Oil and gas are running out by Romana Otockova

Natural gas is often informally referred to as simply gas, especially when compared to other energy sources such as electricity. Before natural gas can be used as a fuel, it must undergo extensive processing to remove almost all materials other than methane. The by-products of that processing include ethane, propane, butanes, pentanes and higher molecular weight hydrocarbons, elemental sulfur, and sometimes helium and nitrogen.
Also all oils burn in air generating heat, which can be used directly, or converted into other forms of fuels by various means. For example, heating water into steam which is funneled into a turbine which turns a generator, which then produces electricity. Oils are used as fuels for heating, lighting (e.g. kerosene lamp), powering combustion engines, and other purposes. Oils used for this purpose nowadays are usually derived from petroleum, (fuel oil, diesel oil, gasoline (petrol), etc., though biological oils such as biodiesel are gaining market share.

The US domestic consumption of oil exceeds 20 million barrels per day, 26% of total World consumption, an amount higher than the yearly consumption for all of Europe and all of Africa combined. U.S. oil imports constitute 56% of total consumption and are expected to reach 66% by 2020. The U.S. contains only 2.8% of total proven world oil reserves. Most of oil and natural gas reserves are located in the Middle East and Caspian Sea basin.
Within the next 20 years, supply of oil, the largest single fuel in the global energy mix, is set to fall. In the years ahead, the world will depend on innovative resource management techniques like these to ensure that competition for oil, water and other scarce resources remains peaceful, and that the global socio-economic environment remains stable.


related story: http://news.yahoo.com/s/ap/oil_prices;_ylt=AglN50jRdKimwmdktmQDAU.s0NUE

by Romana Otockova for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.<br><br><font size=2>These news are original content from young talents around the world and are selected for you by Chris Cantell.</font><br>

edited by BEata Biskova