[Fossil fuels are expected to continue supplying much of...

[Fossil fuels are expected to continue supplying much of the energy used worldwide. Although liquid fuels—mostly petroleum-based—remain the largest source of energy, the liquids share of world marketed energy consumption falls from 34 percent in 2010 to 28 percent in 2040, as projected high world oil prices lead many energy users to switch away from liquid fuels when feasible. http://www.eia.gov/forecasts/ieo/more_highlights.cfm] Competition Drilling Price Competition In the gas and oil drilling industry price competition isn’t as high as you would think for numerous reasons. Within the industry it is very monopolistic. In a recent energy article titled Energy Efficiency: May the Cheapest Fuel Win it states that the industry as a†¦show more content†¦They were then joined by Qatar, Indonesia, Libya, the United Arab Emirates, Algeria, Nigeria, Ecuador, Gabon and Angola. Recently though Ecuador,Indonesia, and Gabon have suspended or terminated their membership http://www.opec.org/opec_web/en/about_us/25.htm. The mission of the OPEC is to â€Å"coordinate and unify the petroleum policies of its Member Countries and ensure the stabilization of oil markets in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers and a fair return on capital for those investing in the petroleum industry†http://www.opec.org/opec_web/en/about_us/23.htm. â€Å"Fair re turn on capital for those investing† is a huge understatement being that the average ROI of these countries is way over fair being that they control over 65% of the worlds oil reserves http://www.api.org/aboutoilgas/upload/oilprimer.pdf. This is where the competitiveness and disagreeing start between OPEC and Non-OPEC in that Non-OPEC do not agree with OPEC’s stockpile of crude oil not being released to the market. This forces Non-OPEC countries to produce and sell their barrels at full capacity. This is a problem because once production is slowed down and a shortage occurs the bargaining power of theShow MoreRelatedSexually Transmitted Diseases35655 Words   |  143 Pages(Compiled) Table of Contents Unit 1 Measurement 5-10 Unit 2 Matter 11-48 Unit 3 Basic materials for maintaining life Air 49-54 Water 55-68 Food 69-71 Other biomolecules of life 72-76 Unit 4 Energy in the Community Electricity 77-78 Heat 78-81 Light 82-91 Sound 92 Simple Machines 93-99 Unit 5 The Physical Environment Weather and Climate 100-113 Soils 114-128 Unit 6 Living things inRead MoreEngineering Fundamentals of the Internal Combustion Engine59558 Words   |  239 PagesMean Effective Pressure, 49 Torque and Power, 50 Dynamometers, 53 Air-Fuel Ratio and Fuel-Air Ratio, 55 Specific Fuel Consumption, 56 Engine Efficiencies, 59 Volumetric Efficiency, 60 Emissions, 62 Noise Abatement, 62 Conclusions-Working Equations, 63 Problems, 65 Design Problems, 67 , 3 ENGINE CYCLES 68 3-1 3-2 3-3 3-4 3-5 3-6 3-7 3-8 3-9 3-10 3-11 3-12 3-13 3-14 Air-Standard Cycles, 68 Otto Cycle, 72 Real Air-Fuel Engine Cycles, 81 SI Engine Cycle at Part Throttle, 83 Exhaust ProcessRead MoreExxon Mobile Capstone40455 Words   |  162 Pagesfor natural gas in heating homes and businesses and for generating electricity will grow by two percent annually between now and the year 2030. 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