Get the Facts
What is oil? Oil, commonly referred to as petroleum, is a naturally occurring substance made up of a mixture of hydrogen and carbon compounds. Hydrocarbons occur as liquids, gases or solids.
Stable and Dependable Element of the Kansas Economy
Supports approximately 118,000 Kansas jobs.
Supports $3.0 billion in family income in Kansas.
Contributes over $1.4 billion in state and local tax revenue.
Source: Center for Applied Economics at the University of Kansas (O&NG Value Chain Contribution)
When was the first oil well discovered? In August of 1859, at Titusville, Pennsylvania, Col. Edwin Drake drilled the first oil well. The discovery at 69.5 feet in the Oil Creek formation was significant in that in demonstrated the practicality in drilling. Oil was first discovered in Kansas in 1860 in Miami County.
Are we running out of oil? Today, fossil fuels supply nearly 82% of the U.S. energy supply. The U.S. Energy Information Administration (EIA) estimates that 25 years from now fossil fuels will account for 80% of our country’s energy consumption. By 2040, the International Energy Agency (IEA) projects world energy demand will increase by 45% and nearly 60% of that demand will be supplied by oil and natural gas.
How is petroleum used? Oil and natural gas are an integral part of our society enriching and improving lives of peoples and societies around the world. Petroleum is the building block of thousands of products that make our lives more comfortable, safer, cleaner, and healthier. Today, over 6,000 raw products are produced from petroleum and are utilized to create millions of consumer products. People use oil-based products every day whether it is your TV remote, cell phone, or even your toothpaste and toothbrush. In addition, as a key component in heart valves, seat belts, helmets, life vests, medicines, and antibiotics, petroleum is saving tens of thousands of lives daily. The energy we get from oil and natural gas is particularly valuable for protection ourselves from the climate. The climate is always changing whether mankind influences that change or not. In the last 80 years as CO2 emissions have risen from 0.03% to 0.04% climate related deaths have declined by 98%. Clearly, oil and natural gas make our planet dramatically safer.
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Wichita, Kansas 67202