A Crude Awakening- The Oil Crash

Crude oil awakening - Oil crisis In this article, I will explore why oil collapse is a social problem, keep moving civilizations, keeping a stable economy and thinking of solutions to maintain the natural environment. Sustainability means that we can meet the needs of today's lifestyles and live an appropriate life while at the same time allowing the next generation to do so in their time without compromising It means (Oskamp, ​​p. 496).

In this article I would like to focus on crude oil. It is crashing at the fastest speed at present. Crude oil is very important to the world economy. How much will you pay for the pump? What is the performance of US energy companies? These two problems are superficial problems. This is the three things we want to see right now.

Rising crude oil prices - As I mentioned in this article on April 19, crude oil prices have risen to the highest level since 2014. Given that crude oil is the main raw material for refining, a drastic rise in crude oil price will inevitably lead to a rise in pump price. In the last article, I explained in detail the reasons for the current rise in crude oil price. Summer Mixed Gasoline Requirements - Under the regulations of the Environmental Protection Agency (EPA) aimed at managing and reducing atmospheric ozone, refineries need to manufacture gasoline "winter mixture" and "summer mixture". The transition from winter mixing to summer mixing occurs every spring, and the fact is that summer mixed production is more expensive than winter mixing production.

For the benefit of petroleum distributors, in 2004 the western Canadian producer created a new benchmark crude called Western Canada Select (WCS). The state of Mexican Maya is similar, or Venezuela heavy crude. The API gravity of this heavy oil is 19 to 21, which contains a large amount of bitumen and synthetic crude oil but still flows through the pipeline and is classified as "traditional heavy oil" by the government. This mixture is imported into hundreds of thousands of barrels per day in addition to large amounts of crude oil bitumen and synthetic oil (SCO) from oil sands.