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I think you are asking: What were the basic factors that affect oil production in the petroleum industry? Perhaps more simply put: What makes oil production in any one area go up or down?
It is a good question.
Oil production goes up when new fields are discovered. It takes a long time (as long as 10 years) between discovery and actual production from the field. There must be sufficient oil in the field, as confirmed by wells, to justifiy construction of facilities.
Oil production can increase when an oil company decides to improve production through stimulating wells (acidizing, hydraulic fracturing) or injection of water or gas to provide more energy and displace the hydrocarbons. Pumps can also increase production.
No matter how much efforts are put into improving production, there is only so much oil so eventually oil production goes down. There is frequently an increase in gas and/or water with time.
Now, the broader question- is the production in the US or the world going up, leveling off, or into a decline? I have included a link that pulls together many ideas on this subject. If new sources of oil, like tar sands, are now economical, perhaps we are in the leveling off phase. Others believe that because many of the largest fields are currently in decline, US oil production has peaked and we are in decline.
See related link.
What else can I help you with?
How Coal and petroleum are found underground?
Coal And petroleum product are form buried material like as plant animal. So some geologist gives us advise to on which we have to conduct test (sonic test, etc.). on which basic we can find out depth of coal and petroleum. when we get positive result then we start to take out those product.
Is it true or false that temperature and rainfall determine basic types of vegetation?
True. Temperature and rainfall are key factors that determine the types of vegetation that can grow in a specific region. The combination of these two factors influences the distribution of plants and helps to define the basic vegetation types found in different ecosystems.
Are non renewable sources used to make plastic?
Yes, most plastic is made from non-renewable fossil fuel oil and petroleum.Some plastics are beginning to be made from renewable vegetable oils, which means they are bio-degradable.
What will cause my soil to become to basic?
Soil becomes too basic (high pH) due to factors such as excessive liming, low rainfall leaching out acidic ions, or the presence of basic minerals like limestone. This can lead to nutrient deficiencies in plants and hinder their ability to absorb essential nutrients.
What environmental factors could cause soil to be acidic?
Environmental factors that could cause soil to be acidic include high rainfall, leaching of basic cations such as calcium and magnesium, presence of acid rain, decomposition of organic matter, and plant uptake of basic nutrients.
Define factors of production?
Factors of production are the inputs for the production process. Three basic factors of production are land, labor, capital and entrepreneurship.
What do economists consider as basic resources or factors of production?
The most important resources or factors of production in economics (with their respective factor rewards in parentheses) are: Land (rent); Labour (wages); Capital (interest); Entrepreneurship (profit). These factors, combined with management and economic risk taking, combine with other factors (specific to the industry) to produce output.
Which are the three basic factors of production?
Land, Labor, and Capital.
What is the importance of factors of production?
three basic thing of production are money plan and hard work
Four basic factors of production?
Land, labor, capital, and entrepreneurship.
Is petroleum better than gasoline?
petroleum is the basic element of gasoline
What are the 4 basic inputs that make up the factors of production?
land , labour , capital , organization
What is the biggest industry in the world?
Tourism is the biggest industry in the world
State and explain the four factors of production giving one example in each case?
Factors of production are the basic inputs used in the production of goods and services. It includes land,labour,capital and entrepreneurship. By Lamptey Samuel Boafo
What factors of production does apple use?
land, enterprise and capital - This 3 is among the basic factors that contribute to production perse - but in case of Apple, they also have a innovative and efficient technology that they use in production factors.
What was the Production Budget for Basic?
The Production Budget for Basic was $50,000,000.
What are basic and non - basic services?
Basic industries don't depend on other industries to exist; their raw material is not the output of another industry, but rather their raw material is the stuff of nature itself. The list of basic industries is short. Agriculture, ranching, fishing, forestry, mining, and petroleum constitute an exhaustive list. These are industries that a person 6,000 years ago could perform, using only the body and the resources freely available in the environment (though such people would be unlikely to want petroleum). By contrast, watch-making requires that an industry of metal-working already exists. The industry of metal-working, by turn, wouldn't get very far unless the industries of mining and forestry (for heat) existed. But mining and forestry don't necessarily depend on other industries for their inputs. This doesn't mean that basic industries can't be improved by using tools that are fashioned by other industries. The key issue isn't what tools may be used, but what is the raw material for the industry. If nature or natural products are the raw material, the industry is basic. If the raw material coming in to an industry was produced by a previous industry, that industry is not basic.
