Li Xiaobing - Oil: A Cultural and Geographic Encyclopedia of Black Gold [2 volumes]

A Cultural and Geographic Encyclopedia of Black Gold

Xiaobing Li
Michael Molina

Dr. Brian C. Black
Dr. Michelle Brym
Christopher Cumo
Li Fang
Susan Henke
Max Homerding
Dr. Douglas Hurt
Dr. Katrina Lacher
Matthew Jon Leeper, Jr.
Dr. Xiaobing Li
Michael Molina
Adam Payne
Li Weiying
Gregory Stephen Whitaker
Dr. Zhang Xiaoyi

Copyright 2014 by ABC-CLIO, LLC

All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, except for the inclusion of brief quotations in a review, without prior permission in writing from the publisher.

Library of Congress Cataloging-in-Publication Data

Oil : a cultural and geographic encyclopedia of black gold / Xiaobing Li and Michael Molina, editors.

volumes cm

Includes bibliographical references and index.

ISBN 9781610692717 (cloth : alk. paper) ISBN 9781610692724 (ebook) 1. Petroleum engineeringEncyclopedias. 2. Petroleum reservesEncyclopedias. I. Li, Xiaobing, 1954 editor of compilation. II. Molina, Michael, editor of compilation.

TN865.O54 2014

338.2'72803dc23 2014006601

ISBN: 9781610692717
EISBN: 9781610692724

1817161514 12345

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Oil remains the most important and widely used source of energy in the world. In spite of the increasing development of renewable energy, it is unlikely that its status will be challenged any time soon. Because of its high efficiency and the relatively low pollution it creates, oil, often described as black gold, has been the most popular energy source since replacing coal in the 1960s. The United States is the largest oil consumer in the world, and its consumption is predicted to continue rising. However, global oil markets have been experiencing a tumultuous decade since 2005, beset with rising and dramatically fluctuating prices. This is owing to a number of factors, including financial downturns, political crises, and international conflicts. Corporate executives, government strategists, energy experts, and scholars in the United States have debated the effect of energy policy, oil diplomacy, and American involvements in the Middle East. These debates have dominated many congressional hearings and have influenced the outcome of recent presidential elections.

Although oil remains dominant worldwide, the demand for natural gas is also forecast to grow steadily in the future, partly as an alternative to oil. There are various reasons for this. For one thing, it has now become a political imperative to reduce carbon emissions, and from this point of view, natural gas is preferable to oil, while being more convenient than renewable sources of energy. Another factor is concern about the inevitable decrease of the oil supply as peak oil is reached. Furthermore, the developments of natural gaspowered vehicles, as well as the natural gas chemical industry itself, also contribute to raising the demand. In recent years, a new development has also seemed set to shake up global energy markets. Shale gas, or gas formed within shale formations, has emerged as an important new source of natural gas, particularly in the United States. Many energy experts have predicted that shale gas could revolutionize the worlds energy consumption in the coming years; however, outside the United States most reserves remain underdeveloped. The oil and natural gas industries of the worlds largest economy, the United States, are clearly of great importance and interest to the entire world.

When the United States will lose its oil dependency and become energy independent, and whether the United States will be the largest energy producer in the world, are perennial foreign and domestic policy topics. Some pundits forget that, in fact, the United States was the largest oil producer in 2002. The September 11, 2001, terrorist attacks caused a drastic drop in oil prices, and members of the Organization of the Petroleum Exporting Countries (OPEC), such as Saudi Arabia, reduced oil output the following year. After 2002, the United States continued to increase its oil production, even though Saudi Arabia resumed its status as the worlds largest oil producer with Russia ranked as second, throughout the decade. Since 2008, the United States has enjoyed an annual 6 to 7 percent rate of increase in its fossil energy production, with a daily output average of 11.4 million barrels, which is very close to Saudi Arabias 11.6 million barrels per day. Some political leaders in Washington have forecast American energy independence by 2015. Citi Group predicts North America as the new Middle East by 2018, and the International Energy Agency (IEA) announced that U.S. oil production will soon exceed that of Saudi Arabia and will become number one in the world by 2020.

We will experience a historical moment when the United States transforms from oil dependency to an energy superpower in 2015 to 2020. Excited but uncertain, our public, our voters, and our students have many questions about the impact, of this transformation. What does it mean to each of us? How can I better understand this historical change? What should I know about its impact and how can I prepare for events that will affect all businesses, many professions, and my own career? Politicians provide some policy advice, and oil experts give their answers with charts and graphics. Some may be affected by political orientation, business perspectives, and engineering backgrounds. Recent efforts of oil and energy history research have taken a more social approach, paying more attention to links among oil, culture, and society. Broader understanding is needed to render a new perspective of oil and petroleum in our world.

Oil: A Cultural and Geographic Encyclopedia of Black Gold offers students and general readers the opportunity to examine culturally and geographically the major players, topics, and historical events related to oil and petroleum. This two-volume work provides a new perspective on the historical impact of the oil industry on human society. Volume 1 comprises key concepts, critical terms, major disasters, and important organizations and individuals relating to the oil industry. Told through an historical and social perspective, this first volume examines how oil and natural gas have changed our lifestyles, economic activities, political interests, technology development, and international relations. Containing more than 130 entries, this volume provides insights into human behavior, business practices, educational systems, and community building. Volume 2 examines specific countries that are major petroleum producers, energy consumers, and oil exporters or importers. These country profiles provide an overview of the importance of oil in each country, a brief history of oil, how oil is produced and used today, and in what quantities. This volume also addresses the political institutes, economic patterns, international relations, major trading partners, and social problems of almost 80 countries. Many entries in these two volumes indicate an intensive interaction between human society and the oil industry as they continue to influence and change one another, while making history together.