Fossil fuels like oil, gas and coal are among the most crucial natural resources used by people on a daily basis. All such fossil fuels are hydrocarbons, meaning that they essentially are compounds formed from only two elements, hydrogen and carbon. The fossil fuel industry is extremely expansive, and employs numerous individuals around the world. Paul Favret himself has been a part of the oil and gas industry for years.

Fossil fuels are basically used to produce energy. At home, they can be used to produce heat, while in large power stations they might be used to produce electricity. Fossil fuels are also used to power engines. The bond between carbon and hydrogen atoms store energy. Burning the compounds in the presence of oxygen breaks the bond, and the stored energy is converted to heat energy. Fossil fuels are non-renewable. This basically means that their supply is limited, and they shall run out eventually. These fuels are formed due to the decomposition of animals and plants from millions of years ago, and therefore are referred to as fossil fuels.

Gas and oil used by people today were formed by the decay of microscopic animals and plants that lived in the ocean millions of years back. These animals and plants fell to the bottom of the ocean after dying, and formed layer after layer of sediment covered by mud and sand. In a few regions where there are very little tidal movements, such as seas or lakes, animals and plants start to decay in the absence of oxygen. The sediment is pushed further down as the layers build up and their weight increases. This also elevates the pressure and temperature. All these factors combined result in the formation of oil and gas deposits. In most cases, these deposits are trapped under impermeable layers of rock and have to be drilled. Natural gas, on the other hand, majorly comprises of Methane (CH4) but can also contain distinctive other gases like Propane and Butane.

An energy source has to undergo multiple steps before it becomes useful, such as exploration, extraction, processing, and refining. Paul Favret is particularly renowned for issuing eight US patents for various upstream oil and gas exploration approaches. As a former CEO and founder of Resource Energy, he additionally accumulated about 115,000 acres successfully and an interest in more than 384 additional wells through prior business purchases.

Paul was majorly linked with the oil and gas exploration process, which involved studying areas and their rocks for the purpose of determining if deposits or wells are likely to occur. Once the source is located, then extraction processes are undertaken. The oil that is pumped from the earth is extracted in the form of crude oil, and has to be sent to a refinery where the various mixtures of fuels are separated with the help of a process called fractional distillation. Oil is separated into its various components like diesel, petrol, kerosene and so on.