After a hundred years of refining oil, there is still room for improvement. We need to find better ways to make oil into liquid fuel. We also need to find better ways to make it into finished products to sell them on.
Petroleum has made tremendous progress in the last century. It’s gotten cleaner and has become more profitable. We should be doing all we can to make sure that we continue to make progress in this area.
If we can’t make petroleum more useful, then we’re going to have major trouble. It’s a very complex subject, and there’s a lot of misinformation about it. We need to start with the basics.
I think there’s a lot of misinformation in the petroleum business. There is a lot of debate as to which of the many different methods of refining oil is the best and most efficient. There are a lot of things that could be improved, a lot of things that could be done to make the process more efficient. Some of those things are going to have to be done by each country and company that is involved, but there are also some things that can’t be done by each country and company.
When we talk about the economics of petroleum refining, it basically boils down to the amount of energy you can extract from the oil. That energy is in the form of heat, because the oil is actually being heated. That is the raw material. The next step is to refine it into a product that is usable by humans. That requires the refining of the oil into a product that is suitable for humans to consume. That is how you make oil that is useful to us.
In terms of pricing, it’s a bit harder to say how much of the energy you can extract from oil, but at the end of the day, you’re still extracting energy. The difference between oil that is worth $100 a barrel and oil that is worth $250 a barrel is the amount of energy you can extract from it.
But the price of oil is determined by how much energy you can extract from it. The energy is in the molecule, not a unit of energy. There is nothing we can do to change the energy. It is what it is.
In the end, the oil you extract it from will be spent on the sea. The cost of oil is the amount of energy you can extract from it, not the price you’ll get when you purchase it.
So what does that all mean for our energy costs? Well, that a barrel of oil is worth a lot of energy in the first place because oil is a good conductor of electricity. A good conductor of electricity will pull more energy out of the ground than a bad conductor of electricity. This means that the amount of energy you can extract from a barrel of oil determines the price of oil.
So if you buy a used car with a $50,000 price, you can be sure that the car will also get you more energy than you put into it. Car companies do it this way to keep their costs low. But, as you know from previous chapters, a new car is not a good fit for our lifestyle.