expected availability of petroleum resources has always been around 35 years or even less since the start of the modern exploration. The oil constant , an insider pun in the German industry, refers to that effect. Peak oil is a term applied to the projection that future petroleum production whether for individual oil wells, entire oil fields, whole countries, or worldwide production will eventually peak and then decline at a similar rate to the rate of increase before the peak as these reserves are exhausted.

The peak of oil discoveries was in , and oil production per year has surpassed oil discoveries every year since Hubbert applied his theory to accurately predict the peak of U. This prediction was based on data available at the time of his publication in In the same paper, Hubbert predicts world peak oil in "half a century" after his publication, which would be Some of these predictions date from before the recession of the early s, and the consequent reduction in global consumption, the effect of which was to delay the date of any peak by several years.

Just as the U. Unconventional oil is petroleum produced or extracted using techniques other than the conventional methods. In particular, the combination of horizontal drilling and hydraulic fracturing has resulted in a significant increase in production from previously uneconomic plays.

The large increase in tight oil production is one of the reasons behind the price drop in late Conventional vertical wells would be unable to economically retrieve these hydrocarbons.

Horizontal drilling, extending horizontally through the strata, permits the well to access a much greater volume of the strata. Hydraulic fracturing creates greater permeability and increases hydrocarbon flow to the wellbore. From Wikipedia, the free encyclopedia.

For the film, see Crude Oil film. For the fuel, see Petrol. For other uses, see Petroleum disambiguation. Pumpjack pumping an oil well near Lubbock, Texas. An oil refinery in Mina Al Ahmadi , Kuwait. History of the petroleum industry. This section needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. October Learn how and when to remove this template message.

Unconventional oil , Oil sands , and Oil shale reserves. This article needs to be updated. Please update this article to reflect recent events or newly available information. Global fossil carbon emissions, an indicator of consumption, from Oil consumption by percentage of total per region from to For oil production by country, see List of countries by oil production.

For oil reserves by country, see List of countries by proven oil reserves. Top oil-producing countries million barrels per day. World map with countries by oil production information from — Fossil fuel exporters and OPEC. Oil exports by country barrels per day, Oil imports by country barrels per day, Oil imports to US, Environmental impact of the petroleum industry. Oil spill and List of oil spills.

Oil slick from the Montara oil spill in the Timor Sea, September, Volunteers cleaning up the aftermath of the Prestige oil spill. Alternative fuel vehicle , Hydrogen economy , and Green vehicle. Alternative energy , Nuclear power , and Renewable energy. Barrel of oil equivalent Filling station Gas oil ratio List of oil exploration and production companies List of oil fields Manure-derived synthetic crude oil Oil burden Petroleum geology Thermal depolymerization Total petroleum hydrocarbon Waste oil.

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Beyond , the Annual Energy Outlook AEO projects further production growth, although its pace and duration remains highly uncertain.

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