How America Makes Up Its Oil Shortfall

The video discusses the impact of oil prices on drilling projects, highlighting how low prices previously halted major projects. It explains the advancements in directional drilling and fracturing that have enabled oil production from dense rocks at lower costs. Chevron's production and employment statistics are provided, along with a comparison of US oil production and consumption. The US imports oil mainly from Canada, and the video touches on the Keystone Pipeline and other transportation methods.

What technological advancement has allowed for oil production in previously unproductive areas?

• Vertical drilling

• Directional drilling and fracturing

• Seismic surveying

• Offshore drilling

How many employees does Chevron have worldwide?

• 50,000

• 36,000

• 25,000

• 40,000

What percentage of US oil production is contributed by Chevron?

• 10%

• 15%

• 25%

• Less than 10%

How many million barrels of oil does the United States consume daily?

• 15 million

• 10 million

• 12 million

• 20 million

Which country is the largest supplier of oil to the United States?

• Canada

• Mexico

• Saudi Arabia

• Venezuela