Because of this, many oil fields and gas fields can be found in the southern, eastern and western areas of Trinidad both onshore and offshore and gas fields can be located to west of Tobago and to the north of Trinidad, offshore. Due to the multiple layers AT Impermeable rocks above ten 011 Ana gas, nudge reservoirs AT 011 Ana gas remain stuck extremely far bloodhound. These reservoirs are, at this stage, inaccessible to man. For us to reach these underground resources, oil wells need to be drilled. These wells can be thousands of feet deep and cost millions of U.

S dollars. Unfortunately, not all wells produce oil and gas. In order to obtain oil and gas located deep beneath the ocean floor, far out at sea, production platforms are built. One platform can enable approximately 10-20 wells to be drilled. If oil and gas is found, e utilize pipelines to transport it back to land. This provides many Job opportunities both directly and indirectly. Laborers are needed to build platforms, operate machinery, and coordinate the transport of oil and gas back to land, transport workers via helicopter to platforms etc.

These employment opportunities attract many citizens to areas such as San Fernando and Point Portion. Many oil and petrochemical industries can be found along the west coast of Trinidad in areas such as Point Alias, Point Portion and Pointed a Pierre. In fact, Trinidad only oil refinery, managed by the Petroleum Company of Trinidad and Tobago (PETERING) can be mound in Pointed a Pierre. These industries also serve to attract a labor force to the area as they to provide a wide variety of employment opportunities.

In order for us to benefit and gain revenue from our natural resources, oil is sold to countries around the world. Oil is a major export of Trinidad and Tobago and provides us with millions of dollars in foreign exchange each year. Trinidad and Tobago has many ports located in Port-of Spain, Point Alias, Point-a-Pierre, Point Portion, Goleta, Sarcophagus, Crown Point and Scarborough to facilitate these exports. Trends in the Oil and Gas Industry Table Showing the Trends in the Production of Crude Oil and Natural Gas: Years I Crude Oil Production(barrels of oil per day) I Natural Gas production(earn sq. Pubic Ft. Per day) | 197820052006200720082009 | Discussion: Cost of crude oil per barrel USED $92. 59 * This is considered a high range price and is probably due to the steady decrease in the production of gas as of January 2008. As it is becoming more difficult to find oil and the price is raised to compensate for the machinery because the original amount of gas is not being produced. Cost of natural gas per 1000 square feet USED $3. 68 The cost of natural gas unlike liquid gas is very inexpensive. This may be owed to a great increase in production in the last 10 years.

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As the natural gas is seen less as a rarity the price drops. Generalness In tone an Gas Industry Globalization: Globalization is the bringing together of people from all over the world. It encourages integration and reduces the world to a ‘global village’ * Globalization uses up the finite resources more quickly, this is an adverse effect because the nation would have to result to an alternative resource to fill the gap for the uses of oil and natural gas. Globalization increases the emission of carbon dioxide to the atmosphere increasing air pollution.

Too much of the emissions of these harmful gases can cause health issues among the population. * Globalization transfers Jobs from developed countries to less developed countries. Workers in Trinidad who have the experience in these oil industries are promoted to higher paid Jobs to foreign countries causing us intern to lose out on our human resources affecting an efficient production in the industries. * Globalization encourages the dependence on other countries for goods. Our amount would rely on other countries to purchase from them other resources such as food, technology and many other facilities.

However if the funds from the oil industry are to drop, our dependency upon these funds to buy our foreign products can no longer be. Technology: Technology is the use of scientific knowledge to perform practical purposes. * The introduction of machinery has proven to be useful to our oil industry however such machineries can have adverse effects. It can be harmful because such machinery consumes large quantities of energy in order to operate causing much expense for the company. In addition, repairs that these technological devices require can sometimes be extremely expensive.

It is also costly to have to pay for the education to educate the workers on how to operate these machines. * Human labor will decrease as many would be put out of Jobs because that role will be now filled by the machinery. * Many of these machines allow for the emissions of greenhouse gases which can not only harm workers but the surrounding environment. This encourages pollution. * Workers are at higher risk of being severely injured by these machines especially if they are not properly skilled about its use. Sinology NAS Nellie to Increase ten proactively AT milling 011 Decease being done is now at a faster speed and takes shorter period of time. The Role of the European Union in the Mining of Oil and Gas The European Union: ten work * The EX. was created in the aftermath of the Second World War. The first step was to foster economic cooperation so that countries that trade with one another become economically interdependent and they avoid conflict. The result was the European Economic Community (SEC) created in 1958 and started increasing economic cooperation between six countries (Belgium, Germany, France, Italy, Luxemburg and he Netherlands). The name was then changed to European Union in 1993 due to the evolution of the then European Economic Community. * The E has delivered a half century of peace, stability and prosperity, helped raise living standards, and launched a single European currency, the Euro. * The ‘single or internal’ market is the Ex.’s main economic engine, enabling most of the goods, services, money and people to move freely, thus supporting the export of oil and gas from Trinidad and Tobago. Role of the Caribbean Single Market Economy on the Mining of Oil and Gas in Trinidad and Tobago Objectives of the C.

S. M. E: * To allow full use of labor and full exploitation of the other factors of production (natural resources and capital) * Competitive production leading to greater variety and quantity of products and services to trade with other countries. It is expected that these aims will in turn provide improved standards of living and work and sustained economic development. The C. S. M. E allows for: * Free movement of goods and services through measures such as eliminating all barriers to intra-regional movement and harmonize standards to ensure acceptability of goods and services traded.

Right of Establishment to permit the establishment of CAROM owned businesses in any Member State without restrictions. * A Common External Tariff, a rate of duty applied by all Members of the Market to a product imported from a country which is not a member of the market. As a result AT c s M Ex.’s efforts In trade, Aurelian Ana its oil and gas to countries around the world. Oil and Natural Gas in the Future I ago NAS addle TTY to export Trinidad and Tobago is the Caribbean largest producer of oil and natural gas. In 2002, oil production averaged about 141 ,500 barrels per day.

BP is the nation’s largest oil and gas producer and Petering, the state oil company, is the second largest oil producer. The country’s oil and natural gas reserves are expected to increase significantly in the upcoming years. However, there has been a stronger demand for natural gas and it is expected to surpass oil as the main revenue earner for the country in the near future. The mining of oil and natural gas is not a promised resource for lifetime as it is a non-renewable resource. Its demand is greater than its supply as well as its productivity is increasing every year, rapidly.

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