| | '''Oil''' is a [[viscosity|viscous]] [[liquid]] that is not [[solubility|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.<ref>https://www.macrotrends.net/1369/crude-oil-price-history-chart</ref> | | '''Oil''' is a [[viscosity|viscous]] [[liquid]] that is not [[solubility|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.<ref>https://www.macrotrends.net/1369/crude-oil-price-history-chart</ref> |
| − | On September 23, 2022, oil crude prices fell to a near-low for 2022 of $78.74 a barrel,<ref>https://www.chron.com/business/oil/article/Oil-prices-tumble-below-80-17463104.php</ref> after oil prices had soared for the much of the year due to the [[Russia-Ukraine War]]. This price collapse stoked predictions of a [[recession]]. | + | On September 23, 2022, oil crude prices fell to a near-low for 2022 of $78.74 a barrel,<ref>https://www.chron.com/business/oil/article/Oil-prices-tumble-below-80-17463104.php</ref> after oil prices had soared for much of the year due to the [[Russia-Ukraine War]]. This price collapse stoked predictions of a [[recession]]. |
| | There are two main types of oil. Organic oils are derived from from plants and other types of organic matter, such as [[olive]]s. Mineral oils, such as [[petroleum]], are obtained from geological sources. The latter is not formed by decayed matter, as that contradicts the [[Creationism|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.<ref>[http://www.answersingenesis.org/articles/arj/v1/n1/origin-of-oil Origin of Oil], Answers in Genesis</ref> Consequently, much of the oil is found in the Middle East, in addition to massive deposits in Canada<ref>http://www.rense.com/general37/petrol.htm</ref> and Venezuela.<ref>http://www.opec.org/opec_web/en/data_graphs/330.htm</ref> | | There are two main types of oil. Organic oils are derived from from plants and other types of organic matter, such as [[olive]]s. Mineral oils, such as [[petroleum]], are obtained from geological sources. The latter is not formed by decayed matter, as that contradicts the [[Creationism|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.<ref>[http://www.answersingenesis.org/articles/arj/v1/n1/origin-of-oil Origin of Oil], Answers in Genesis</ref> Consequently, much of the oil is found in the Middle East, in addition to massive deposits in Canada<ref>http://www.rense.com/general37/petrol.htm</ref> and Venezuela.<ref>http://www.opec.org/opec_web/en/data_graphs/330.htm</ref> |