Abstract
Oil is of immense importance to the modern world economy. The very word conjures up images of wealth and prosperity. The refinement of crude oil provides petrol for our vehicles, fuel oils for heating and industrial applications, kerosene for jet and rocket engines and home heating, and any number of oils and greases for lubrication of machinery. In addition we obtain a host of petrochemicals. The nations with the largest proven oil reserves are some of the richest in the world.