Oil Facts

  • After food, fossil fuel is humanity's most important source of energy.

  • Oil was formed more than 300 million years ago.

  • Oil biggest producer is Saudi Arabia followed by Russia.

  • Oil won't last forever because its sources are limited.

  • Oil together with coal and natural gas supply about 88 % of the world's energy needs.

  • Oil's most known product gasoline costs in Saudi Arabia about 45 cents a gallon and in Venezuela just a quarter of the dollar.

  • Oil can be found under ground in areas of rock that are porous and contain the oil within the rock itself.

  • Oil reserves refer to portions of oil in place that are claimed to be recoverable under economic constraints. Saudi Arabia leads the way with 264.3 billion barrels, in front of Canada and Iran.

Oil Facts
Energy Facts
Understanding Oil

It's important to understand what oil is and what it is not, the historical context of energy around the world, and where we will get our oil in the future. You will find the most current energy facts on this website.

Oil 101

As a fuel, oil was originally used as kerosene for lighting, replacing animal, vegetable and coal oils. It also came to be used in furnaces. Its biggest use, however, came with the development of the automobile. Today almost all forms of locomotion -- cars, trucks, buses, trains, ships and airplanes -- are fueled by oil, diesel or gasoline. Fuel oil has also been burned to produce electricity, although that has always been mostly coal's job.

Many of the benefits we derive from our way of life, and our high standard of living, are due to fossil fuel use. Light, heat, food, communication, travel, community -- all are based on our ability to produce and use energy. And most of our energy, about 85%, comes from fossil fuel.

Almost all fossil fuel use is by burning or combustion. Burning produces waste products due to impurities in the fuel, especially particulates and various gases such as sulfur dioxide, nitrogen oxides, and volatile organic compounds.

Oil 201

Crude oil comes in many forms. Usually it is black, but green, red or brown oils are not uncommon. Thin and volatile oils are called "light", whereas thick and viscous ones are "heavy". Light oils have an API gravity of 30 to 40 degrees, which means that the density is much less than 1.0 g/cc. These oils float easily on water. By contrast, some heavy oils have an API gravity of less than 12 degrees and are so dense that they sink, rather than float, in water.

Most geologists today agree that crude oil forms over million of years from the remains of tiny aquatic plants and animals that are exposed to the combined effects of time and temperature. In other words, oil forms from organic matter that is either "cooked" deep within the earth for long periods of time at low temperatures, or "cooked" for short periods of time at high temperatures.

Petroleum is used mostly, by volume, for producing fuel oil and gasoline.