The key concept for this section. The concept of crude oil (petroleum), peak production for an oil well or field, refining, petrochemicals, proven oil reserves, shale oil, oil sands or tar sands, and bitumen. The process of extraction of crude oil from the earth. The importance of petrochemicals. The three countries with the world’s largest proven crude oil reserves. The three countries that are the world’s largest producers and consumers of crude oil. The production and consumption of oil in the United States. The controversy over future oil production. The important advantages and disadvantages of using crude oil as an energy resource. The production of shale oil. The extraction of bitumen and its conversion to heavy oil. The major advantages and disadvantages of using shale oil and heavy oils produced from oil sands as energy resources.
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