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Fossil Fuel: Oil
National Renewable Energy Laboratory
Each day, the United States produces about 9 million barrels of oil (7.2 million barrels of crude oil plus 1.7 million barrels of natural gas liquids), while importing almost 8 million barrels. Much of the easiest oil to produce has already been extracted from existing fields, and improved technologies will be required to recover and refine the generally lower quality remaining resource.
RESOURCE
Oil is a liquid fossil fuel produced in 31 states and the federal outer continental shelf from onshore (82%) and offshore (18%) wells. In 1992, the United States produced 8.9 million barrels of oil per day (BOPD), including natural gas liquids; 1.0 million BOPD were exported, mostly to Mexico, Japan, and the Virgin Islands.
In 1992, the United States imported 7.9 million BOPD; the largest suppliers were Saudi Arabia, Venezuela, Canada, Mexico, and Nigeria. 1992 net imports of 6.9 million BOPD accounted for 41% of petroleum products supplied and about 60% of the U.S. trade deficit.
Known domestic in-the-ground oil resources are 350 billion barrels, a portion of which can be recovered with advanced technologies. The cumulative total of past domestic oil production to date is 160 billion barrels.
At year-end 1992, proven domestic oil reserves were 25 billion barrels. There are an estimated 49 billion barrels of undiscovered recoverable oil in the United States.
ADVANTAGES
The entire automotive and petroleum industries are built around gasoline and there is extensive infrastructure already in place. Gasoline, diesel fuel, and other petroleum products are convenient, concentrated energy sources for transportation. Extensive domestic supplies remain to be recovered or developed with proper technology and higher prices.
CURRENT USE AND COST
In 1992, the U.S. share of world petroleum consumption was 26%. In 1992, oil provided 26% (17.5 quadrillion Btu) of domestic energy production and 41% of energy consumption (33.5 quadrillion Btu). The principal uses of oil are in the transportation (64% in 1992), and industrial sectors (26%).
The principal products made from oil are gasoline (42%), distillate fuel oil (17%--for space heating, diesel engines, electrical generation), and jet fuel (9%). The 1992 average crude-oil refiner cost was $18.43 per barrel.
PROJECTED USE AND COST
Domestic crude oil production is projected to decrease from 7.4 million BOPD in 1990 to 4.8 million BOPD in 2006 with relatively low prices, then to 5.1 million BOPD in 2010 with rising prices and improved technology. Consumption is projected to increase from 17.0 million BOPD in 1990 to 21.3 million BOPD in 2010.
Net imports are projected to increase from 6.7 million BOPD in 1990 to 12.8 million BOPD in 2010--increasing from 39% to 60% of domestic consumption. World oil prices are projected to increase from $18.20 in 1992 to $28.16 in 2010 (1992 $).
ISSUES
Increasing imports of oil create trade deficit problems and foreign-supply dependency.
Use of petroleum products is the largest contributor--by fuel source--of greenhouse gases (44% of man-made carbon emissions).
OPPORTUNITIES AND CHALLENGES
Because much of the easiest oil to produce has already been extracted from existing fields, oil remaining in those fields--some 60% to 80% of known U.S. resources--could be abandoned by 2010 unless new technology becomes available.
Both domestic and imported oil is becoming heavier and higher in sulfur, requiring improved refining technologies.
NEW TECHNOLOGIES
Computerized three-dimensional seismic surveying and reservoir modeling can identify significant additional resources.
Improved "secondary" water flooding plus "tertiary" recovery techniques increase yield from existing reservoirs.
As a promising end use, a forthcoming Mercedes gets 75 miles per gallon (mpg) of diesel while meeting California low-emission vehicle standards; a currently available Audi gets more than 60 mpg of gasoline.
Advanced processing technologies reduce pollution from processing.
REFERENCES
Annual Energy Review 1992, Energy Information Agency, U.S. Department of Energy (DOE), 1992.
Annual Energy Outlook 1994, with Projections to 2010, Energy Information Agency, DOE, 1994.
Oil Technology--Program Profile, Office of Fossil Energy, DOE, 1994.
Oil Recovery--Program Profile, Office of Fossil Energy, DOE, 1994.
Automotive News, February 7, 1993.
Energy Information Sheets, Energy Information Agency, DOE, 1993.
Footnotes
This document is Contract DE-AC36-83CH10093, a series of the National Renewable Energy Laboratory, sponsored by the U.S. Department of Energy.
2. The National Renewable Energy Laboratory (NREL) is managed and operated by Midwest Research Institute for the United States Department of Energy. NREL-authored documents are sponsored by the U.S. Department of Energy under Contract DE-AC36-83CH10093.
Reference herein to any specific commercial products, process, or service by trade name, trademark, manufacturer, or otherwise, does not necessarily constitute or imply its endorsement, recommendation, or favoring by the United States Government or Midwest Research Institute. The views and opinions of authors expressed in the available or referenced documents do not necessarily state or reflect those of the United States Government or Midwest Research Institute.
Florida Cooperative Extension Service / Institute of Food and Agricultural Sciences /
University of Florida / Christine Taylor Waddill, Dean
Disclaimer
The use of trade names in this publication is solely for the purpose of providing specific
information. UF/IFAS does not guarantee or warranty the products named, and references to
them in this publication does not signify our approval to the exclusion of other products of
suitable composition.
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