Fundamentals of Crude Oil

Fundamentals of Crude Oil
Single User Price: $200.00

Summary

This online course is taught at the introductory level and designed for anyone with an interest in the subject of crude petroleum oil. The subject matter does not require a prerequisite knowledge of the energy industry or specific subject matter. Therefore, it is an ideal course for all skill levels, professions, or general interests.

Crude petroleum oil got its start as a replacement for whale oil in lamps. Yes, the expansive global industry today has its humble beginnings in pre-electric lighting. At one time the United States was the world's supplier of oil and the price per barrel fluctuated at an inflation-adjusted rate of $14 to $18 for decades. But times have changed…dramatically. Today, the industry's major producers blanket the corners of the globe and the market has not seen $18 oil since the months following 9/11. The old and the new come together in this course as we span a timeline that looks at the formation of crude millions of years ago to the successful exploration and production techniques leading to successful wells five miles below the ocean surface. Whether your interest stems from a layman's curiosity or you are beginning a career in the industry, Fundamentals of Crude Oil is a great look at where energy begins.

We explore these questions and many more as we work our way through various topics, terminologies, and techniques related to bringing oil out of the ground and to the world market.

Goals

  • Who are the major producers and consumers?
  • What is crude oil?
  • Where does it come from?
  • When was it made and when will we run out?
  • Why does OPEC try to control the price?

What You Will Learn

Crude oil is a resource that affects nearly everyone on the planet. From a purely financial sense, it is a driving economic force behind the economies of the world. But not just as it relates to the cost of driving a car, but as the major energy input into the gross domestic infrastructure of a country. You can choose to ride a bike, but you cannot escape the pervasive effects oil has on the rest of the world around you. Crude oil's importance casts its shadows into the most important strategic and geopolitical corners of the world. At its simplest, oil plays a critical role in the national security of any energy dependent country. For these reasons, a basic understanding of the subject holds importance to everyone.
  • Geologic formation of oil
  • OPEC
  • Exploration techniques
  • Drilling technologies
  • Why you need mud
  • Recovery methods
  • Pipeline and ship movements
  • Types of crude
  • Price vs. quality
  • Global Chokepoints
  • Peak oil

Program Length

65 Minutes