Oil is a viscous liquid that is not soluble in water and which is used for mainly for lubrication and fuel. Oil influences politics, elections, and military conflicts. The price of crude oil in 2022 inflation-adjusted dollars has ranged from $1.17 per barrel in 1946 to a high of $140 per barrel in June 2008. Oil and gas production in the U.S. is expected to decline in the latter part of 2023.
On September 23, 2022, oil crude prices fell to a near-low for 2022 of $78.74 a barrel, after oil prices had soared for much of the year due to the Russia-Ukraine War. This price collapse stoked predictions of a recession.
In early October 2022, "Oil prices have fallen to roughly $80 a barrel from more than $120 in early June amid growing fears about the prospect of a global economic recession."
There are two main types of oil. Organic oils are derived from from plants and other types of organic matter, such as olives. Mineral oils, such as petroleum, are obtained from geological sources. The latter is not formed by decayed matter, as that contradicts the Creationist worldview, but instead during a theobaric process. This oil existed in pristine state before the Flood, and moved during the Flood into the reservoirs where Noah emerged from the Ark, and where we now find it. Consequently, much of the oil is found in the Middle East, in addition to massive deposits in Canada and Venezuela.
Uses of oil include the following:
- Heating, by burning the oil
- Illumination, in oil lamps
- Generation of electricity, by burning the oil to turn water to steam used to run generators
- Manufacture of perfumes
- Cooking, to add flavor, and to improve heat transfer
Where does Oil Come From?
According to a Young Earth Creationist model, a theobaric process produced the oil supply. During the Creation Week, God created a mature earth, and in the Garden of Eden, everything was ready for its first occupants. There must have been mature plants and trees to supply food for immediate consumption, and oil for various uses (e.g., anointing, lubrication - see oil#uses). It remained relatively undisturbed until the Noachian Flood.
This oil, created in deep primordial repositories during the Creation Week migrated upwards into present-day reservoirs during the Noachian Flood. During the Flood, intense geological activity occurred whilst the “fountains of the great deep” described in Genesis were active, though after day 150 of the Flood God said that the fountains were closed, so we would expect a sharp cut-off in hydraulic activity. During the Flood, the primordial repositories containing the hydrocarbons will have been breached and fluids released.
Oil in the Bible
Oil, probably usually referring to olive oil, appears over two hundred times in the Bible.
- Oil, particularly olive oil, is used in drink offerings to God, but not in sin offerings.
- Oil is used for anointing the priests of God by pouring it on their heads. This sanctifies them and makes them holy. It was also used for anointing the kings of Israel.
- Oil is used for lighting lamps.
- In a miracle, Elisha caused a poor widow's little bit of oil to be enough to fill all her jars, and her neighbor's jars, with oil that she could sell it to pay her debts.
- How The Gas Prices Are Manipulated By The Koch Brothers And Other Wall Street Players.
- Cramer: How Oil Prices Are Manipulated.
- Mysterious Hidden Hand That Manipulates the Crude Oil Price.
- A tough-oil world: Why twenty-first century oil will break the bank - and the planet
- Origin of Oil, Answers in Genesis
- Origin of Oil, Answers in Genesis
- Genesis 28:18 , Genesis 35:14 , Leviticus 2 , Leviticus 14 , Numbers 7
- Exodus 29:2,7,21 , Exodus 30:25 , Leviticus 8
- I_Samuel 10:1 , I_Kings 1:39
- Exodus 27:20
- II_Kings 4:1-7