Introduction
What is black gold?
A popular nickname given to petroleum.
What is the liquid state?
The physical state of matter in which crude oil is predominantly found after being extracted from the ground.
What Process forms crude oil over millions of year?
Heat and pressure
The fuel most commonly used in cars.
Gasoline
Organization of Petroleum Exporting Countries
What is carbon?
Together with hydrogen, it forms the basic molecular structure of petroleum.
The legendary American business tycoon who founded the Standard Oil Company and became the world's first billionaire.
John D. Rockefeller
What process separates crude oil into different products?
Fractional distilation
The fuel most commonly used in airplanes.
Jet fuel
What effects oil prices the most?
Supply and demand
What is phytoplankton?
A type of microscopic marine organic matter that, buried millions of years ago, gave rise to petroleum.
The historic 1970s event where Arab oil producers cut off exports to Western nations, causing global prices to quadruple.
the 1973 Oil Crisis (or Oil Embargo
What is the fost step refining crude oil?
The petroleum product used to pave roads.
Asphalt
What is the world's most traded energy resource?
Oil
What is API Grade?
A mathematical scale created by the American Petroleum Institute to measure the density of oil relative to water.
The name of the massive 1911 US Supreme Court antitrust case that broke a single oil monopoly into 34 smaller companies like Exxon and Mobil.
What is Standard Oil Co. of New Jersey v. United States
What process removes impurities like sulfur from fuels?
Desulfurization
The petroleum derivative used to make many plastics.
Naphtha
Which region produces the most oil?
The Middle East
What is the pour point?
The lowest temperature at which oil can still flow and be pumped before it begins to solidify.
: The informal name given to the group of seven global oil companies that dominated Western petroleum production from the 1940s to the 1970s
the seven sisters
What process breaks large hydrocarbon molecules into smaller ones?
Cracking
The product used to lubrificate engines.
Lubrication oil
What happens to prices when oil supply decreases?
They increase