Chapter 24. Chapter 24: Petroleum
Where are our current petroleum reserves found...?
Guiding Question 24.2
Where are our current petroleum reserves found, and what is meant by "peak oil"?
Why You Should Care
Though the original sediments were marine, millions of years of geologic activity has moved these layers up and down, inland, and far out to sea. Like any geologic resource, some areas have more petroleum deposits than others. The areas with the largest petroleum deposits (the Middle East, Canada, and Asia) are the greatest petroleum exporters but not the greatest petroleum consumers.
Today, demand for petroleum is growing at 2% per year, and the amount of petroleum extracted has been slowing as new sources of petroleum have become harder and harder to find. The time when our production peaks and then begins decreasing is called “peak oil,” and some have argued that we have already reached that point in time.
Question Test Your Vocabulary
Choose the correct term for each of the following definitions:
| Term | Definition |
|---|---|
| X6qHj2AJFJTXPBYH4JYFMS9ZEINHe8AGBGfTr2wAPhEO9qSUobQ4UN2V8v3D5eMptfxQugXjrRrYxNlGAbt0jNLvzXY= | The form of petroleum that is extracted from underground deposits. It is processed into many different products and types of fuel. |
| nFu6RwsW4jZv8UXowrJEwOcnefoWofJraVY8NfnMNsL30pU+/lAWC1fWhlm/wu6zVwiBKPdJcjD70XAr11y9LJBvn8Q= | The moment in time when oil will reach its highest production levels and then steadily and terminally decline. |
| zXEFCH/6IhfjbL28yQJoWyVmXo2jjaC14sDmWN/gq4Au+k9zriQAE+Xie01VgkE+lzVo3r8CGXwn0DiwGL6ILpCM6Tc= | A measure of the amount of a fuel that is economically feasible to extract from a known deposit using current technology. |
| /OGbG04VX3VAv8KGcK1FMxNoWTKIQ9ELyPIjgl7BfQXY7tcwXWNq11tIhnox6S1wMigSgpsLYsEQKk18M2uZyKKh9NE= | Liquid deposits that contain freely flowing oil or oil that can be pumped out. |
Use the Infographic above to answer Questions 1–4.
Question 24.1
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uIDun5ikB2N9DEF9TcQmnpIy/rkVqgNKMoKQShjmWmOf1DKqeyz3YfplIHtKroq2VpGSmZ90RTJsi5gfwo7+V8vk68w9l4DoIqsyZHwwAzGGKBvKUYKzgRe2DFsKKn/XgVG+3g==Question 24.3
/Qxnx70W+T9BKbJEMG/4iBu3ZU5DLpx7x4Nb8sKS1SvNANz1q7OursRyeZYOIk4Owbo5m2UU6NaoGNjodZCbD8Yr7HmmX74qHwmsdewg6yHpohWogBLp/MiXNkbRoZaSxTOW1RYzFR1MKfYxaY9YtlGREbN7wdk+q8XeT31GbXn+2TDnK1DII+XSKcTJKdOnYW5T51KxXS8=Question 24.4
9+DcxHfQ81MQOJ20CUOu91Jzsx5jqTMuUmWbjtfC7JmaEv19faguxZZhFOW/T5kbLmthmqoytqZI7bUa/YnAPGiWnjCcvZC2rm+rmgEMrpfoZqEhgaa26noDFszgnzS5p7fbQFO/s2cMAGtF12mta/mgWrZD4ncvQEqUPysomdzYdow/Z4Yzs0uxuoo+tvXXBa8Wxe4AS5nzmB9D4Saik/8S0MLeItJ1RlySrGINQJphpy9ZrdKk3rOSjAUkETaYa1zdXDS2Qt8=
Use the Infographic above to answer Questions 5 and 6.