WorldWide Drilling Resource

Facts About Crude Oil and Petroleum Compiled by Bonnie Love, Editor, WorldWide Drilling Resource ® The word petroleum is actually derived from the Greek word petra (rock) and the Latin word oleum (oil). It was called rock oil until the mid-1500s when German miner- alogist, Georg Bauer (also known as Georgius Agricola), coined the term petroleum. Ten countries produce 2/3 of the world’s oil. They are: the United States, Saudi Arabia, Russia, China, Canada, United Arab Emirates, Iran, Iraq, Brazil, and Mexico. Why is oil shipped and priced by the barrel? Some believe the term comes from early oilmen who used old whisky barrels to collect oil when they struck a gusher. Funny thing, at one point when oil prices and availability of barrels were both low, the wooden barrel was actually worth twice as much as the oil inside. One barrel is equivalent to about 42 U.S. gallons. Only about 1/3 of the world’s crude oil is refined into gasoline. A typical barrel of oil is transformed into gasoline, heating oil/diesel fuel, jet fuel, asphalt and road oil, lubricants, and several other refined products. One of the products produced through refining oil is glycerin. This sweet-tast- ing synthetic ingredient is used in toothpaste, mouthwash, and soaps, as well as candies, cookies, cakes, and even margarine Did you know that crude oil helped save the whales from extinction? Believe it or not, in the 1600s whale oil was used to light lamps, and whale blubber was used to make candle wax. The demand for whale oil took some species to the brink of extinction. In the Early 1800s, whales were killed at a rate of about 15,000 per year. Sources estimate there were only 50,000 whales of various species remaining in 1850. Then came professor George Bissell who discovered oil could be processed into kerosene, which was not only cheaper than whale oil, but also smelled better and didn’t spoil like whale oil. Whale oil lamps were quickly replaced with kerosene lamps; by 1860, at least 30 kerosene plants were in production in the U.S., and whale oil was ultimately driven off the market. Whaling wasn’t actually banned until 1986. So they could have very easily joined the Dodo bird in premature extinction without the oil industry. Sperm whales were known to produce the best whale oil and wax for candles. Congratulat ions to: Ed I lsley Thet ford Ct r , VVTT Winner for March! Time for a Little Fun! February Puzzle Solution: Ring Power Corp. Boshart Industries Can you identify which ads in this issue these two photos came from? Win a prize! Send your completed puzzle to: WWDR PO Box 660 Bonifay, FL 32425 or fax to: 850-547-0329 _______________ _______________ !+34# 0/4#/# 2 #,'23(+'-& ((+%' 0& '/&'230/ 2#/ '/&'230/ $+4%0+/%20& *04.#+- %0. 777 $+4%0+/% 53 '7 3'& +43 0-' 1'/'23 2#) +43 "+/)3 #..'23 #..'2 +43 +6'24'23 ' 4+11+/) 4#$+-+8'23 -#7 +43 +1' "+1'3 0-4 0/ ''4* 5$3 25 WorldWide Drilling Resource ® APRIL 2016