Oil Industry Facts

So called “Green” energy has had no effect to date on worldwide crude oil and condensate production, as 2016 production projects to be 78.33 million barrels per day, almost identical with the 2015 production figure.

—Oil & Gas Journal, Dec. 5, 2016 Production residue is often radioactive due to high concentration of Naturally Occurring Radioactive Material Bunker fuel for ships, which is little more than asphalt, can produce as much pollution from a single ship in a year as 50m cars and is the most polluting fuel in the world. Canadian tar sands are complex operations involving mining and upgrading two tons of sand to produce a barrel of low quality crude oil. Natural gas liquids and biofuels generally have lower energy content than crude oil and are generally not widely applicable transport fuels in their own right. Shale oil requires constant investment in drilling to maintain production. Typical oil wells in shale plays decline as much as 60%/year, compared with 7-10%/year for conventional wells

— Oil & Gas Journal, Jan.5, 2015

