Economic Significance
Passive margins are important reservoirs of petroleum. Mann et al. (2001) classified 592 giant oil fields into six basin and tectonic-setting categories, and noted that continental passive margins account for 31% of giants. Continental rifts (which are likely to evolve into passive margins with time) contain another 30% of the world's giant oil fields. Basins associated with collision zones and subduction zones are where most of the remaining giant oil fields are found.
Passive margins are petroleum storehouses because these are associated with favorable conditions for accumulation and maturation of organic matter. Early continental rifting conditions led to the development of anoxic basins, large sediment and organic flux, and the preservation of organic matter that led to oil and gas deposits. Crude oil will form from these deposits. These are the localities in which petroleum resources are most profitable and productive. Productive fields are found in passive margins around the globe, including the Gulf of Mexico, western Scandinavia, and Western Australia.
Read more about this topic: Passive Margin
Famous quotes containing the words economic and/or significance:
“When you overpay small people you frighten them. They know that their merits or activities entitle them to no such sums as they are receiving. As a result their boss soars out of economic into magic significance. He becomes a source of blessings rather than wages. Criticism is sacrilege, doubt is heresy.”
—Ben Hecht (1893–1964)
“Of what significance the light of day, if it is not the reflection of an inward dawn?—to what purpose is the veil of night withdrawn, if the morning reveals nothing to the soul? It is merely garish and glaring.”
—Henry David Thoreau (1817–1862)