Geotimes explores oil around the world
February 4, 2008With oil hovering around $90 a barrel, Geotimes magazine examines emerging trends and issues in several obvious, and some not-so-obvious locations, in this month’s cover story “Oil Around the World.”
Land disputes, foreign sanctions, terrorism, war and economics play into the exploration and recovery of the world’s oil and natural gas reserves. Be it Libya, Iraq or Norway, the South China Sea or India, many of the issues are the same, leading to complications that often keep investors away from vast oil and natural gas reserves.
Land disputes rule the future of oil and gas exploration in many parts of the world. Uncertainty about the boundary between Norway and Russia in the Barents Sea is an obstacle to the development of vast oil and gas resources. Likewise, Asian countries continue to dispute areas of the South China Sea, locking away the possible oil and gas resources from the global economy. Yet, the economic possibilities are bringing countries together in cooperative seismic studies. Will this yield the potential for international agreement and investment?
Along with China, the growth in India has been fingered as one of the causes of the spike in oil prices. Though not historically a major oil producer, India’s heritage and geology may yield some future surprises.
Of course political and military conflict has a major impact on oil and gas supplies and prices. Thanks to a thawing of relations between the West and Libya and the potential high return for investment in Iraq, some companies are finding that wading into conflict-torn territories may be a gamble well worth the risk.
Source: American Geological Institute
-
Engineers build first sub-10-nm carbon nanotube transistor
Feb 01, 2012 |
4.9 / 5 (31) |
30
-
Something old, something new: Evolution and the structural divergence of duplicate genes
Jan 31, 2012 |
4.6 / 5 (7) |
1
-
The hidden nanoworld of ice crystals: Revealing the dynamic behavior of quasi-liquid layers
Jan 30, 2012 |
5 / 5 (3) |
1
-
Stock market network reveals investor clustering
Jan 27, 2012 |
3.9 / 5 (23) |
8
-
Of microchemistry and molecules: Electronic microfluidic device synthesizes biocompatible probes
Jan 26, 2012 |
5 / 5 (1) |
0
-
Do some geologists actually act a lot like Randy Marsh?
18 hours ago
-
Discrepancy between oxygen and carbon-dioxide levels
Feb 09, 2012
-
where gems are found in the world
Feb 09, 2012
-
Wind Waves in Reservoir ~ Wind run-up and Wind set-up
Feb 08, 2012
-
Balance of oxygen in the atmosphere
Feb 01, 2012
-
The case for a methanol-based economy
Jan 30, 2012
- More from Physics Forums - Earth
More news stories
Europe stakes billion-dollar bet on new rocket
A pencil-slim rocket is scheduled to lift into space from South America on Monday, carrying a billion-dollar bet that Europe can grab a juicy slice of the market to place satellites in low orbit.
Space & Earth / Space Exploration
16 hours ago |
3.5 / 5 (2) |
0
Political leaders play key role in how worried Americans are by climate change: study
More than extreme weather events and the work of scientists, it is national political leaders who influence how much Americans worry about the threat of climate change, new research finds.
Feb 06, 2012 |
5 / 5 (6) |
72
NASA budget will axe Mars deal with Europe: scientists
US President Barack Obama's budget proposal to be submitted next week for 2013 will cut NASA's budget by 20 percent and eliminate a major partnership with Europe on Mars exploration, scientists said Thursday.
Space & Earth / Space Exploration
Feb 10, 2012 |
5 / 5 (3) |
48
Humans may have helped the decline of African rainforests 3000 years ago
(PhysOrg.com) -- Large areas of rainforests in Central Africa mysteriously disappeared over three thousand years ago, to be replaced by savannas. The prevailing theory has been that the cause was a change ...
High planetary tilt lowers odds for life?
Highly-tilted worlds would have extreme seasons, subjecting life to alternating periods of scorching and subzero temperatures. This could make the development of all but hardiest, simplest creatures a long ...
Space & Earth / Space Exploration
Feb 06, 2012 |
4.8 / 5 (12) |
14
|
Walney offshore wind farm is world's biggest (for now)
(PhysOrg.com) -- The Walney wind farm on the Irish Sea--characterized by high tides, waves and windy weather--officially opened this week. The farm is treated in the press as a very big deal as the Walney ...
GPS court ruling leaves US phone tracking unclear
A US Supreme Court decision requiring a warrant to place a GPS device on the car of a criminal suspect leaves unresolved the bigger issue of police tracking using mobile phones, legal experts say.
Europeans protest controversial Internet pact
Tens of thousands of people marched in protests in more than a dozen European cities Saturday against a controversial anti-online piracy pact that critics say could curtail Internet freedom.
Study finds that anti-diabetic medication can prevent the long-term effects of maternal obesity
In a study to be presented today at the Society for Maternal-Fetal Medicine's annual meeting, The Pregnancy Meeting, in Dallas, Texas, researchers will report findings that show that short therapy with the anti-diabetic medication ...
Netflix settlement trims 14 pct off 4Q earnings
(AP) -- Netflix pressed the rewind button on its fourth-quarter earnings after settling allegations that the video subscription service violated a consumer-privacy law.
Navy to begin tests on electromagnetic railgun prototype launcher
The Office of Naval Research (ONR)'s Electromagnetic (EM) Railgun program will take an important step forward in the coming weeks when the first industry railgun prototype launcher is tested at a facility ...
Feb 04, 2008
Rank: not rated yet
west of Alaska (nome area) back in the 70's when we built the
pipeline, you can't find a peep about all that oil what makes you
think any other info they leak to the public is the truth.