Dirty Jobs: Drilling for Oil

This video is from a T.V Show "Dirty Jobs with Mike Rowe" and it shows how dangerous and laboring it is to do the job of drilling for oil.

BP Oil Spill

This oil spill occurred in the Gulf of Mexico on the 20^th of April 2010 and had finally concluded on the 15^th of July 2010. There was a spill that was coming from the sea-floor which caused an explosion. This explosion killed 11 workers and had caused 17 other injuries. The oil had ceased to leak because they had finally capped the wellhead. In the end, it is estimated that there had been 4.9 million barrels (780,000 m³) of crude oil leaked.  This is the largest accidental oil spill in the history of the petroleum industry.  This spill caused extreme damage to the marine wildlife in the Gulf, and greatly affected fishing and tourism.  Even in November, parts of the Gulf were closed for shrimp fishing because there were balls of tar caught in the nets. In January 2011, there were still reports of oil sheen, tar balls, and oil onshore. The U.S government held BP accountable for the oil spill, gave them the clean up charges and other costs.  

More About The Oil Market

The Oil Market is a very complex market to this date; we need oil for just about everything we do in our lives. I'm going to start with the basics, oil endangered natural resource, it is drilled from deep in the ground. A lot of oil comes from under a body of water, considering the land is made up of 70% water, so that is why you hear about oil spills, one of the most recent one is the BP oil spill in the Gulf of Mexico (More posts to come explaining the situation). There are so many things that can go wrong, that hurts the environment so why do we take all these risks? Because we need oil! You would be surprised on how many things use the oil that we get. Oil is used to make plastic, buildings, cars, and even toothpaste! But the more oil we use, the scarcer it becomes, making the oil prices to rise, making the products that use oil rise in price. As I said before, the most noticeable change is the gas prices. About 5 years ago, gas prices were around 60-80 cents per liter. Now, its average is around 130 cents per liter, as you can see that is a huge jump.

Why I Chose The Oil Market

I chose the oil market as a topic because it is an issue that relates to our day to day lives. We can all see how oil is doing by the gas prices, which means that it effects us. If no one is informed about this topic, no one will know how and why prices are sky rocketing. Our world is run by the oil we use.

Libya Crisis Affecting Global Oil Market

This video is a little introduction to how the Libya crisis is affecting nations all around the world, and how the oil is hurting everybody...Enjoy!

Feb 25, 2011