Oil Research Paper

Oil Research Paper-54
Countries have taken advantage of oil and they have made oil as a tool of foreign policy.

Countries have taken advantage of oil and they have made oil as a tool of foreign policy.

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With increase in demand of energy, economical production of clean and high quality fuels from available resources is desirable more than ever before.We use cookies to make interactions with our website easy and meaningful, to better understand the use of our services, and to tailor advertising.For further information, including about cookie settings, please read our Cookie Policy .Accordingly, the research calculates that the long-term break-even oil price for gasoline to remain competitive as a source of mobility is USD 9 – 10/barrel, and for diesel USD 17 – 19/barrel.The oil industry is so massive that the amounts available for purchase on the spot market can provide very large and effectively instantaneous flows of energy.By contrast, new wind and solar projects deliver their energy over a 25-year operating life.Nonetheless, we think the economics of renewables are impossible for oil to compete with when looked at over the cycle., Mark introduces the concept of the Energy Return on Capital Invested (EROCI), focusing on the energy return on a USD 100 bn outlay on oil and renewables where the energy is being used to power cars and other light-duty vehicles (LDVs).Our analysis indicates that for the same capital outlay today, new wind and solar-energy projects in tandem with battery electric vehicles will produce 6x – 7x more useful energy at the wheels than will oil at USD 60/barrel for gasoline powered light-duty vehicles, and 3x – 4x more than will oil at USD 60/barrel for light-duty vehicles running on diesel.To learn more or modify/prevent the use of cookies, see our Cookie Policy and Privacy Policy.IJOGCT is a multidisciplinary refereed journal that is concerned with exploration, production, processing and refining, storage and transportation, economical, managerial, business, environmental, safety and security issues related to oil, natural gas, coal and petrochemicals as well as manufacturing and refining of biofuels.

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