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Changing Patterns Of Oil Production And Consumption

Changing Patterns Of Oil Production And Consumption. IB SL. Production. In 2003, global oil production was at 70m barrels per day. 8 producers accounted for over 50% (USA, Saudi Arabia, Russia, Iran, China, Venezuela, Mexico, and Norway).

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Changing Patterns Of Oil Production And Consumption

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  1. Changing Patterns Of Oil Production And Consumption IB SL

  2. Production • In 2003, global oil production was at 70m barrels per day. • 8 producers accounted for over 50% (USA, Saudi Arabia, Russia, Iran, China, Venezuela, Mexico, and Norway). • Oil production is marginal or non-existent in many countries such as Africa.

  3. Consumption • 7 countries accounted for over 50% of global demand (USA, Japan, China, Germany, Russia, Italy, and France). • Oil demand is roughly a function of population and level of development. • Since 1965, oil consumption has nearly tripled. • In 2006, demand was almost 84m barrels per day (70 in 2003). • A significant share of new oil demand is assumed by Pacific Asian Nations going through rapid industrialisation such as China (2nd after USA).

  4. Oil Refining • Over 80% of oil refining now takes place in Europe, North America, and Japan. • The separation between production and refining causes problems for example oil was considered a cheap fuel and many countries became dependant on it. • Due to the increase of oil prices, a lot of countries have had to reassess their energy policy.

  5. Oil Reserves • Found in various geological structures. • Reserves could last for up to 40 years at present rates of production and consumption. • 66% of the world’s reserves of oil are in the Middle East, followed by Latin America with 12.5%. The rest of the worlds reserves of oil are in the rest of the world.

  6. Middle East Oil • The importance of the Middle East as a supplier of oil is critical. • The Organisation of Petroleum Exporting Countries (OPEC) controls the price of crude oil and this has increased its economic and political power. • This provides an incentive for other countries to increase energy conservation or develop alternative forms of energy.

  7. Countries Need To... • Maintain good political ties with Middle Eastern countries and strive for political stability in the region. • Involve the Middle East in Economic cooperation. • Reassess coal and nuclear power as energy options.

  8. Environmental Concerns • Oil slicks. • Damage to coastlines, fish stocks, and communities dependent on the sea. • Water pollution caused by oil tankers. • War damage (a cause for destruction).

  9. Activity • Using A2 Geography P190-192 answer the following questions... • What are the reasons for why oil is a vital world resource? • Explain the global importance of Saudi Arabia and the USA in connection with oil as a resource. • What are the environmental effects of the exploitation, transport, and use of oil?

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