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Oil

Oil

Oil, also known as petroleum, is a naturally occurring, yellowish-black liquid found in geological formations beneath the Earth's surface. It is commonly refined into various fuels and chemicals which are crucial for the modern economy.

Formation

Oil formation involves the decomposition of buried dead organisms under heat and pressure over millions of years. This process occurs in what is known as source rocks, where organic material is transformed into hydrocarbons. Over time, these hydrocarbons migrate into porous and permeable reservoir rocks, where they can be trapped by impermeable cap rocks, forming oil and gas fields.

History

Extraction and Refining

Oil extraction involves drilling into the earth to reach the oil reservoir. Methods include:

After extraction, crude oil is transported to refineries where it undergoes distillation and other processes to produce various products like gasoline, diesel, jet fuel, lubricants, and petrochemicals.

Environmental Impact

The production, transportation, and use of oil have significant environmental impacts:

Economic and Political Significance

Oil has been central to geopolitical strategies and conflicts. Countries with large oil reserves, often referred to as petrostates, can wield considerable influence in global politics due to the control of energy resources. The oil price can sway economies worldwide, affecting inflation, growth, and even political stability.

Future of Oil

With the push towards sustainable energy, the future of oil is uncertain:

Sources:

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