Are Form 8865 Petroleum 2024

We used to think that in the future we'd all be zooming around in flying cars that run on flowers and smiles. Well, this is the future and oil is still the lifeblood of the modern world. The world's roads are packed with 800 million greedy vehicles guzzling their way through 7 billion liters of petrol. Keeping the fuel lines flowing safely with this flammable liquid demands a potent mix of engineering brilliance, chemical wizardry, and mucky manual labor. So, how do they do it? Texas, USA. From the look of this hot, barren, windswept landscape, you'd be forgiven for assuming this area must be a rural backwater. But in fact, this is one of the richest spots in the world because Texas is home to the American oil industry. Music They've been drilling for oil here since 1894, but it wasn't until 1901 that the oil boom really took off when, at a stroke, the Lukas gusher tripled US oil production. Since then, almost sixty billion barrels have been pumped out from the Texan soil, and if the oil companies have got their sums right, there are reserves of another ten billion barrels or so still to be extracted. The sticky, smelly black liquid they're after is crude oil, which is the raw material needed for making petrol. It was formed from the remains of tiny sea plants and animals during the Permian period. Thanks to the action of heat and pressure, 250 million years later, they've been transformed into one of the world's most vital energy sources. This is black gold, Texas tea. The best there is. It smells like rotten eggs, but it also smells like money. On this hot, sticky Texas morning, the crew of Derek Riggs 62 is setting to work sinking a new well. Every month, more...