Unformatted text preview: 7. Why would a politician be tempted to release oil or heating oil from the SPR? 8. What is a reserve. Your answer should include the difference between recoverable and unrecoverable oil and what percentage of oil is typically produced from an oil field. 9. Why did oil companies conspire to control the production of oil during the early years of the oil industry? Your answer should include profit motive, and the role production played in their thinking. 10. Define “proven reserves.”...
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This note was uploaded on 02/06/2012 for the course EAS 375 taught by Professor Na during the Fall '11 term at Purdue.
- Fall '11