ABSTRACT
Despite the similarity of oil and natural gas in terms of geology, geographical location, and chemistry, these two fuels have little similarity in their commercial roles and future prospects. Around one-half of the oil produced in the world is traded, but just over 10 percent of world's natural gas production enters the trade; indeed, world trade in gas is only about equal to gas flared. Even in automobiles, compressed natural gas and Liquefied petroleum gases can be used, given some inexpensive conversions. The Algerian battle to get the United States to accept its oil/gas parity prices was unsuccessful, although its ramifications led to some increase in price and also led people to take a new look at natural gas prices. The largest gas-injection program within Organization of Petroleum Exporting Countries (OPEC) is undertaken in Venezuela, followed by Libya, Algeria, and Indonesia. Indeed, Venezuela and Algeria account for nearly two-thirds of OPEC's gas injection programs.
