Crude Oil Depletion Rishabh Jain.

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Presentation transcript:

Crude Oil Depletion Rishabh Jain

What is Crude Oil? Comprised of Hydrocarbons, organic compounds and small amounts of metals. Used a a form of petroleum Highest consumption: US, China, Japan, Russia and Germany Highest production: Saudi Arabia, Russia, US, Iran and China

Increasing Demands For Crude Oil

Crude Oil depletion Crude oil depletion is the total amount of crude oil being consumed in reference to the total possession on Earth. Crude oil is one of the extensively used forms of petroleum. As it is an exhaustible element, it would soon/later be over. According to the mathematical equations, the estimated time is of 400-500 years.

Equation of Crude Oil Depletion Poil(t) represents the amount of oil at the year “t” Oil is measured in the unit of barrels 1 US(Oil) barrel = 159 liters t represents the year The domain of “t” starts from year 2005

Crude Oil Production Crude Oil production is the amount of oil being extracted from the land, or from the oil wells/reservoirs of oil. It is accountable for the decline curve of the graph about crude oil. On the contrary to the fact that the resource is going to be depleted fairly quick, a lot of crude oil is produced/mined every day in countries. In the last 9 year, on an average, 2.7 X 1010 barrels/year have produced. On an estimate, 3.22204E+12 liters per year.

Crude Oil Production (Barrels/Year) Growth Rate (%) 2005 26878235000 -0.50% 2006 26742820000 0.82% 2007 26963280000 -0.24% 2008 26899040000 -1.90% 2009 26388405000 2.43% 2010 27029710000 0.11% 2011 27060735000 1.96% 2012 27591445000 0.17% 2013 27639260000 The data has been recorded from US Energy Information Administration - http://www.eia.gov/totalenergy/data/monthly/pdf/sec11_5.pdf

Equation for Production y=784429.48x^2 - 3123705073.27x + 3136519069223.73

Graph of World Oil Production as per Economy with due consideration of Inflation and Cost of production.

Production Conclusion As per projection, oil production would keep increasing. Whereas, as per economic research by economist, production would gradually decrease in coming years. The main reason of this contradiction is the presence of other factors such as cost of economy and inflation rates which would effect the production of oil.

Alternate Resources of energy Natural energies- Wind energy Hydro Energy Solar energy Geothermal energy

Diversity of energy sources in 2013

Wind energy

Equation for Wind Energy y = 1e0.2491x Y (Mega Watt) represents the total wind energy capacity installed in the year “x”

Solar Energy

Equation for Solar Energy y =4E-294e0.3413x

Hydropower Plant

Geothermal energy Year Geothermal energy capacity (Mwe) 2008 2009 2010 2011 2012 2013 2014 2015 11007 12126 13283 14686 16102 17413 19145 20841

Future of our world Exhaustible resources would cease to exist. Humans have to find new ways of producing mass amount of energy. Progress is being made, but all these development are not going to increase at the same rate. New and more innovation is needed for running the country. Efficient and economic goods and products.

Works cited "What Is Crude Oil? A Detailed Explanation on This Essential Fossil Fuel." What Is Crude Oil? A Detailed Explanation on This Essential Fossil Fuel. N.p., n.d. Web. 08 Dec. 2013. <http://oilprice.com/Energy/Crude-Oil/What-Is-Crude-Oil-A-Detailed-Explanation-On-This-Essential-Fossil-Fuel.html>. "World Crude Oil Production." EIA. U.S. Energy Information Administration, Nov. 2013. Web. 8 Dec. 2013. <http://www.eia.gov/totalenergy/data/monthly/pdf/sec11_5.pdf>. "Global Warming Mathematics." Global Warming Mathematics. N.p., n.d. Web. 08 Dec. 2013. <http://www.roperld.com/science/globalwarmingmathematics.htm>. "How to Compare Solar PV Capacity with Other Energy Sources?" Reconhub. N.p., n.d. Web. 08 Dec. 2013. <http://blogg.nhh.no/reconhub/?p=70>. "Characteristics of the Current Fleet." - UVIG Modeling Wiki. N.p., n.d. Web. 08 Dec. 2013. <http://www.uwig.org/index.php?title=Characteristics_of_the_Current_Fleet>. 2004 Worldwide Energy Sources Graph. Digital image. Wikipedia. WikiMedia Commons, n.d. Web. 8 Dec. 2013. <http://en.wikipedia.org/wiki/File:2004_Worldwide_Energy_Sources_graph.png>. "Arthur Smith - Petroleum Depletion -- What Does the Data Indicate?" YouTube. YouTube, 11 Feb. 2013. Web. 08 Dec. 2013. <http://www.youtube.com/watch?v=Jl1bSJyAaNw>.