5
The Petroleum Culture
The definition of crude oil is confusing and variable (Chapter 1)
and has been made even confusing by the introduction of other
terms that add little, if anything to petroleum definitions and terminology (Speight, 2007; Zittel and Schindler, 2007). For example,
lately it has been pointed out that there are different classification
schemes: based on economic and/or geological criteria (Speight,
2007). The economic definition of conventional oil is "conventional
oil is oil which can be produced with current technology under
present economic conditions." The problem with this definition is
that it is not very precise and it changes whenever the economic or
technological aspects of oil recovery change. In addition, there are
other classifications based on API gravity such as "conventional oil
is crude oil having a viscosity above 17°API". However, these definitions do not change the definition stated elsewhere (Chapter 1)
that is used through this book.
Whatever the definition, petroleum is a finite resource and for the
past five decades, since the first postulations of resource depletion
(Hubbert, 1962), many scientists and engineers have warned of its
continued depletion leading to exhaustion of the available resources.
135
An Introduction to Petroleum Technology, Economics, and Politics
by James G. Speight
Copyright © 2011 Scrivener Publishing LLC.
The Petroleum Culture
The definition of crude oil is confusing and variable (Chapter 1)
and has been made even confusing by the introduction of other
terms that add little, if anything to petroleum definitions and terminology (Speight, 2007; Zittel and Schindler, 2007). For example,
lately it has been pointed out that there are different classification
schemes: based on economic and/or geological criteria (Speight,
2007). The economic definition of conventional oil is "conventional
oil is oil which can be produced with current technology under
present economic conditions." The problem with this definition is
that it is not very precise and it changes whenever the economic or
technological aspects of oil recovery change. In addition, there are
other classifications based on API gravity such as "conventional oil
is crude oil having a viscosity above 17°API". However, these definitions do not change the definition stated elsewhere (Chapter 1)
that is used through this book.
Whatever the definition, petroleum is a finite resource and for the
past five decades, since the first postulations of resource depletion
(Hubbert, 1962), many scientists and engineers have warned of its
continued depletion leading to exhaustion of the available resources.
135
An Introduction to Petroleum Technology, Economics, and Politics
by James G. Speight
Copyright © 2011 Scrivener Publishing LLC.