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Oil and Gas

In: Social Issues

Submitted By bcharles1
Words 879
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Charles 1
Brandon Charles
Mr. Hoffman
ENGL 1301
2nd July, 2012
Oil and Gas Throughout the history of America, many controversial subjects are discussed. The oil and gas industry has become an important part of every person’s day. Whether it’s lighting, driving, or cooking, oil and gas has become a conglomerate in big business. Known as one of the most profitable industries in the market today, stocks fluctuate on a daily basis. The history, current leaders, and financial statistics of the industry all play factors in how the business operates. The history of oil and gas plays a factor in today’s society. Petroleum has always had great demand around the country. By the twentieth century, petroleum lead the world in the product for trade market. Countries such as America, Canada, and Russia began to establish oil fields in the early 1900’s and by mid century, these countries produced up to 3,500 tons of petroleum. The first modernized oil refinery was built in Poland. This oil refinery exported petroleum to counties in Europe and in northern Africa. Competition in eastern Europe for oil was getting competitive. The U.S. took over Europe as world leaders of producing oil in the 1920’s. Factories and refineries began popping up all over the country. The hotspots in the U.S. for oil and gas are

Charles 2
Texas, Oklahoma, California, and Alaska. These states to this day lead the country with the most oil and gas produced and their economies are based around the booming economy of oil and gas. Offshore oil welling in the Gulf of Mexico also contributes to the industry. Sherwood Boehlert states that, “About 60 percent of the oil consumed daily by Americans is used for transportation, and about 45 percent is used for passenger cars and light trucks.” (Boehlert). Therefore, the history of oil and gas plays a role in today’s use. The current…...

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