Economics of the Fuel Industry

Economics of the Fuel Industry Julie Ness 5/16/2009 University of Phoenix Since the beginning of the political machine era, gasoline has been use to run these vehicles. As time has passed new(prenominal) machines have been built that require gasoline of some event to run them. Whether the fuel type is regular, unleaded, or diesel, most of the machines in motion today rely on gasoline. Personal vehicles much(prenominal) as sedans, mini vans, compacts and motorcycles started out using regular gasoline, but as time has progressed, and the technology that is being built into the newer vehicles has progressed, these vehicles straightaway use unleaded gasoline. And there are the bigger vehicles such as the limousines and semi trailer trucks which use diesel. The linked States uses 25.5 share of the worlds fuel, with Asia using the most at 26.9 percent. The economic system has changed drastically over the years, sometimes a positive change, in general a negative change, and the supply and demand for gasoline has duck soup the prices through the roof. Gasoline or fuel is a byproduct of rock oil colour oil and is the largest source of energy in the United States, with coal and natural gas being the runner up.

separate byproducts of crude oil include gasoline, aviation fuels, and kerosene which block fuel, and other items like wax, solvents, road oil, lubricants and asphalt. The fuel industry starts with the exploration of crude oil within the earths core, filiation of the crude oil, transporting the crude oil to different refineries, refining of the crude oil for different uses, and lastly the marketing of the refined oil. ane of the end means for the oil is fuel for vehicles, machinery, airplanes and ocean vessels. turn up of all the oil shipped to the United States, roughly 40% is used for energy consumption. The United States has the most sophisticated producers of refined oil color products in the world. By the end of 2008, the United States had 155 oil refineries nationwide, with the majority of them in California,... If you want to get a replete(p) essay, order it on our website: Orderessay

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