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Introduction to Energy > Exam 1 Study > Flashcards

Exam 1 Study Flashcards

1
Q

The _______% of the US energy needs are expected to be met by oil and natural gas by the year 2040

A

61.60%

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2
Q

In what year did the US become a net exporter of petroleum products?

A

2011

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3
Q

In the first two weeks of lectures, we discussed how energy consumption is measured quadrillion btus. We mentioned how we consume about 35 quadrillion btus in oil currently. Which if the following is the correct way to write this number?

A

35,000,000,000,000,000

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4
Q

The first oil price shock was in ____, with the Arab oil embargo which caused an ______ in oil prices and shattered the consuming countries’ complacency about supply security and prices.

A

1973, rise

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5
Q

How many discussion posts do you need to make this semester and how many points in total are they worth? Note: See the syllabus for details on what types of discussion posts count, how much they are worth, and other requirements.

A

7, 35

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6
Q

From 2008 to 2015, what was the percentage change in U.S. production of crude oil and liquids?

A

88 percent

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7
Q

Which of these is an advantage of horizontal (directional) drilling?

A

A greater portion of the reservoir is exposed to drilling horizontally versus vertically.

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8
Q

In 1985/86, Saudi Arabia’s jettisoning of the swing producer role and adoption of netback pricing triggered _____ in oil prices.

A

a sharp decrease

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9
Q

Over time, electricity has been responsible for most of the energy consumption growth in the commercial sector due to the use of what? Hint: From Chapter 3 Energy Economics lecture.

A

Air Conditioning

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10
Q

What were the forecasts of peak-oil theorists, especially the doomsday scenarios, in the coming decades?

A

All (Mass unemployment, starvation, near stone-age conditions)

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11
Q

Why would oil prices remain high and not retreat to pre 2004 levels?

A

All (Widespread fears of peak, apprehension about middle east, concerns about reducing greenhouse gases

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12
Q

According to renewable energy enthusiasts what particular sources or conversions represents the answer to the world’s energy problems?

A

All (Wind, ethanol, photovoltaics, geothermal

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13
Q

Which of the following is not a reason why the shale boom occurred in the U.S.?

A

all are reasons (Transportation infrastructure, water availability, many independent firms willing to take risks, concentration of expertise)

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14
Q

The change in the U.S. production of crude oil and liquids, during the 2008-2015 period, represented what percentage of the entire world’s increase in production?

A

Almost 70 percent

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15
Q

Which of the following did not undergo huge efficiency gains due to technical advances?

A

American cars in 1970s

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16
Q

In 1978, who wrote in Scientific American that “the supply of oil will fail to meet increasing demand before the hear 2000?

A

Andrew Flower

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17
Q

What is meant by the “Seven Sisters” and “New Seven Sisters”?

A

Anglo-Iranian (started as Anglo-Persian) Oil Company (now BP) Gulf Oil (later part of Chevron) Royal Dutch Shell Standard Oil Company of California (SoCal, now Chevron) Standard Oil Company of New Jersey (Esso, later Exxon, now part of ExxonMobil) Standard Oil Company of New York (Socony, later Mobil, also now part of ExxonMobil) Texaco (later merged into Chevron)Saudi Aramco, Russia’s Gazprom, CNPC of China, NIOC of Iran, Venezuela’s PDVSA, Brazil’s Petrobras and Petronas of Malaysia

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18
Q

What are hydrocarbons?

A

Any organic compound consisting only of carbon and hydrogen.

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19
Q

Which of the following crude oils would be considered a light sweet crude oil?

A

API 32 and 0.5% sulfur

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20
Q

Which of the following is a light sweet crude oil?

A

API of 30 and .05% sulfur

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21
Q

Which of the following is not a reason for the collapse in oil prices in 2014?

A

Attempts by the U.S. Government to lower oil prices

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22
Q

_______ is a market situation where prices are progressively lower in distance delivery months as the image illustrates.

A

Backwardation

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23
Q

What is the name of the important shale oil play located primarily in North Dakota?

A

Bakken

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24
Q

What was the name of the shale that ran under much of North Texas?

A

Barnett

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25
Q

From 2008 to 2015, U.S. crude oil production increased by:

A

between 80 and 90 percent.

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26
Q

Which organization assessment put the global oil resource base of conventional and nonconventional resources, including the historical cumulative production of 1.08 trillion barrels, at 4.82 trillion barrels and likely to grow?

A

Cambridge Energy Research Associate

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27
Q

What are the 3 forms of fossil fuels?

A

Coal, natural gas, and petroleum

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28
Q

Which type of fuel has the highest btu per volume?

A

Diesel

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29
Q

Refining and marketing are part of __________ in the energy value chain.

A

Downstream

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30
Q

Who patented an explosive devise in 1865 to stimulate oil well?

A

Edward Roberts

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31
Q

______________ is the cleanest, quickest and most cost-efficient way to extend today’s energy supply in the future. Select the best answer. This is from the API reading.

A

Energy efficiency

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32
Q

Why were people not much concerned about low average mileage in American cars in 1990s?

A

Energy prices were low and fairly stable in 1990s

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33
Q

What is the most important natural gas liquid (NGL) as a feedstock to the petrochemical industry?

A

Ethane

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34
Q

In 1865, Edward Roberts was awarded a patent for a method to stimulate oil wells. The method developed by Roberts involved what?

A

exploding torpedo (utilizing gunpowder, later nitro)

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35
Q

In 1949 __________ performed the first commercial hydraulic fracturing jobs in Texas and Oklahoma.

A

Halliburton

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36
Q

The first commercial hydraulic fracturing jobs, in 1949, were performed by which company?

A

Halliburton

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37
Q

A photo shows an image of the Haiti and Dominican Republic border –during the day and at night. Haiti is on the left and the Dominican Republic is on the right. Notice how Haiti has a lot fewer trees than the Dominican Republic and notice how the night images are different. What is the main reason for this great contrast between the two countries?

A

Hati burned them for fuel, dominican regulated burning trees

38
Q

What caused enormous trade deficits in America in 1970s?

A

Huge oil imports which weakened the currency

39
Q

______ is/are any organic compound consisting only of carbon and hydrogen.

A

hydrocarbons

40
Q

Which company developed cyclic steam simulation in Alberta that injects hot pressurized steam into well bores and then leaves the steam to soak for a period ranging from a few months to three years to loosen the bitumen; the heated bitumen water mixture is then pumped to the surface?

A

Imperial oil

41
Q

The hydraulic fracturing fluid used by Nick Steinsberger to successfully fracture shale near Ft. Worth, Texas is known as slick water because:

A

it has additives to reduce friction between the water and the pipe.

42
Q

As shown in Figure 4-1b, which of the options below best describes how the average global per-capital consumption of primary energy has evolved over 1950 to 2010.

A

It has increased over the time period

43
Q

According to what person, did they say that the end of the oil era in the near future will bring “the inevitable doomsday” to be followed by “economic implosion,” which will make “many of the world’s developed societies look more like today’s Russia than the U.S.”?

A

L.F. Ivanhoe

44
Q

CH4

A

Methane

45
Q

It is forms the major part of natural gas (over 90%).

A

Methane

46
Q

The simplest hydrocarbon molecule with only one atom and four carbon molecules is _______.

A

Methane

47
Q

Pipelines and storage are part of __________ in the energy value chain.

A

Midstream

48
Q

Since 2006, what has been the fastest growing sector of the oil and gas industry

A

Midstream

49
Q

Which technology as per the high tech worshippers will make possible electricity transmission without losses and incredibly cheap electricity generation by thin-film solar cells?

A

Nanotechnolgy

50
Q

Who owns the majority of hydrocabon assets in the world?

A

National Governments

51
Q

What do energy enthusiasts see in the Arctic and under the sea bottom that can be ultimate fossil fuel whose enormous resource could last for centuries?

A

Natural Gas Hydrates

52
Q

Which of the following choices was not one of the technologies behind the shale oil boom in the U.S. from 2008-2014?

A

Nitroglycerin

53
Q

Rejected Energy is what Oil has be termed “Fool’s Gold.” Why?

A

Oil is fools gold results in a lot of energy loss

54
Q

Which of the following statements best describes the view of the author regarding US vehicles.

A

One challenge to improving the efficiency of US vehicles is the use of very inefficient vehicles - SUVs, vans, and pickup trucks – that have been used as passenger cars.

55
Q

Who in his acceptance speech for the Binneial OPEC Awards in 2006 concluded that today’s peak-oilers, much like their predecessors, will soon proved wrong; that the present contribution of oil and natural gas to the global total primary energy supply will decline only modestly by 2050; and while natural gas will become the leading fossil fuel, the oil industry at the end of the twenty-first century will still be larger than it was in 2003.

A

Peter Odell

56
Q

Picture of?

A

Pipeline pig

57
Q

The October 1973 Embargo and the production effects of Iranian Revolution followed by the last 1970s Iran-Iraq war had a similar effect on oil prices. What was this effect?

A

prices more than doubling

58
Q

What is the second most important natural gas liquid (NGL) as a feedstock to the petrochemical industry? Hint: This is from the Midstream lecture.

A

Propane

59
Q

Crude oil and natural gas reserve estimates are classified in three categories. Which of the following statements is correct.

A

Proved reserves are also known as P90; Probable reserves are also known as P50; Possible reserves are also known as P10

60
Q

Which of the following technologies did not contribute to the shale boom during the 2008-2015 period?

A

Radiography

61
Q

By weight, this is the largest additive to the water used in typical hydraulic fracturing procedures:

A

Sand

62
Q

What is the most expensive way to transport oil?

A

Semi-truck

63
Q

The photo shows the world’s first true gusher in the year 1901 in Texas. This event marks the beginning of the modern petroleum industry. The name of this famous oil well is:

A

Spindletop

64
Q

Which”Chokepoint” has the most crude oil in the world flow through it daily and how much flows through it?

A

Straight of Hormuz, 17 million barrels per day

65
Q

Which one of the companies operate large excavators in sprawling, opencast mines in Alberta oil sands and use the world’s largest off-road trucks to take the sand to extraction plants, after which the liquid goes to upgrading facilities that convert it to light, low-sulfer crude oil.

A

Suncor

66
Q

The natural gas producing Barnett Shale is located in which state?

A

Texas

67
Q

What was the cause of rise in oil prices from $2/barrel in 1973 to $11/barrel in 1974?

A

The price was deliberately engineered by leading oil exporters

68
Q

What is the purpose of the proppant added to the fracking water mixture?

A

The proppant enters the fractures and keeps them open.

69
Q

See the discussion post about “OPEC and Non-OPEC Alliance could be formalized” in the folder for Comments about Current Events. Read the article (link provided in post) and answer the question:Which of the following statements best describe the message of the article?

A

The UAE oil minister, al-Mazrouei, is impressed at how well the OPEC and non-OPEC partnership is working, particularly with production data showing a high level of compliance to the agreement.

70
Q

Which US sector is responsible for the largest petroleum consumption? Hint: From the Ch. 3 Energy Economics lecture

A

Transportation

71
Q

Who is the world’s largest natural gas producer? (Hint: Look at the API reading.)

A

United States

72
Q

Fossil fuels are forecast to continue to play leading roles through 2040 both for the US and the world, why and by how much?

A

US 79.6%, World 78.5%

73
Q

Benchmark crudes are?

A

West Texas Intermediate at Cushing, OK and Brent in the North Sea (UK)

74
Q

What are the two leading global benchmark crude oils, including the location of the crude oil.

A

West Texas Intermediate at Cushing, OK and Brent in the North Sea (UK)

75
Q

The US benchmark crude oil is __________ and the location for the pricing that is quoted is _______.

A

West Texas Intermediate; Cushing, Oklahoma

76
Q

What are considered forms of renewable energy.

A

Wind, Solar, Geothermal, Hydro (Water), Biomass

77
Q

The breakeven prices for shale wells improving, if so why?

A

Yes, improvement in efficiency

78
Q

According to the article entitled, “Myths and Facts on Wastewater Injection, Hydraulic Fracturing, Enhanced Oil Recovery, and Induced Seismicity,” by Rubinstein and Mahani (Seismological Research Letters, 2015), hydraulic fracturing is the primary cause of the large change in seismicity that has been observed in the U.S.

A

FALSE

79
Q

In OECD countries, consumption has recovered to a level equal to that prior to the recession in 2008. (From Ch. 3 Energy Economics and updated class lecture)

A

FALSE

80
Q

Ivanhoe is the patron saint of peak-oilers, considered an infallible and prescient seer because, as we are repeatedly reminded, he correctly predicted the peak of U.S. oil production in 1970

A

FALSE

81
Q

The breakeven prices for shale wells in the same shale plays are getting higher every year because the industry is becoming less efficient. This statement is:

A

FALSE

82
Q

Exams need to be taken through an approved proctor. True or False?

A

TRUE

83
Q

Oil has been termed “Fool’s Gold”

A

TRUE

84
Q

Oil still dominates at the most economical and efficient fuel. This statement is:

A

TRUE

85
Q

Sweet crude has less than 1% sulfur content and sour crudes have greater than 1% sulfur. This statement is:

A

TRUE

86
Q

The average iPhone uses more energy than a midsize refrigerator over a year, if the phone’s wireless connections, data usage, and battery charging are included.

A

TRUE

87
Q

The US can now export crude oil as of January 2016, the first time in the last 40 years. This statement is:

A

TRUE

88
Q

WTI Light Sweet Crude is the benchmark crude for the United States?

A

TRUE

89
Q

From 2008 to 2015, U.S. crude oil production increased by how much and why?

A

88%

90
Q

Oil still dominates at the most economical and efficient fuel, why?

A

takes much less space than land, solar, or ethanol

91
Q

The hydraulic fracturing fluid used by Nick Steinsberger to successfully fracture shale near Ft. Worth, Texas is known as slick water because?

A

reduces friction

Introduction to Energy (3 decks)

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