VP Biden and the whole democrat caucus perhaps need a short class on petroleum before they declare their war on oil and coal.
A Federal Leasing and Development Ban Threatens America’s Energy Security and Economic Growth, Undermines Environmental Progress
API: Energy produced on federal lands and waters plays a critical role in America’s energy revolution, accounting for 12% of U.S. natural gas production and nearly a quarter of U.S. oil production.
According to a new OnLocation analysis, The Consequences of a Leasing and Development Ban on Federal Lands and Waters (Sept. 2020), U.S. energy leadership could be at stake if a federal leasing and development ban is enacted.*
Highlights from the analysis include:
Energy Security Impacts
- U.S. oil imports from foreign sources could increase by 2 million barrels a day by 2030
- Annual U.S. natural gas exports could decrease by 800 billion cubic feet by 2030
- U.S. offshore natural gas and oil production could decrease by 68% and 44% respectively
- U.S. GDP could decline by a cumulative $700 billion by 2030
- Nearly 1 million jobs could be lost by 2022
- U.S. households could spend a cumulative $19 billion more on energy by 2030
- Over $9 billion in government revenue could be at risk
- National U.S. CO2 emissions could increase by an average of 58 million metric tons and keep rising to represent a 5.5% increase in the power sector by 2030
- Current transition from coal to natural gas could be delayed, keeping half the coal capacity that would otherwise be retired by 2030
- Total U.S. coal use could increase by 15% by 2030
Petroleum is an important substance across society, politics, technology including in economy. Besides, apart from fuel there are a lot of petroleum by products that show up in our modern life. Let’s look at some uses of petroleum below.
- Detergents, Dyes, and Others
- Plastics, Paints and More
When we talk about agriculture we are talking about fertilizers. Here, petroleum is used in the production of ammonia which serves a source of nitrogen. The Haber process is used in this case. Pesticides are also made from oil. All in all, petroleum based products are used extensively in agriculture as it helps in running farm machinery and fertilize plants.
2. Detergents, Dyes, and Others
Distillates of petroleum that include toluene, benzene, xylene, amongst others are used to obtain raw materials that are further used in products like synthetic detergents, dyes, and fabrics. Benzene and toluene which gives polyurethanes is often used in oils or surfactants, and it is also used to varnish wood.
3. Plastics, Paints and More
Plastics are mostly made of petrochemicals. Petroleum-based plastic like nylon or Styrofoam and other are made from this element. Usually, the plastics come from olefins, which include ethylene and propylene. Petrochemicals are also used to produce oil based paints or paint additives. Petrochemical ethylene is found in photographic film.
4. Pharmaceuticals and Cosmetics
Petroleum by-products like mineral oil and petroleum are used in many creams and other pharmaceuticals. Tar is also produced from petroleum. Cosmetics that contain oils, perfumes are petroleum derivatives.
Petrochemicals are also used in manufacturing synthetic rubber which is further used to make rubber soles on shoes, car tire and others rubber products. Rubber is primarily a product of butadiene.
Popular Products Made from Petroleum
Some products made from or contain petroleum are; wax, ink, vitamin capsule, denture adhesive, toilet seats, upholstery, CDs, putty, guitar strings, crayons, pillows, artificial turf, hair colouring, deodorant, lipstick, heart valves, anaesthetics cortisone, aspirin.