Introduction
“THE WEALTH OF NATIONS” . . . AND OURS
Oil and natural gas are part of what are known as fossil fuels. Scientists
believe they were formed by organisms—plants and animals—that died,
decayed, and were transformed into solid rock thousands, perhaps millions,
of years ago as a result of high level heating. That natural process
took place deep under the earth and resulted in what is now called petroleum,
a finite mixture of hydrocarbon molecules that is not easily replaceable.
Oil and natural gas have high net energy and, beyond the fact
that one is a fluid and the other is vaporous at surface condition, their
only other difference relates to the extent of the heating the rocks endured
and their molecular weight.
Deposits of oil and gas are found in certain parts of the world where
the formation process occurred, and most of these places have extreme
weather conditions. Petroleum is recovered by drilling deep into the
earth, between 7,500 and 15,000 feet down, then processing and transporting
it to storage terminals and eventually to the consumer (though it
first goes to refineries that use it to produce gasoline, diesel, kerosene, and
other products). The first processing typically is done at the well site,
where sophisticated technology separates oil from water and gas. Transportation
is either by underground or above ground pipeline systems, sea
tankers, and road trucks. Natural gas is typically liquefied, or transformed
into liquid form, before being transported in specially designed tankers.
Fossil fuels are the dominant energy source fueling the modern
economy, and at least in the short term they will continue to shape our
society in the new millennium. As we move forward amid concerns about
availability and cost of oil, we must ask some fundamental questions that
will define our future—questions that will touch on economics, politics,
population, philosophy, and even military issues.
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