Kumar, Devika Krishna. “EIA Cuts Global Oil Demand Forecast after Coronavirus Outbreak.” Reuters, Thomson Reuters, 11 Feb. 2020, www.reuters.com/article/us-usa-oil-outlook/eia-cuts-global-oil-demand-forecast-after-coronavirus-outbreak-idUSKBN2052B7.

The EIA, or the U.S. Energy Information Administration, reported that the global oil demand was cut by 310,000 barrels per day (bpd). This is because the coronavirus outbreak has stunted consumption in China, which is the world’s 2nd greatest economy. Oil prices have hit the lowest they’ve been in over a year. The EIA also stated that “The cut in global demand growth also reflects warmer-than-normal January temperatures across much of the northern hemisphere.” The rest of the article summarizes future expectations for global oil demand growth.

This relates to environmental science because it details the rise and fall of the global oil demand. Our economy relies on oil, but decreases in the demand for oil are always a win for the environment. The article also mentions that “the cut in global demand growth also reflects warmer-than-normal January temperatures across much of the northern hemisphere,” which I don’t fully understand quite yet. How does a cut in oil demand correlate with higher temperatures?

Stevens, Pippa. “Oil Now a ‘Bigger Problem for Markets than the Coronavirus,’ Analyst Says.” CNBC, CNBC, 8 Mar. 2020, www.cnbc.com/2020/03/08/oil-a-bigger-problem-for-markets-than-the-coronavirus-after-opec-deal-collapse.html.

Oil prices have been dropping significantly due to failure to reach an agreement on production cuts, which brings up concerns on its impact on the “broader economy.” This is because the U.S. economy relies on oil. Many people would be left unemployed without the industry and “highly leveraged oil and gas companies are key to the fixed income market.” Prices for crude oil have dropped over 30% ever since the coronavirus outbreak. The failed agreement means that starting in April (when the current agreement ends), countries have “free rein over how much crude it pumps.”

This relates to environmental science because it brings up an important topic: the U.S. economy’s reliance on crude oil. Crude oil is a nonrenewable resource and because OPEC failed to reach an agreement, nations will be pumping crude oil without enforced regulation starting in April. This is not good for the environment, not only because we are going through petroleum faster than it can renew, but because our reliance on crude oil means consistent burning of fossil fuels. As we have been learning in class all year, burning fossil fuels pollutes the air and fills the atmosphere with greenhouse gases.

“Trump’s Budget Proposes Sale from Emergency Oil Reserve.” Reuters, Thomson Reuters, 10 Feb. 2020, www.reuters.com/article/uk-usa-trump-budget-spr/trumps-budget-proposes-sale-from-emergency-oil-reserve-idUSKBN2042M0.

President Donald Trump released the 2021 budget in early February. This budget suggested a sale of 15 million oil barrels from our emergency reserve in order to raise money to repair the Naval Petroleum Reserve, here in California. While 15 million barrels does sound like a lot, Americans consume approximately 20 million barrels per day. This 15 million barrels will come from an emergency reserve currently holding 635 million barrels of oil. As stated before, this sale would bring in money to fund projects to fix the Naval Petroleum Reserve, which seems to be beneficial in the long run.

This relates to environmental science by bringing up politics and economics, two categories that are a part of environmental science. The article addresses how much oil Americans go through in a day – 20 million barrels – and how our politicians’ main concerns are over money instead of the environment. It also mentions the Naval Petroleum Reserve here in California, and the expenses to fix it. Many lawmakers side with this proposal to sell 15 million barrels of oil, and the article indirectly suggests that using this money to repair the reserve will not be detrimental to the country, because 635 million barrels of oil in our reserve is more than enough for an emergency situation.

Copeland, Mike. “Gas Prices Fall to $1.99 in Waco amid Coronavirus Fears.” WacoTrib.com, 3 Mar. 2020, www.wacotrib.com/news/local/gas-prices-fall-to-in-waco-amid-coronavirus-fears/article_7aa6cf60-2710-5142-84e8-10d836c9fccd.html.

“The travel industry is being hit, as are oil prices and demand.” This article summarizes how COVID-19 resulted in heavy price drops just for regular unleaded gasoline. Economist Ray Perryman explains that “When there is an event that causes uncertainty, markets tend to overreact.” Due to news of COVID-19, citizens are traveling less, which is taking a huge toll on the travel industry, which includes oil. Companies lower their prices in attempt to sell more of their gasoline, that they have plenty of but are struggling to sell amid concerns over coronavirus.

This relates to environmental science because environmental science is a combination of many other sciences, including economics. The article is about economics – specifically how an event like COVID-19 can heavily affect an entire industry. Gas prices are usually increasing due to increased demand and lack of supply (petroleum is a nonrenewable resource). However, in this case, demand has abruptly dropped, which will hopefully result in decreased production as companies hope to make the most profit.

Bomey, N. (2019, September 16). Why the U.S. is less dependent than ever on Saudi oil. Retrieved from https://www.usatoday.com/story/money/2019/09/16/saudi-arabia-oil-attac
k/2341141001/ 

Date: 16 September 2019

Although U.S. oil prices have undoubtedly increased after the Saudi attacks, the U.S. isn’t as dependent on Saudi oil as it was before. In 2018, the United States produced more oil that it imported, producing 18% of the world’s oil compared to Saudi Arabia’s 12%. Because we are more dependent on our own oil production than we are on Saudi Arabia’s, oil prices were able to remain relatively stable. The amount of oil imported from Saudi Arabia in 2018 was an all-time low since tracking began in 1993. However, the U.S. still faced consequences from the attack because of the distribution of the imported oil: California imported the most oil from Saudi Arabia.

I think it’s great that the U.S. wasn’t completely dependent on Saudi Arabian oil at the time of the attacks. If we were, the consequences would have been severe. However, in terms of the environment, I don’t like how countries like the U.S. and Saudi Arabia produce so much oil daily instead of turning to renewable energy sources. Becoming less dependent on Saudi Arabia is a win economically, but doesn’t improve things environmentally. However, I do believe that importing less from Saudi Arabia is a good step to take.

Editor, E., & Charlesmulungi. (2019, October 30). South Sudan and Egypt sign Landmark Oil Cooperation Agreement. Retrieved from https://www.busiweek.com/south-sudan-and-eg
ypt-sign-landmark-oil-cooperation-agreement/ 

Date: 30 October 2019

Egypt and South Sudan signed a Memorandum of Understanding, which discusses cooperation in the field of downstream oil and gas. Daniel Awow Chuang, South Sudan’s Minister of Petroleum, considers increasing population numbers in his vision for oil and gas in the country. Currently, South Sudan produces 178000 barrels per day, with a goal of 250000 in the future. South Sudan will launch its first-ever licensing round in early 2020. Many exploration and production companies have demonstrated interest in the potential of South Sudan’s oil and gas production.

As we already know, fossil fuels are our main source of energy. It is another commonly known fact that fossil fuels are a nonrenewable resource. With this in mind, I think we should focus less on producing more gas and oil. We should instead shift our focus on finding more renewable energy sources. If other countries like South Sudan begin producing oil, we will run out, and time to find better energy sources will be tight.

Spencer Kimball. (2019, September 16). Trump authorizes release of oil from strategic petroleum reserve after Saudi attacks. Retrieved from https://www.cnbc.com/2019/09/15/
trump-says-he-has-authorized-release-of-oil-from-strategic-petroleum-reserve-if-needed-after-saudi-attacks.html 

Date: 15 September 2019

Trump has authorized for our oil reserves to be utilized if needed in order to meet the demands of the market. He has also announced that he told agencies to expedite the approval of oil pipelines that are still in the permitting process. Before the attack, Saudi Arabia produced almost 10 million barrels of oil per day, 600,000 of which were imported by the United States. Aramco, the national oil company of Saudi Arabia, had to cut its oil production in half as a result of the attack, because Saudi Arabia houses the world’s largest oil facility and second-largest oil field. Prices of crude oil have increased by about 11-13%, and although Yemen’s rebels confessed to the attacks, Trump believes that Iran is responsible.

Similar to the first article, this one discusses the Saudi Arabia attack and the increases in oil prices. This is related to environmental science in terms of how the economy is affected by effects on the environment. Because Saudi Arabia’s production was cut in half after the attack, increasing prices was inevitable. However, Trump authorized the release of oil reserves as needed in order to prevent dramatic changes and to meet the demand on the market. This is big news because the United States keeps this oil reserve for emergencies such as this one.

Oil Washes Up on Tourist Beaches in ‘Brazilian Caribbean’. (n.d.). Retrieved from https://www.voanews.com/americas/oil-washes-tourist-beaches-brazilian-caribbean 

Date: 17 October 2019

In Maragogi, Rio de Janeiro, Brazil, crude oil has contaminated a popular tourist beach. This oil has been found along the northeastern coast of Brazil and has affected at least 178 locations in nine different Brazilian states. Dozens of people, including unsupervised volunteers, worked together with rakes and shovels to remove the oil-stained sand. Across the coast, these workers have been given little to no instructions or equipment to clean the beaches. “Just like with the spread of fires in the Amazon, the government again was late to respond,” said Ricardo Baitelo, coordinator of Greenpeace Brazil. Oceanographer David Zee stated that “The more time that passes with new oil appearing, it’s confirmed that the ocean is absorbing ever more toxic substances, some of which are carcinogenic. The contaminated zones will take at least 25 years to recover.”

This is one of the biggest environmental disasters in Brazil ever. This clearly relates to environmental science because these beaches are being contaminated by crude oil. It’s infuriating that authorities were not immediately getting to work to fix this issue. Environmental issues such as this are typically set aside, even though they are extremely important—these contaminated beaches are definitely hazardous and need to be taken care of properly. It is also clear that Brazil has no emergency backup plan of some sort to effectively deal with environmental issues.

Oil prices spike as Trump administration blames Iran for attack on Saudi Arabia. (n.d.). Retrieved from https://www.cbsnews.com/news/oil-prices-rise-saudi-arabia-attack-blamed
-by-us-on-iran-trump-strategic-petroleum-reserve-today-2019-09-16/ 

Date: 16 September 2019

As stated in the title, Trump believes that Iran was responsible for the attack on Saudi Arabian oil facilities. Satellite images of the damage suggest that the attack came from either Iraq or Iran, but some say Yemen. The price of a barrel of Brent Crude has increased by $6 to $66.28 now that the production of almost 6 million barrels daily has halted. The Trump administration is ready to utilize the United States Strategic Petroleum Reserve in order to keep supplies and prices relatively stable. This Saudi disruption was the greatest on record, halting 5.7 million barrels of crude oil per day.

Environmental science is a combination of many topics: in this case, our focus is on economics. As we already know, fossil fuels are a non-renewable resource from the Earth. There is extremely high demand for fossil fuels, as they are our main energy source. This attack on Saudi Arabia’s oil facilities was even predicted to increase gas prices. This article shows how the demand for environmental resources can have great effects on the economy just by attacking one facility.