Crude Oils Production, Environmental Impacts and Global Market Challenges

The primacy of crude oil as an energy source has provided a platform for social-economic development in most oil producing and consumer nations. Food, housing, transportation, investment services and inflationary trend is largely dependent on the volatility of crude oil prices. The anticipated shift in crude oil demand premised on the United States shale exploitation and the economic pandemonium generated in the Organization of Petroleum Exporting Countries (OPEC) has re-enacted crude oil pricing as the barometer for global economic trend. Crude oil exploitation, production, transportation and utilisation processes, however adversely impact on marine and coastal habitat. Pollution and infections attributable to toxic substances from crude oil and its derivatives can have long and short term health implications on animals and humans. Crude oil dependence is also contributory to global warming and its complications from climate change. This book examines the environmental and global market impact of crude oil production, analyses attempts to curb inherent challenges through energy efficiency and the development of renewable alternative energy sources.