Eager to find similar deposits, investors spent billions of dollars throughout the Lone Star state in search of oil and natural gas. The cheap fuel they found helped to revolutionize American transportation and industry. Storage facilities, pipelines, and major refining units were built in the Beaumont, Port Arthur, Sabine Pass, and Orange areas around Spindletop. By 1902 there were more than 500 Texas corporations doing business in Beaumont. Many of the major oil companies were born at Spindletop or grew to major corporate size as a result of their involvement at Spindletop.
This company has made many strategic alliances for gasoline for testing vehicles with General Motors, Toyota and ford. Chevron is the owner of Shell in the United States and also has also a subsidiary, Chevron Shipping Company that provides maritime transport operations. According to Fortune Global 500 it is listed on the 10th place, the Financial Times Global 500 ranks it as in the 9th place and Forbes Global 2000 in the 16th place. Exxon Mobil This company evolved from a local marketer of kerosene in the U.S. to the largest publicly traded petroleum and petrochemical company in the world. The Standard Oil Company in Ohio was founded by Rockefeller and associates in the 1870.
It is also contributed to United States oil industry by seventeenth percent of produce oil, as said by (Pam Barrett pg. 43) “Oil is by far the largest of Alaska’s industries”, and (R. Warren Anderson ) “Former Secretary of the Interior Gale Norton summed up its success in 2003 that Today the pipeline produces 17 percent of our domestic petroleum. It has pumped nearly 14 billion barrels of oil and $400 billion into our economy”, it gave jobs for several thousand people, Alyeska workers and sub-contractors. The pipeline has help Alaska which is the most heavily tax state to the most tax-free state. Alaska has profit more than half of the income from the pipeline has produces and the other profit goes to the United States.
(PTEN) is the second-largest land-based oil and gas drilling and exploration company in North America. Patterson operates within three business segments: Contract Drilling, Pressure Pumping and Oil and Natural Gas Exploration and Production. Contract drilling makes up 65% of total revenues, pressure pumping makes up 33% of revenues and oil and natural gas exploration and production makes up 2% of revenues. Patterson operates primarily in the Southwestern and Northeastern regions of the United States with 308 contract drilling rigs and 631,070 hydraulic horsepower in pressure pumping equipment; and operates 20 contract drilling rigs in
Explain why oil exploration in the areas shown could lead to high economic and environmental costs (10) Oil exploration is the extraction of petroleum from reservoirs underground and using the substance to benefit people. For example using it for transport and industry. However continuous exploitation can lead to costs, which can be both economic and environmental. Figure 1 shows that Canada is a location that is currently exploiting oil, 170 billion barrels per year. With Canada being second to Saudi Arabia to have the largest stores of oil in the country, it can provide large amounts of oil without the need to dig large mines to get to it.
Fort McMurray, Alberta has one of the largest petroleum deposits in the world. One thousand times more oil then Saudi Arabia’s which makes Canada a safe oil resource for the world. This equals out to the same area as the State of Florida of oil filled land. The expense oil does not only come financially but environmentally. Fort McMurray is responsible for two thirds of Canada’s pollution and to mine this oil all trees must be cleared in the area which can vary from 4 to 6 square miles at
Fracking is a procedure that has been around as early as 1947. What started as an experiment to obtain more natural gas ended up being a successful operation and has spread worldwide. Natural gas is our number one domestic energy source that fuels basic necessities that we use every day, including; vehicles, heating, cooking, and general electricity. As of 2012, 2.5 million fracking operations have been performed worldwide. Out of those procedures over one million were produced in the United States.
Some of the major negative economic effects of natural gas drilling are the enormous amounts of pollutants released into our water sources. With estimates coming close to 50 trillion cubic feet of natural gas sitting in the Marcellus, it’s no wonder companies are willing to drill at any cost to the local water systems and communities. In other words, there is conservatively two trillion dollars in nature gas reserves sitting right under us. The problem with fracking is being able to find an economical and environmentally friendly way to dispose of the waste water. There are approximately thirteen treatment plants used to deal with the waste water that is accumulated by the massive fracking operations all over the state.
The refinery has devoted many millions of dollars in strategies to control pollution since its creations, yet before the safety regulations of the country were passed. Chevron Richmond refinery was already controlling its pollutant discharges on a conventional treatment system build in the 1960s and 1970s. The first stage of this system uses primary treatment to remove pollutants from water, largely by scanning the oil and hydrocarbons.
Hydraulic Fracturing Since 1947, hydraulic fracturing, also known as hydrofracking, has been practiced globally to capture deposits of natural gas. Halliburton performed the first hydrofracking job in 1947 in limestone deposits. Halliburton is the world’s largest fracking services. It has operations in more than 70 countries and employs over 60,000 people. Significant research and development and technology demonstration were necessary before hydrofracking could be commercially applied to shale gas deposits, due to shale's high porosity and low permeability.