Technological Change, Depletion and the U.S. Petroleum Industry*** A common claim in the nonrenewable resource literature is that improvements in technology may largely offset the effects of increasing scarcity over time. This study provides perhaps the first empirical evidence on this issue by analyzing the determinants of the average finding cost for additional petroleum in the U.S. over the ...

Petroleum products bought and sold on the world wide market may be transported over thousands of miles and change ownership many times from the well head to the end user. Each time the product changes ownership, a “custody transfer” is completed and both buyer and seller expect their asset share to be accurately measured. The dynamic measurement provided by meters is a convenient and accurate m...

Used motor oils (UMO) are a remarkable commodity arousing interest of each new generation of researchers. UMO also include used gear oils, but their degree of use is much lower. The primary role of motor oil is to reduce friction and prevent corrosion. It also serves to dissipate heat and hold in suspension by-products of engine wear, combustion and degradation products. Motor oil originates fr...

Petroleum products are highly complex chemical mixtures consisting predominantly of hydrocarbons. Their composition varies with source and intended use of the product. Virtually all are blended products that come into contact with man in a wide range of circumstances. Their toxicity for man is generally low and the use of additives rarely affects the toxicity of the final product. Because produ...

The plants, grown in the soils around a Fuel Holding Depot of the Nigerian National Petroleum Corporation, Ibadan, Oyo state, Nigeria have been investigated in this research in terms of their density and species composition so that the impact of contamination by petroleum products on soil seed banks could be determined. The study has used designated plots (25m by 25m) in a site, contaminated by...

Rockets and Feathers? Petroleum Product Price Movements “Shooting up like a rocket, drifting downward like a feather in the wind,” or so goes the perception of petroleum product prices. This became the focus of public attention world over in 2008, when the international price of oil surged in the first six months, only to fall dramatically to a third of its peak value in the following five mont...

Petroleum-based products are the major source of energy for industry and daily life. Petroleum is also the raw material for many chemical products such as plastics, paints, and cosmetics. The transport of petroleum across the world is frequent, and the amounts of petroleum stocks in developed countries are enormous. Consequently, the potential for oil spills is significant, and research on the ...