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TRADITIONAL ENERGY SOURCES

TRADITIONALENERGY SOURCES

1.How much oil (petroleum) does the US import on a yearly basis?

TheUnited States population is a chief consumer of oil. But, the U.Salone cannot produce sufficient oil to meet the needs of itspopulation. In the year 2008, the U.S produced almost 2 billionbarrels of crude oil for the year. However, U.S still has to importmore than double of what it produces in order to meet consumer needsand be able to fill its business. Again in 2008, the U.S importedabout 9.8 million barrels crude oil every day. This amounts to anenormous 3.5 billion barrels of oil every year.

Reference

U.SEnergy Information Administration. Retrieved http://www.eia.gov/(Accessed April 12, 2014)

2.What percentage of the cost of a gallon of gasoline is the result ofthe cost of crude oil? In other words, of the cost of gasoline howmuch is due to crude oil—the rest is presumably taxes, profit, etc.

Theprices for crude oil make up to 71% of the gasoline price. The otherpercentage of what is paid at the pump is as a result of the costs ofrefinery and distribution, federal taxes, and corporate profits.Normally, these costs are steady hence the day-to-day gasoline pricechanges precisely indicate fluctuations in oil prices.

Reference

U.SEnergy Information Administration. Retrieved http://www.eia.gov/(Accessed April 12, 2014)

3.What country provides the single largest volume of the US`s oilimports in 2007?

Inthe year 2007, the United States imported more of its oil from Canadaalone amounting to 2,337,000 every day. This was more than (2,305,000barrels per day) it imported from Persian Gulf countries. Besides,domestic production contributes to 1/3 of all the oil that isconsumed in the United States.

Reference

U.S.Energy Information Administration, “U.S. Net Imports by Country”http://tonto.eia.doe.gov/dnav/pet/pet_move_neti_a_ep00_imn_mbblpd_a.htm.(Accessed April 25, 2014.).

4.What/where is the largest oil field in the US?

PrudhoeBay is the largest oil field in both the U.S and North America. It isa very large oil field located on the Northern Slope of Alaska. PrudeBay covers 213,543 acres and originally, it contained an estimated 25billion barrels of oil. The amount of oil recoverable from this fieldis more than twice the amount produced by East Texas oil field, whichis the next largest oil field in the U.S. Prudhoe, is managed by BPand its partners are Conophillips Alaska and ExxonMobil.

Reference

Sweet,John M. (2008). Discoveryat Prudhoe Bay.Blaine, Washington: Hancock House.

5.What/where is the largest oil field in the World?

Thelargest oil field in the world by far is called Ghawar. It is locatedin Al-Ahsa Governorate, Saudi Arabia. It measures 280 by 30kilometers. Ghawar oil field is totally owned and managed by SaudiAramco. Ghawar field was discovered in the year 1948 and it was seton stream in the year 1951.

Reference

AAPG.Retrieved http://www.aapg.org/publications/news/explorer (AccessedApril 12, 2014)

6.What about natural gas? Where does most of the natural gas consumedin the US come from?

TheU.S produces most of the natural gas used in the United States whichis around 88%. The rest of the natural gas (10.5 %) is providedCanada. 1.5 % of imported natural gas comes in form of liquefiednatural gas. Natural gas production from the lower-48 statescontinues to be the largest part of the United States supply ofnatural gas. The huge amounts of natural gas available in the NorthSlope part of Alaska, is insignificant as compared to the totalnatural gas resources in the state. However, these natural gases willremain abandoned there until natural gas pipeline is put up inAlaska.

Reference

AmericanGas Association. Retrievedhttp://www.aga.org/kc/aboutnaturalgas/Pages/default.aspx (AccessedApril 12, 2014)

7.Where does most of this natural gas in the US come from (whatfields)?

Texasis the leading producer of natural gas in the United States, andholds about 23% of the natural gas reserves of the nation. Production ofnatural gas in the U.S is mostly concentrated in Texas and the Gulfof Mexico. According to some experts, the largest natural gas fieldin the U.S is Barnett Shale, in Texas. Texas has continued tomaintain a stable level of production of natural gas throughdiscovery of other major gas fields like East field in North-CentralTexas, Newark, the Carthage field in East Texas, and Panhandle.

Reference

StateImpact.A Look At Natural Gas Production In Texas. Retrievedhttp://stateimpact.npr.org/texas/tag/natural-gas-production-in-texas/(Accessed April 12, 2014)

8.And then there’s coal: How much does the US have? How much do wecurrently use on a yearly basis?

TheU.S has adequate recoverable coal reserves which can last for atleast the next 250 years. It has reserves that are more than 11/2times greater than its closest competitor, Russia, and more thandouble that of China. The U.S known coal reserves alone make up 27%of coal supply for the whole world. Alaska is projected to have morecoal than the whole lower-48 states. Energy InformationAdministration estimates recoverable reserves for coal Alaska at 2.8billion short tons. On the other hand, geological estimates providedby the U.S Geological survey places the figure at more than 6trillion short tons. The United States electrical power industry usesover 90% of coal mined every year.

References

EnergyInformation Administration, International Energy Statistics,http://www.eia.gov/cfapps/ipdbproject/IEDIndex3.cfm?tid=1&amppid=7&ampaid=6

EnergyInformation Administration,http://www.eia.gov/coal/annual/pdf/table15.pdf

Departmentof the Interior, US Geological Survey,http://pubs.usgs.gov/dds/dds-077/

9.What is coal used for in the U.S. — e.g. what are the major uses ofcoal in the U.S.?

Coalhas various important uses in the U.S. The major significant uses aregeneration of electricity, manufacturing of cement, steel production,and it is also used as a liquid fuel. Different kinds of coal areused for different purposes. For example, thermal or steam coal ismostly used in generation of power, while metallurgical or cokingcoal is mostly used in production of steel.

Reference

WorldCoal Association. Retrievedhttp://www.worldcoal.org/coal/uses-of-coal/ (Accessed April 12, 2014)

10.Did you find anything surprising as you researched the answers tothese Questions? How would you rate your knowledge regarding theseitems prior to this exercise?

Oneof the surprising things I have found is that, coal is used as liquidfuel. I have never imagined that coal can be used in any other formother than in its solid form. Completing this course has enabled meto learn about the use of traditional sources of energy in the UnitedStates. Prior to this exercise, my knowledge regarding the itemsdiscussed was poor. I did not know by fact on several of theseissues.

11.Finally, imagine you are Energy Czar for the US. You are going toappear on “Face the Nation” to chat about US energy policy. Youknow that short, direct statements will be the order of the day. Withthat in mind outline very briefly THREE energy policies/initiativesyou would invoke.

Thethree energy policies I would like to invoke include:

  1. Imposing high tax value on coal generated energy and natural oil, as they are major contributors of green house gases.

  2. Giving subsidy and government support to companies investing in renewable energy including solar and wind energy, so that they can offer this energy at a relatively lower cost.

  3. Tightening environmental standards to discourage the use of fossil fuel, including coal and oil.