What is crude oil (petroleum) and how is it extracted from the earth and refined? what percentages of the commercial energy used in the world and in the united states are provided by crude oil? what is the peak pro- duction for an oil well and for the world? what is a petrochemical and why are such chemicals important? what are proven oil reserves? describe the two types of unproven reserves. discuss the question of how long global and u. s. supplies of conventional crude oil might last. what are the major advantages and disadvantages of using conventional crude oil?

Crude oil are products that are formed due to the long term decomposition of plants and animal matter over the years. 4 million barrels of crude oil are produced  and petrochemicals are chemicals that are produced from petroleum and their byproducts. Proven oil reserves are estimated to produce the calculated amount of oil and unproven oil reserves may or may not reach the calculated amount of oil. Conventional crude oils are alternative source which are used for crude oil.

Explanation:

The main process for the extraction of crude oil is drilling and when a place is tapped for the presence of crude oil by the geologist they set up huge rigs and start the extraction process.

Most of the worlds economy is mainly dependent on the crude oil because it is the core for all the oil products. The peak production of the oil well is the time in which the production reaches its maximum value and after which there will be a decline in the production of the crude oil

When petroleum is refined the by products that are obtained are called as petrochemicals some of the examples are natural gas, renewable resources and they are important because they have many commercial uses

The two types of unproven oil reserves are probable and the possible oil reserve the probable reserves are estimated to produce 40% confidently and the possible reserves are proven to produce 10%

The major advantages of conventional crude oil is they can be refined they can be used as lubricants they produce valuable gasoline products and they have become an integral source of transportation. Some of the disadvantages are prolonged use can cause damage to the environment and can cause high amount of pollution.

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