oil pricegasoline priceoil investmentreal GDP growthStarting in late 2008, the U.S. production of tight oil surged, causing a renaissance in the U.S. oil sector that few industry analysts had anticipated. This tight oil boom reduced the dependence of the United States on petroleum imports and...
Oil extraction has traditionally been a huge source of tax dollars, especially for oil exporters, even when oil was sold at relatively low prices. Anything that replaces oil needs to fill this role as well, because the economy needs energy (and taxes from energy) to operate. This tax revenu...
some nations rely heavily on the extraction and sale ofcrude oil, which can be turned into gasoline and sold to consumers within developed economies. On the other hand, developed nations tend to have a more diverse representation of all sectors. ...
At a refinery the crude oil is separated into many parts. From the refined petroleum we get important things such as gasoline kerosene fertilizer detergents and a lot of other useful things. In fact there are thousands of such things that we can get. Petroleum really is of great value!
processes that were invented to improve the yield of gasoline from crude oil were known as cracking. In this refining process, cracking used heavy hydrocarbon molecules to break up lighter molecules by means of heat, pressure, and catalyst. This process helped advance gasoline to run in the car...
Trains are an essential part of a country's infrastructure, so what does their future look like? The future of train transportation will be dictated by the price and availability of oil, the determination of governments to find alternate modes of travel and the public demand for economical, ...
If it were possible for human beings to digest gasoline, a gallon would contain about 31,000 food calories -- the energy in a gallon of gasoline is equivalent to the energy in about 110 McDonalds hamburgers! Where does gasoline come from? Gasoline is made from crude oil. The crud...
Energy consumption refers to the total amount of energy that is needed for a particular process or activity to get done. This gets measured in kilowatt-hours (kWh). It involves the consumption of gas, oil, diesel, electricity, and biomass. ...
When Can SPR Oil Be Released? To attempt to combat high gasoline prices, the government has released barrels of oil from the SPR. However, as the oil reserve hits its lowest level, this can prove challenging in the future. There are also set rules on the release of oil from the SPR; ...
oil prices, stimulus checks at unprecedented scale, blistering growth in e-commerce, and many more. Then, just as COVID-19 was becoming endemic, Russia invaded Ukraine, delivering another shock to the global economy. The war’s repercuss...