gas oil
Oil and Gas Overview
Executive Summary About Oil Gas By Vladimir Gonzales
The critical political situation in the Arab countries is one of the things that influenced oil prices.
OPEC (the Organization of the Petroleum Exporting Countries) is an organization formed in order to regulate the supply and the price of oil. The goal of this organization is to maintain the oil price at about $70 per barrel.
Oil futures are an agreement to sell or buy oil at an established price and date in the future. Crude oil prices affect the prices on gasoline. 55 per cent of the gasoline price comes from oil. Oil prices are determined by commodity traders who bid on oil futures contracts.
They bid according to many factors: current supply, the production quota set by OPEC, oil reserves, including what is stored at the Strategic Petroleum reserves, and oil demand.
Natural gas prices are also going up. The prices are influenced by: weather (during winter the demand for natural gas increases, as it is used for heating), fuels competition (when oil price rises, consumers switch to natural gas which is cheaper), natural disasters (hurricanes or earthquakes)and economic impact.
The Biggest Oil Opportunity in the World – And How You Can Profit From It
Executive Summary About Oil Gas By Leon Altman
Where is the second biggest deposit of oil reserves in the world?
In the oil sands region of Alberta, Canada. Oil sands are a thick, viscid mixture of bitumen, sand, clay, and water. The big difference between oil sands and oil from the desert sands of the middle east is difficulty of extraction. The oil sands process essentially entails extracting bitumen from the sand, and upgrading it to light crude oils. In addition to improvements in technology, higher oil prices are fueling expansion in the oil sands, and a lot of people want in.
The company is developing a northern Alberta project estimated to pump 25,000 barrels of crude from the oil sands by 2008. And Canadian oil pipeline giant Enbridge has announced a preliminary deal with PetroChina to anchor a $2-billion oil pipeline to the West Coast.
So how can you benefit from the increased exploration, production and sales of crude oil from the oil Sands of Alberta?
Check out my other article about physics.
