Oil and oil products are a part of our daily lives. Modern American society could not function without the benefits derived from the extraction and refinement of oil. How much do we really know about this critical resource?
1. How much petroleum does the world consume?
Worldwide consumption of petroleum was 89.2 million barrels per day in 2012. The three largest consuming countries were:
• United States (18.6 million barrels per day)
• China (10.2 million barrels per day)
• Japan (4.7 million barrels per day)
Data from: EIA: International Energy Statistics
2. What's in a barrel?
We use oil for more than just powering our cars and heating our homes. Once the crude oil comes out of the ground, it is sent to a refinery and turned into an amazing variety of products. An average 42-gallon barrel of oil can only produce about 19 gallons of gasoline. The other 23 gallons yield other fuels, plastics, and byproducts from the refining process.
3. Where does the U.S. get its oil?
The United States has 40% of its oil demand filled by domestic product. The remainder is imported, predominantly from Latin America (Mexico and Venezuela), Canada, the Persian Gulf (Saudi Arabia), and Africa (Nigeria). Oil reserves are defined as hydrocarbon resources that could be accessible in the near future. Within the United States (as of 2011), Texas had the largest oil reserves, followed by federal offshore locations including the Gulf of Mexico and Alaska. Not surprisingly, considering its large reserves, the highest domestic production of oil in 2012 came from Texas. Oil produced from oil fields in Texas and the Gulf of Mexico accounted for about 50% of US production, while Alaska contributed 10%. For a number of years, Alaska was the second-highest producing state, with California always a close third. In 2012, however, North Dakota increased their oil production by almost 60% and is currently the second-highest producing state.
PHOTO CREDIT: Info graphic designed by Brendan Daly. For a larger file of this image, look to the resource, "From One Barrel of Oil Infographic."
The United States produces and consumes a large volume of oil in a year, and not only for transportation. This oil is refined to make gasoline, as well as a great variety of other products that we use on a daily basis.
From One Barrel of Oil Infographic
What types of products is crude oil turned into? Look at this infographic to see what comes from one barrel (42 gallons) of oil. The information comes from EIA. Learn more from their site by clicking here.
Milk vs. Oil Usage Infographic
Try to imagine how much oil we use in a day, month or year. These numbers may be hard to visualize because oil factors into so many products we use and it is an important part of our standard transportation. Since oil and milk are both often measured in gallons, get a visual comparison of how much milk versus oil is consumed by an individual in a typical month. The statistics for this infographic come from the EIA and USDA Economoc Research Service.