How do oil and gas influence world politics and economies? Where are these hydrocarbons being produced and used? Why is energy so important to everyone?
In this opening section, we will explore these questions and more to assure that you have an understanding of the global energy picture. It’s important to know how local regulations and state and federal policies affect not just the areas where production is occurring, but can influence many things around the world, from military conflicts to the economic growth of nations.
Why It Matters
The oil and gas industry has a unique leadership position in the world. With the dramatic changes in energy production, consumption, and technology, a strong knowledge base of energy development has never been more important. Having a sound understanding of the basics of primary energy development affords a contextual reality for interpreting regulatory and policy development.
Learning Objectives
- Distinguish between primary and secondary energy sources
- Perform unit conversions between separate unit systems and make calculations within those systems.
- Identify methods for measuring energy
- Describe how life is dependent upon energy
- Describe the principal factors affecting the U.S. energy budget, including consumption and domestic production and imports
- Discuss the benefits of domestic energy production vs. imports
- Evaluate the projections for changes in the U.S. energy mix through 2050, and the potential for continued use of fossil fuels.
- Explain the factors that impact energy prices and availability
- Distinguish and describe various sources of energy used in the U.S. and the strengths and weaknesses of their utilization.
- Identify three types of unconventional hydrocarbon resources
Images: “Oil Pipeline in Industrial District with Factories at Dusk” by iStock