World War I Petroleum Essay

Valuation is the estimation of an asset’s value, whether real or financial, based on variables perceived to be related to future investment returns, on comparison with similar assets, or, when relevant, on estimates of immediate liquidation proceeds (Pinto, Henry, Robinson, Stowe; 2010).

When people hear the word oil it is commonly interpreted as gas, but the oil that we drill is not what goes into our cars. The oil that is retrieved from the ground is called crude oil, Oil in its raw natural form and when it becomes refined it is used in plastics, rubber, and gasoline. ”Gasoline is a volatile, flammable liquid obtained from the refinement of petroleum, or crude oil. It was originally discarded as a byproduct of kerosene production.” The first oil well was found and harvested in Titusville, Pennsylvania by a man named Edwin L. Drake, in 1859. The well was about 70 feet deep (How gas). It pumped between 20-40 barrels a day

It is no secret that oil has revolutionized the way we live in our world. Its importance was birthed during the nineteenth century with the invention of the incandescent lamp, using oil as a source of lighting. At the same time, however, the internal combustion engine revolutionized transportation in peace and war. Henry Ford and other early automobile manufacturers became the new heroes, and Winston Churchill ordered the British navy to turn from coal to oil just in time for the outbreak of World War I. The navy played only a secondary part in the war, but another of Churchill’s favorite, the tank, was a key element in breaking through the trenches of uninhabited land. There were far more horses than trucks in combat when the fighting began

Petroleum is the oil found underneath the Earth’s surfaces also known as crude oil. It is considered to be highly toxic as it is composed of many organic chemicals. In 1989 the Exxon Valdez tanker collided with Bligh Reef, which is off the coast of Bligh Island in Prince William Sound, Alaska. The collision resulted in over 11 million gallons of oil to spill into the ocean. It has been 27 years since the Exxon Valdez oil spill and it is important to understand what happened to cause the spill, the impact the oil spill had, the process used to clean up, and changes made to prevent future spill.

Gasoline is a flammable liquid that is made from the refinement of petroleum or better known as crude oil. It helps fuel cars, farm machinery, planes and other type of engines. What is petroleum? It’s a fossil fuel that supplies energy around the world than any other source out there. Petroleum, including gasoline is primarily a mixture between hydrocarbons and small amounts of other substances. In 1994, its known that the United States used up to 7,587,00 barrels of oil a day which concludes that America is the worlds largest consumer in oil. The majority of today’s crude oil is located along side the Persian Gulf Basin with some amounts in Alaska and in

There are two major barriers that are leading to an inevitable failure in the Royal Biscuit and Edeling merger. The first, and most important, is the lack of cultural competency between Brighton and Wallach, the two merger officiators. Both parties are displaying characteristics of ethnocentrism and misperception. Second, is the lack of corporate competency resulting from dissimilar corporate cultures, histories and business strategies. If the merger of the two companies is to be successful then corporate synergy must be realized; otherwise the union is doomed to failure.

Leading i'll begin with a selection from a ballad enumerating a synthetic gas assault on the planet war

The main usages of petroleum are bunker fuel, detergent, jet fuel, diesel fuel, heating oil, paint, photographic film, food additives, make up, medicine, and candles etc. Actually, the petroleum usages are very broad. If the country is experiencing oil shortage, everything must be very expensive. You may eat some food with food additives, which is a material from petroleum, in your stomach, even though you do not drive or travel around the world by airplanes. Moreover, petroleum has a lot of advantages to generate electricity. It is easy to transport and store because it is a liquid. Compared with natural gas, natural gas is hard to extract and store because it is gas. Natural gas requires higher technology to extract and store it. Moreover, the density of petroleum is higher than natural gas and coal. We can save more room to store petroleum. For government’s aspect, they may want to use some energy, which are stable and easy to store. Although the renewable energy is unlimited and eco-friendly, the costs of built and operate it are expensive. So, the fossil fuels are the best energy for us to use now. Peak oil crises affect our life, and we cannot find any energy to replace it.

Oil was found at Masjed Soleyman in southeastern Iran on May 26, 1908, and three years later was piped down to a newly built refinery at Abadan on the Iranian side of the Shatt-Al-Arab, not many miles below Basra.1(Stephen, 1991) Its global importance eas immediately recognized, not just by the Admiralty in London, looking for new sources of supply for its oil-fired battleships, but in other European capitals as well leading to a brief British-German-Turkish skirmish for control of the pipeline at the start of World War 1.2(Wilfred, 2007) Oil was next found in the Persian Gulf, beginning with Bahrain in 1931; there were subsequent discoveries in Kuwait, Qatar, Saudi Arabia, the Trucial states, and Oman. By 1960 the smaller Gulf states were producing 15 percent of the world 's oil, with another 10 percent or so coming from Iraq and Iran.3(Longrigg, Oil in the Middle East) By 1970 this had risen to 30 percent.4(BP Statistical Review, 2006) The story of the discovery, exploitation, and importance of Middle Eastern oil has been told in many different ways, and from many different points of view. For some it has been a source of Western triumphalism as in the case of the Aramco story , in which brave Texas "pioneers" conquer the world 's last oil frontier.5(Wallace, 1971) For others, like the Arab novelist Abad Al-Rahman Munif, it is a tale of woe, as the lives of nomadic people are disrupted by the appearance of prisons and exploitative local officials.6(Cities of Salt, 1989)

The Middle East has served as the center of art, history, culture, political innovations, and a major geopolitical interest for the Western world. During the 19th century, the Ottoman Empire became of increasing significance to the political economy of European capitalism. European powers were able to structure the terms of their investments in ways that led to the economic and political subordination of the Ottoman Empire and eventually to its destruction. The territory was considered to be strategically valuable to commercial shipping routes and the Europeans projected political and military power in this region. The discovery of oil in the region, particularly Iraq and neighboring Iran contributed to a European and later American involvement

The petroleum or crude oil must be changed or refined into other products before it can be used.

World oil demand is increasing as emerging economies need more energy to increase their living standards. Estimates, shown below, are that by 2030, China and India as emerging markets will import over 70% to 90% of their fossil fuel needs (1) . Coupled to a continued high and growing demand for oil, makes this a robust market for the next 30 years.

The revolting liquid that originates from petroleum, popularly used as a fuel has become such a large part in how the modern world functions. Without it, evolution within the human race and technology would not have come as far as it is. Oil was not always used as frequently and at such a big mass as it is now. The 1800’s were when the boom of oil sands was discovered in the United States, and led to an even bigger industrial revolution throughout the country and worldwide. This led to more people working with oil and in the oil industry, and led to where we are today, with the amount of oil we use daily. It all occurred because of a man named Edwin Drake who revolutionized the way we use oil and how we access it. He also created a new

The topic for today will be about oil and how it is used, found a lot of, and everyday use. We will be talk about top 10 place with the most oil.How oil came to be and how long did it take to make. Last but not least we will learn how we use it in everyday things.

A petroleum refinery is any facility engaged in producing gasoline, gasoline blending stocks, naphtha, kerosene, distillate fuel oils, residual fuel oils, lubricants, or asphalt (bitumen) through distillation of petroleum or through redistillation, cracking, or reforming of unfinished petroleum derivatives.