In , U. Consumption of most petroleum products in was lower than in The transportation sector accounts for the largest share of U. Gasoline is the most consumed petroleum product in the United States. In , consumption of finished motor gasoline averaged about 8. Distillate fuel oil is the second most-consumed petroleum product in the United States. Distillate fuel oil includes diesel fuel and heating oil. Diesel fuel is used in the diesel engines of heavy construction equipment, trucks, buses, tractors, boats, trains, some automobiles, and electricity generators.
Heating oil, also called fuel oil, is used in boilers and furnaces for heating homes and buildings, for industrial heating, and for producing electricity in power plants. Total distillate fuel oil consumption in averaged about 3. Hydrocarbon gas liquids HGLs , the third most-used category of petroleum in the United States, include propane, ethane, butane, and other HGLs that are produced at natural gas processing plants and oil refineries.
HGLs have many uses. Total consumption of HGLs in averaged about 3. Jet fuel is the fourth most-used petroleum product in the United States. Jet fuel consumption averaged about 1. Note: Sum of individual products may not equal total because of independent rounding.
Source: U. Diesel contains more energy and power density than gasoline. Aviation fuels: Specialized petroleum-based fuels used to power various types of aircraft for commercial travel and shipping. Crude oils are sent to refineries where they become feedstock. The feedstock is used in petrochemical plants and turned into plastic to make essential products used in our everyday lives. Here are some of the common petroleum products that are an important part of our modern lifestyle.
Due to insulating and heat resistant properties, plastics and other petroleum-based products are used in electronic components. From your speakers and smartphones to your computers, cameras, and televisions, most electronics have components derived from oil.
Clothing is commonly made from petroleum-based fibers including acrylic, rayon, vegan leather, polyester, nylon and spandex. Even shoes and purses use petrochemicals for their lightweight, durable, and water resistant properties. Many common sports equipment contains some petroleum including basketballs, golf balls and bags, football helmets, surfboards, skis, tennis rackets and fishing rods.
Many of our personal care products are derived from petroleum including perfume, hair dye, cosmetics lipstick, makeup, foundation, eyeshadow, mascara, eyeliner , hand lotion, toothpaste, soap , shaving cream, deodorant, panty hose, combs, shampoo, eyeglasses, and contact lenses. Americans consume over 2. But, most of the world doesn't have it as easy as we do. The rich consume 1. Given the importance of oil, this five-fold disadvantage for the poor is indeed a moral issue: oil-dependent Westerners are the ones leading the anti-oil charge.
Our hypocrisy just isn't selling in the developing world, Mr. DiCaprio a must read. Why would it? Poor people wanna be rich too. From , the poor nations are projected to add million new registered vehicles.
After vehicles, the second emerging oil market to watch could be jet fuel. Boeing affirms that commercial aircraft in the world will double to over 40, by , with Asia-Pacific becoming the focal point of aviation.
A key reason why we have seen horrific crashes in Asia recently is demand surging faster than pilot training. Indeed, twinned with electricity, oil is the cornerstone of modernity where more demand indicates higher standards of living. That's because our primary fuel has nowhere near a significant substitute. As such, publicly-traded oil companies are the lone bastion between us and a complete reliance on OPEC. Just as sky-high oil prices can trigger recessions, low oil prices can aid recoveries.
A massive fall in the oil price is like a global tax cut on businesses big and small. If airlines can survive, and the travelling public return, then they could lock in low prices for their biggest single outlay - fuel. Likewise hauliers, florists, supermarkets will all benefit from lower transport costs and more money in their customers' pockets, thanks to lower prices at the pump.
However, there is some evidence that petrol retailers are trying to increase profit margins to compensate for big falls in volume of sales. It is possible that dirt cheap oil can help economies bounce back more quickly and help prevent a recession becoming a depression. However, it's bad news for savers. Oil companies are some of the greatest cash spewing machines on the planet and a lot of that cash goes directly into our pension schemes. BP and Shell between them contribute nearly a fifth of all dividend income generated by UK companies.
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