Thesis Statement
Petroleum, commonly known as crude oil, is regarded as the most important fuel in the modern industrial world (Craig et al. 2001). This energy resource influences many political, economic, and environmental decisions around the world. This resource is a naturally occurring liquid hydrocarbon that takes thousands of years to replenish, thus making it a non-renewable resource. Therefore, the continued development of research and technology for greater efficiency of extraction and use of the resource is of the utmost importance. These factors directly affect governmental policy, economic growth, and environmental degradation.