oil and gas

Topics: Petroleum, Time, Forecasting Pages: 2 (539 words) Published: March 16, 2014
Fuel is a commodity that the United States and countries all across the globe will continue to use unless an alternate fuel is made available. The uses for fuel include everyday uses in our homes, running vehicles, and the use in manufacturing plants and other businesses that run on fuel.

BMI oil and gas forecasts have been extended to cover a 10-year period, providing a guide to likely supply and demand trends from 2008 to 2018 (Oil & Gas Outlook: Long-Term Forcasts, 2009). Gas demands have been rising because environmental concerns have caused fuel to be the choice for power in many parts of the world. It is suggested that the fuel demands will continue to grow in the coming years because many will continue to choose fuel as the main means of power across the world.

Without purchase deals, gas field will not be developed because storing fuel is difficult. Supply currently matches demands as it will in the future because storing the fuel will continue to difficult until a secured long term purchase deal has been put into place. If a long term purchase deal has been put in place, it is likely that supply will be higher in the future because fuel will be stored away for future use. A further deterioration of the already weak 2007-2012 oil demand trend is predicted for the 2013-1018 period, reflecting the mature nature of several key economies, plus the drive towards energy conservation and fuel substitution away from oil (Oil & Gas Outlook: Long-Term Forcasts, 2009). The demand for oil has changed since people have begun to come up with alternative oils that they can use. People have begun to save in ways that they did not in the past. Electric cars have lowered the sales for cars that run on fuel while it has decreased the sales of fuel. In the past, all cars ran on fuel while car makers are selling more of the electric cars because it is better for the environment. People have also started to use less gas in the strive to save the...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Pakistan Oil & Gas Sector Profile. Essay
  • Oil Refinery in India Essay
  • Indian Oil Corporation Project Essay
  • Servo Oil Project Essay
  • Oil and Gas industry Essay
  • Essay about oil and gas motivation
  • Oil and Gas Essay

Become a StudyMode Member

Sign Up - It's Free