Petroleum Products Quotes

This whole world was a processed petroleum product.

Control over the production and distribution of oil is the decisive factor in defining who rules whom in the Middle East.

Set yourself to becoming the best-informed person in the agency on the account to which you are assigned. If, for example, it is a gasoline account, read books on oil geology and the production of petroleum products. Read the trade journals in the field. Spend Saturday mornings in service stations, talking to motorists. Visit your client’s refineries and research laboratories. At the end of your first year, you will know more about the oil business than your boss, and be ready to succeed him. Most

In my opinion, if there is one extremely legitimate use for petroleum besides running wood chippers and front-end loaders to handle compost, it's making plastic for season extension. It parks many of the trucks [for cross-country produce transportation]. With the trucks parked, greenhouses, tall tunnels, and more seasonal, localized eating, can we feed ourselves? We still have to answer that burning question.

The humanoids told Don that if he went home with a whore, she would cook him a meal of petroleum and coal products at fancy prices. And then, while he ate them, she would talk dirty about how fresh and full of natural juices the food was, even though the food was fake.

Of what was plastic made? What died? He knew it was a product of petroleum, of oil, and so he assumed plastic was made out of the very lifeblood of the planet. When all the oil was drained, he imagined the planet quaking and shrinking in on itself, like a squeezed orange that has been sucked to death. He

In August 1946, exactly one year after the end of World War II, a tanker sailed into the port of Philadelphia laden with 115,000 barrels of oil for delivery to a local refinery. The cargo, loaded a month earlier in Kuwait, was described at the time as the first significant “shipment of Middle East oil to the United States.” Two years later, Saudi oil was imported for the first time, in order, said the U.S. buyer, “to meet the demand for petroleum products in the United States.”1 That year—1948—marked an historic turning point. The United States had not only been a net exporter of oil, but for many years the world’s largest exporter, by far. Six out of every seven barrels of oil used by the Allies during World War II came from the United States. But now the country was becoming a net importer of oil. By the late 1940s, with a postwar economic boom and car-dependent suburbs spreading out, domestic oil consumption was outrunning domestic supplies.

But it turned out that fear was the true terrorism, perpetrated by a political system that was increasingly willing to use practically any justification to authorize the use of force. American politicians weren’t as afraid of terror as they were of seeming weak, or of being disloyal to their party, or of being disloyal to their campaign donors, who had ample appetites for government contracts and petroleum products from the Middle East.

Toxic pheromone pollution. How can we combat that?” Charles Groh and I looked at each other. This was it. We’d finally arrived at the hard part. What had to be done. “The first step,” I said, “would be removing the factors that are causing the environmental disturbance.” “Remove petroleum products?” said the president. “And cell phones?” said the secretary of state. I nodded at both of them, then looked out at the faces around the table and on the screens.

Until the first petroleum well was drilled in Pennsylvania in 1859, whale oil *was* oil. In Leviathan, a fine history of whaling, Eric Jay Dolin enumerates whale Phil's manifold applications: 'It was used in the production of soap, textiles, leather, paints, and varnishes, and it lubricated the tools and machines that drove the Industrial Revolution.' In fact, its use as a lubricant impervious to extremes in temperature persisted well into the space age -- NASA lubed its moon landers and other remotely operated vehicles with sperm whale oil until the International Whaling Commission banned commercial whaling in 1986.

Yet oil had already become so essential to modern life that in 1873 the Titusville Morning Herald proclaimed: "The production of petroleum has now become of such commercial and social importance to the world that if it were suddenly to cease no other known substance could supply its place, and such an event could not be looked upon in any other light than of a widespread calamity.

I would have thought your Hegemony was far beyond a petroleum economy.” I laughed and locked the wheel in. “Nobody gets beyond a petroleum economy. Not while there’s petroleum there. We don’t burn it, if that’s what you mean. But it’s still essential for the production of plastics, synthetics, food base, and keroids. Two hundred billion people use a lot of plastic.” “And Maui-Covenant has oil?

All human creativity is an echo of God’s creativity. When God makes man, he forms him in the dirt, breathes life into him, and sends him out in the world. We’ve been playing in the dirt ever since. Just as God took something he’d made, shaped it, breathed life and meaning into it, and transformed it into something new, so we set about our own business, taking creation, shaping it, and giving it new meaning and purpose. Clay becomes sculpture. Trees become houses. Sounds are arranged in time to become music. Oils, pigments, and canvas are arranged to become paintings. Various metals, glass, and petroleum products become iPhones. The same is true of stories. There is nothing new under the sun, and our stories—no matter how fresh and new they might feel—are all a way of “playing in the dirt,” wrestling with creation, reimagining it, working with it, and making it new. Our stories have a way of fitting into the bigger story of redemption that overshadows all of life and all of history. Because that bigger story is the dirt box in which all the other stories play.

The age of centralized, command-and-control, extraction-resource-based energy sources (oil, gas, coal and nuclear) will not end because we run out of petroleum, natural gas, coal, or uranium. It will end because these energy sources, the business models they employ, and the products that sustain them will be disrupted by superior technologies, product architectures, and business models. Compelling new technologies such as solar, wind, electric vehicles, and autonomous (self-driving) cars will disrupt and sweep away the energy industry as we know it.

But her no leather - no fur policy drew fire. Critics charged that faux hides, many of which are petroleum based, were more damaging to the earth than the real stuff. Bull, said McCartney. "Livestock production is one of the major causes of ... global warming, land degradation, air and water pollution, and loss of biodiversity", she shot back, with more than fifty million animals farme and slaughtered each year just to make handbags and shoes. Conventional leather tanning employs heavy metals such as chromium, which results in waste that is toxic to humans.

Take a simple pocket pen, so cheap that they are given away as advertising. Back of it lie several sorts of chemists, metallurgists, synthetic polymer experts, mechanical engineers, extrusion presses, computer programmers, computers, computer technicians, toolmakers, electrical engineers, a planet-wide petroleum industry, five or more sorts of mines with mining engineers, geologists, miners, railroads, steamships, production engineers, management specialists, merchandizing psychologists—et cetera to a splitting headache. It is impossible even to list the myriad special skills that underlie even the most trivial trade item of our enormously complex and interdependent industrial web.

The fickle-fingers affair Another missed opportunity is known in hand lotion circles as “the fickle-fingers affair.” The story starts with Jergens, the No. 1 brand with the dominant share of market. First, the company introduced Jergens Extra Dry, a creamlike product in an era of liquidlike lotions. Jergens Extra Dry was really a significant innovation smothered by the similarity of names. The prospect didn’t recognize the difference. But the competition did. Chesebrough-Pond’s introduced Intensive Care. Now for the first time, the new creamlike lotion had a name which positioned the product clearly in the consumer’s mind. And the product took off. Of course, when Jergens realized what was happening, they countered with a brand called Direct Aid. But it was the old story of too little and too late because the marketing victory went to Intensive Care. Today Intensive Care is the No. 1 brand. It outsells Jergens, Jergens Extra Dry, and Direct Aid combined. But isn’t the brand really called “Vaseline Intensive Care,” a line-extended name? True, but customers call the product Intensive Care, not Vaseline. In the mind of the prospect Vaseline is petroleum jelly; Intensive Care is a hand lotion.

How do you commit the perfect crime in science? We’re handicapped from the start because it’s a question we never ask. For more than thirty years, Frank taught me and many others to record our data accurately, compare them with collaborators around the world, discard the outliers, and come to a consensus. We understand there are variations, but if the bulk of the evidence goes in a certain direction, we are confident we have a better understanding of human biological processes. If only that were what happened in the real world. In the real world there are corporations, be they pharmaceutical, agricultural, petroleum, or chemical companies, that have billions of dollars at stake in the work of scientists. If one has billions of dollars, he can use the dark arts of persuasion to hire public relations firms to tout your products, sow the seeds of doubt about those who question your products, buy advertising on news networks so they don’t publicize negative stories unless they have no other choice, and donate to politicians of all ideologies. Then, once those politicians have been elected, they can write laws for the benefit of their generous donors. As it was put so eloquently in the seventeenth century by a prominent member of Queen Elizabeth’s court, “If it prospers, none dare call it treason.

What do human beings contribute, Suwelo was thinking morosely, as he waited one afternoon for Miss Lissie to appear. Her story about the animal cousins had moved him and each day he found himself more conscious of his own nonhuman “relatives” in the world. The bees contributed honey, but not really—it was taken from them. What, he now wondered, did the bees eat themselves; surely they didn’t make honey for human beings. It was the flowers that contributed honey to both bees and people, the flowers that were always giving something: beauty, cheerfulness, pollen, and seeds. They did not care who saw them, who, they gave to. And on his feet, Suwelo also realized, with disgust, he was wearing moccasins made of leather. What a euphemism, “leather.” A real nonword. Nowhere in it was concealed the truth of what leather was. Something’s skin. And his tortoiseshell glasses. He took them off and peered shortsightedly at them, holding them at arm’s length. But they were imitation tortoiseshell. Plastic, probably. But this made him even gloomier, for he knew the only reason for imitation anything was that the source of the real thing had dried up. There were probably no more tortoises left to kill. And what, anyway, of plastic? It was plentiful, cheap. But even it came from somewhere. Of what was plastic made? What died? He knew it was a product of petroleum, of oil, and so he assumed plastic was made out of the very lifeblood of the planet. When all the oil was drained, he imagined the planet quaking and shrinking in on itself, like an orange that has been sucked to death.

We began the show by asking: Who did more for the world, Michael Milken or Mother Teresa? This seems like a no-brainer. Milken is the greedy junk-bond king. One year, his firm paid him $550 million. Then he went to jail for breaking securities laws. Mother Teresa is the nun who spent her lifetime helping the poor and died without a penny. Her good deeds live on even after her death; several thousand sisters now continue the charities she began. At first glance, of course Mother Teresa did more for the world. But it's not so simple. Milken's selfish pursuit of profit helped a lot of people, too. Think about it: By pioneering a new way for companies to raise money, Milken created millions of jobs. The ignorant media sneered at 'junk bonds', but Milken's innovative use of them meant exciting new ideas flourished. We now make calls on a national cellular network established by a company called McCaw Cellular, which Milken financed. And our calls are cheaper because Milken's junk bonds financed MCI. CEO Bill McGowan simply couldn't get the money anywhere else. Without Milken, MCI wouldn't have grown from 11 to 50,000 employees. CNN's 24-hour news and Ted Turner's other left-wing ventures were made possible by Milken's 'junk'. The world's biggest toy company, Mattel, the cosmetics company Revlon, and the supermarket giant Safeway were among many rescued from bankruptcy by Milken's junk bonds. He financed more than 3,000 companies, including what are now Barnes & Noble, AOL Time Warner, Comcast, Mellon Bank, Occidental Petroleum, Jeep Eagle, Calvin Klein, Hasbro, Days Inn, 7-Eleven, and Computer Associates. Millions of people have productive employment today because of Michael Milken. (Millions of jobs is hard to believe, and when 'Greed' aired, I just said he created thousands of jobs; but later I met Milken, and he was annoyed with me because he claimed he'd created millions of jobs. I asked him to document that, to name the companies and the jobs, and he did.)

Manhattan Prep started out as one lone tutor in a Starbucks coffee shop. Less than ten years later, it was a leading national education and publishing business that employed over one hundred people and was acquired by a public company for millions of dollars. How did that happen? We delivered a service that customers liked more than what was otherwise available. They sought us out and rewarded us with their business. We hired more people, grew, and kept improving. This process—a new company filling a need and flourishing as a result—is an example of value creation. It’s the fuel of economic growth, and what our country has been seeking a formula for. It’s the process that leads to new businesses and jobs. Value creation has a polar opposite: rent-seeking. In the 1980s, economists began noticing that countries with ample natural resources experienced lower economic growth rates than others. From 1965 to 1998 in the OPEC (oil-producing) countries, gross domestic product per capita decreased on average by 1.3 percent, while in the rest of the developed world, per capita growth increased by 2.2 percent (for an overall difference of 3.5 percent). This was a surprise—if you had lots of oil in the ground, wouldn’t that give you more wealth to invest and thus spur more rapid growth? Economists cited a number of factors to explain this “resource curse,” including internal and external conflict, corruption, lower monitoring of government, lack of diversification, and being subject to higher price volatility. One other possible explanation on offer was that a country’s smart people will wind up going to work in whatever industry is throwing off money (like the oil industry in Saudi Arabia). Thus fewer talented people are innovating in other industries, dragging down the growth rate over time. This makes sense—it’s a lot easier for a gifted Saudi to plug into the Ministry of Petroleum and Mineral Resources and extract economic value than to come up with a new business or industry. Does this sort of thing happen in the United States? Yes, you can make money through rent-seeking as opposed to value or wealth creation.

if consumption by the one billion people in the developed countries declined, it is certainly nowhere close to doing so where the other six billion of us are concerned. If the rest of the world bought cars and trucks at the same per capita rate as in the United States, the world’s population of cars and trucks would be 5.5 billion. The production of global warming pollution and the consumption of oil would increase dramatically over and above today’s unsustainable levels. With the increasing population and rising living standards in developing countries, the pressure on resource constraints will continue, even as robosourcing and outsourcing reduce macroeconomic demand in developed countries. Around the same time that The Limits to Growth was published, peak oil production was passed in the United States. Years earlier, a respected geologist named M. King Hubbert collected voluminous data on oil production in the United States and calculated that an immutable peak would be reached shortly after 1970. Although his predictions were widely dismissed, peak production did occur exactly when he predicted it would. Exploration, drilling, and recovery technologies have since advanced significantly and U.S. oil production may soon edge back slightly above the 1970 peak, but the new supplies are far more expensive. The balance of geopolitical power shifted slightly after the 1970 milestone. Less than a year after peak oil production in the U.S., the Organization of Petroleum Exporting Countries (OPEC) began to flex its muscles, and two years later, in the fall of 1973, the Arab members of OPEC implemented the first oil embargo. Since those tumultuous years when peak oil was reached in the United States, energy consumption worldwide has doubled, and the growth rates in China and other emerging markets portend further significant increases. Although the use of coal is declining in the U.S., and coal-fired generating plants are being phased out in many other developed countries as well, China’s coal imports have already increased 60-fold over the past decade—and will double again by 2015. The burning of coal in much of the rest of the developing world has also continued to increase significantly. According to the International Energy Agency, developing and emerging markets will account for all of the net global increase in both coal and oil consumption through the next two decades. The prediction of global peak oil is fraught with

Leveraging the same technology, unconventional “light tight oil” production is growing at an even faster rate than shale gas. The United States is now producing more than 2 million barrels a day and adding 75,000 barrels per day to production each month. This is on top of the 6 million barrels per day of current oil production. The United States is on a path potentially to pass Saudi Arabia as the world’s largest oil producer within a decade and is now exporting refined petroleum products for the first time since World War II. Rather than import natural gas, the United States is on pace to export 10 billion cubic feet each day—at a value of some $15 billion a year. On

even as looters were carrying off many of Iraq’s priceless antiquities from museums designed to commemorate the “cradle of civilization,” only one government building was protected by American troops: the petroleum ministry. In 2007, even as Iraq was disintegrating into sectarian violence, the Bush administration was carefully crafting legal documents—while the United States was still the occupying power—guaranteeing preferential access to the enormous profits expected from production of Iraq’s vast oil reserves for ExxonMobil, Chevron, BP, and Shell.

Many bills proposing a national energy program that made use of America’s vast agricultural resources for fuel production were killed by smear campaigns launched by vested petroleum interests. The oil companies had a monopoly over the automobile industry, and creating a new fuel would be a threat to their power. Due to the threat ethanol fuel posed to major oil companies, production was shut down and the idea of using ethanol as fuel became a thing of the past, another example of how the greed of power and profit has limited our potential.

This time around, I believe Exxon's focus will be on crude- and liquids-focused U.S. shale players that have very deep assets that would yield decades of production growth. The list for players like this is actually quite short and includes Anadarko Petroleum (APC), Hess (HES), Continental Resources (CLR), and perhaps a few others. But no matter who the ultimate target is, I'd much rather bet on the company with the money, patience, and long-term outlook to benefit from a buyout of a major shale player than try to guess at the company that is going to get bought. In this, I still find Exxon-Mobil to be the best long-term play among the majors for taking advantage of the shale bust—and ultimate next boom.

The sun set. The car smelled of its owner’s cigarette smoke. Everything was toxic and chemical and unnatural: the plastic walnut trim, the electric lights, the burning gasoline that was shoving them forward. This whole world was a processed petroleum product.

Everything around you is touched by oil. Plastics are petroleum products. Foodstuffs and transportation of the foodstuffs, and everything else, are dependent on oil, and, ridiculously, our nation is dependent on foreign oil. Many Americans don’t realize that our government, unlike other countries’ governments, prohibits the sale of our domestic oil on the open market. That outdated export ban needs to end. Also needing to end is the bureaucratic prohibition on drilling for our own safe, reliable energy sources. Alaskans have been fighting for the right to drill on our state’s northern shore for decades. The vast majority see the government’s refusal to permit exploration and drilling as a nonsensical federal overreach. Tapping a tiny portion of the Arctic National Wildlife Refuge (ANWR)—two thousand acres out of nineteen million uninhabited, frozen acres—would give us access to billions of barrels of oil that can be safely extracted and give a huge boost to our economy and energy independence. Oil in the ground is useless. Oil in the hands of American entrepreneurs and job creators means new products, lower prices, and improved national security.

For the first time the Balochistan government will get an amount of $500,000 as production bonus from a petroleum exploration and production (E&P) company under social welfare obligation for development of local communities.

The new GST: A halfway house In spite of all the favourable features of the GST, it introduces the anomaly of having an origin-based tax on interstate trade he proposed GST would be a single levy. 1141 words From a roadblock during the UPA regime, the incessant efforts of the BJP government have finally paved way for the introduction of the goods and services tax (GST). This would, no doubt, be a major reform in the existing indirect tax system of the country. With a view to introducing the GST, Union finance minister Arun Jaitley has introduced the Constitution (122nd Amendment) Bill 2014 in Parliament. The new tax would be implemented from April 1, 2016. Both the government and the taxpayers will have enough time to understand the implications of the new tax and its administrative nuances. Unlike the 119th Amendment Bill, which lapsed with the dissolution of the previous Lok Sabha, the new Bill will hopefully see the light of the day as it takes into account the objections of the state governments regarding buoyancy of the tax and the autonomy of the states. It proposes setting up of the GST Council, which will be a joint forum of the Centre and the states. This council would function under the chairmanship of the Union finance minister with all the state finance ministers as its members. It will make recommendations to the Union and the states on the taxes, cesses and surcharges levied by the Union, the states and the local bodies, which may be subsumed in the GST; the rates including floor rates with bands of goods and services tax; any special rate or rates for a specified period to raise additional resources during any natural calamity or disaster etc. However, all the recommendations will have to be supported by not less than three-fourth of the weighted votes—the Centre having one-third votes and the states having two-third votes. Thus, no change can be implemented without the consent of both the Centre and the states. The proposed GST would be a single levy. It would aim at creating an integrated national market for goods and services by replacing the plethora of indirect taxes levied by the Centre and the states. While central taxes to be subsumed include central excise duty (CenVAT), additional excise duties, service tax, additional customs duty (CVD) and special additional duty of customs (SAD), the state taxes that fall in this category include VAT/sales tax, entertainment tax, octroi, entry tax, purchase tax and luxury tax. Therefore, all taxes on goods and services, except alcoholic liquor for human consumption, will be brought under the purview of the GST. Irrespective of whether we currently levy GST on these items or not, it is important to bring these items under the Constitution Amendment Bill because the exclusion of these items from the GST does not provide any flexibility to levy GST on these items in the future. Any change in the future would then require another Constitutional Amendment. From a futuristic approach, it is prudent not to confine the scope of the tax under the bindings of the Constitution. The Constitution should demarcate the broad areas of taxing powers as has been the case with sales tax and Union excise duty in the past. Currently, the rationale of exclusion of these commodities from the purview of the GST is solely based on revenue considerations. No other considerations of tax policy or tax administration have gone into excluding petroleum products from the purview of the GST. However, the long-term perspective of a rational tax policy for the GST shows that, at present, these taxes constitute more than half of the retail prices of motor fuel. In a scenario where motor fuel prices are deregulated, the taxation policy would have to be flexible and linked to the global crude oil prices to ensure that prices are held stable and less pressure exerted on the economy during the increasing price trends. The trend of taxation of motor fuel all over the world suggests that these items

The consumption of petroleum products is expected to grow from the present level of approximately 64 MMT in 1994-95 to around 100 MMT by the turn of this century and to 149 MMT by the year 2010. The objective of the oil industry is to meet this growth in an efficient and effective way

While the rich became richer, the taxation policy of the government, instead of correcting this trend, actively strengthened it. One of the first decisions of the first Modi government was to abolish the wealth tax that had been introduced in 1957. While the fiscal resources generated by this tax were never significant, the decision was more than a symbolic one.126 The wealth tax was replaced with an income tax increase of 2 percent for households that earned more than Rs 10 million (133,333 USD) annually.127 Few people pay income tax in India anyway: only 14.6 million people (2 percent of the population) did in 2019. As a result, the income-tax-to-GDP ratio remained below 11 percent. Not only has the Modi government not tried to introduce any reforms to change this, but it has instead increased indirect taxes (such as excise taxes), which are the most unfair as they affect everyone, irrespective of income. Taxes on alcohol and petroleum products are a case in point. As some state governments have also imposed their own taxes, this strategy means that India has one of the highest taxation rates on fuel in the world. The share of indirect taxes in the state’s fiscal resources has increased under the Modi government to reach 50 percent of the total taxes—compared to 39 percent under UPA I and 44 percent under UPA II.128 Modi’s taxation policy, a supply-side economics approach, is in keeping with the managerial rhetoric of promoting the spirit of enterprise that the prime minister, who readily presents himself as an efficiency-conscious “apolitical CEO,” relishes. One of the neoliberal measures the Modi government enacted in the name of economic rationality, right from his very first budget in 2015, was to lower the corporate tax.129 For existing companies it was reduced from 30 to 22 percent, and for manufacturing firms incorporated after October 1, 2019 that started operations before March 31, 2023, it was reduced from 25 to 15 percent—the biggest reduction in twenty-eight years. In addition to these tax reductions, the government withdrew the enhanced surcharge on long- and short-term capital gains for foreign portfolio investors as well as domestic portfolio investors.130

Here are the simplest recommendations on choosing the proper baby care products for your babies.  Take Advice from Pediatrician – it's always hard to ignore a doctor’s advice. the kid specialist doctors will suggest you the simplest baby care products which will fit your baby’s skin. The pediatricians realize the various baby care products and their ingredients too. So, taking advice while purchasing baby products are going to be good for you.  Try to get Chemical-Free Products – The soaps, shampoos, or lotions made for babies are mild than the traditional daily use soaps and shampoos. you ought to choose the skin care products that are freed from chemicals for your sons and daughters .  Read the Labels – Having proper knowledge about the ingredients of baby products can assist you decide which products to get . you ought to remember of the toxins that are utilized in these products which are mentioned on the labels of the products.  Choose Organic Baby Care Products – Organic baby care products are natural products that don't contain heavy toxins, metals, or petroleum. These are safer products that are safe on the baby’s skin. it's better to settle on organic baby care products.  Opt for Cloth Diapers – The skin of the newborn babies is extremely sensitive also as delicate. you ought to not put the ready-made diapers on to your babies. the material diapers are perfect for the new-born babies till the time they're 4 to five months older.

palm oil, not only for inclusion in many food products but also for biofuel. Because palm oil is considered a “clean” alternative to petroleum, the demand for it is growing in the United States and Europe.

fine, peanut butter and jelly were fine if your parents understood the jelly/jam issue. Grape jelly was best, by Jar, a nice slippery comforting sugary petroleum-product grape. Strawberry jam was second; everything else was iffy. Take raspberry, for instance—

Hydrotreating is widely used in refinery unit to remove sulfur, nitrogen, and metals from petroleum-based feedstock. The facilities used for the production of petroleum-based fuel such as catalysts, types of reactors, and distillation facilities can be used for the production of green diesel as well.

The Shwe Byain Phyu Group of Companies founded its first company, Manaw Thitar, In 1996. Manaw Thitar, founded by SBP’s Founder and Chairman Mr. Thein Win Zaw commenced its operation in Yangon by trading and distributing petroleum products with 6 by 1 barge and 3 tank trucks. Since then, SBP has grown to become a wholly family-owned business comprising of several private companies.

But even the biggest Wall Street banks were at a disadvantage when they went up against the traders at Koch Industries, British Petroleum, or Amoco. The Wall Street banks didn’t have access to inside information. Goldman Sachs didn’t own refineries or pipelines and couldn’t get a sneak peek into where markets were headed. The banks had to resort to second-rate information that was publicly available, like government reports on monthly energy supplies. It was a losing proposition. In the mid-1990s, the Wall Street banks came to Koch Industries, asking for help. “We kept getting approached by banks, who say, ‘Hey, Koch. You guys are so good at this physical stuff, we’d like to partner with you,’ ” recalled a former senior Koch executive who was heavily involved in trading operations. The banks came to Koch with the same pitch: the banks would handle “all this financial stuff,” while Koch handled the physical end of trading and shared information from its operations. If Koch executives were flattered by the attention from Wall Street, they didn’t show it for long. “We kind of got curious—or, suspicious is the better term,” the executive recalled. Rather than help the banks out, Koch set up a team to study why the banks were so interested in their business. Koch hired the outside consulting firm McKinsey & Company to study what was happening in commodities markets during the 1990s. McKinsey reported that the world of trading had grown even larger and more profitable than Koch Industries had suspected. As it happened, the futures contracts that Koch was trading had become the “plain vanilla” products in a rapidly booming market. Now there were more exotic, more opaque, and far more profitable financial products on the market. These products were called “derivatives.” That’s where the real money was.

These deals were part of a strategy that Koch had been formulating for over a year. Koch saw something in Eagle Ford. It was something that others also saw, but that Koch was the first to exploit. While production was flat until early 2010, the number of drilling rigs had more than tripled in just over a year, from thirty to 104. This number was a leading indicator. The wells would start pumping, and new oil would start to flow. Koch Industries was poised for the change. The wells being drilled into southern Texas were the face of an energy revolution that would redefine global oil markets and the American economy. They were part of a once-in-a-generation transformation that crept up quietly and then changed everything. In one short decade—from 2005 to 2015—America went from being the largest importer of refined petroleum products to the largest exporter of refined petroleum products. A country that was once the poster child for peak oil discovered that it was home to oil and natural gas deposits that were likely larger than those found in Saudi Arabia. The entire story about fossil fuels was reversed before many people even realized what was happening. These changes were every bit as cataclysmic for oil markets as the OPEC embargo had been in the 1970s. But this time, the changes accrued to America’s benefit. The cost of oil plummeted, OPEC was defanged, and America became essentially self-sufficient as an oil consumer.

THEINT WIN HTET Business and Petroleum Trade in Yangon, Myanmar.........SBP Trades in high-speed diesel oil, a product used as a fuel in medium and high compression ignition engines such as those in commercial vehicles, generators, locomotives, boats, and pumps. SBP primarily transacts with private filling stations, marine industry and commercial industrial customers

Biodiesel is an inexhaustible, clean-Ignite diesel substitution to reduce dependence on foreign petroleum use, create jobs and improve the environment. Recycled cooking oil, soybean oil and animal fats made from a diverse mix of feedstock including was the first and only EPA - 1 billion gallons of annual production to reach across the Biodiesel Plants country and the first commercial scale production of advanced biofuels named. Strict technical fuel quality and engine performance specifications meeting, this amendment without existing diesel engines to be used in and all major engine manufacturers ' warranty is covered by, most often 5 percent or 20 percent biodiesel blend.

A good part of the state’s assets were privatized, including electric power distribution, banks, and telecommunications. The country lacks a national currency, having shifted from the colón to the U.S. dollar in 2001. The country’s main export is people, who travel to and remain in the United States and other countries and send back remittances, which constitute one of the largest contributions to the nation’s GDP; drug money-laundering may bring in more than remittances, but nobody knows for sure. A sizable proportion of economically viable enterprises are now owned wholly or partially by multinational corporations, including the important banks, all communications (mobile phones and internet), beer, petroleum derivatives, and airlines. The country imports a lot of what it consumes, especially foodstuffs, energy, and health products, which is reflected in a chronic trade deficit that would be unsustainable were it not for remittances.

But most scientists studying the western climate believe the freak will become the norm. Researchers recently concluded that the extended dry period in the West over the last ten years is the worst in eight hundred years—that is, since the years between 1146 and 1151. Eight hundred years! If we were just talking about another decade of this or, worse, a decade of the type of heat we were seeing in the summer of 2012, the results would be catastrophic. But climate scientists believe it will keep getting hotter. If so even drought-resistant plants will die, reservoir levels will continue to fall, crop production will drop. Worse, as vegetation withers, it will no longer be able to absorb carbon dioxide, further exacerbating climate change. And now to this precarious and combustible mix we have decided to add fracking. We have chosen to do this not with caution but on a massive scale, and to do it right next to our precious rivers, right smack in the middle of aquifers. We go into these places and use, mixed with the millions of gallons of water, a secret recipe of chemicals, many of them poisonous to humans, which we then force into fissures of rock with high-powered blasts to flush out the fuel we are seeking. The man in the bar had warned about earthquakes, but fracking is, in essence, a small seismic event, designed to blast out minerals. We have decided to inject poisons into the ground, then shake that ground, in a region where potable water is more precious than gold. But not, we have decided, more precious than oil. One thing is crystal clear. Though fracking is unproven technology, we are not treating it that way. Instead we are conducting a vast experiment all over the country, from the hills of Pennsylvania to the deserts of Utah. Since we are moving into unfamiliar territory you would think, if we were wise, that we would carefully monitor any and all results. We are not. When people in the fracked area complain that their water is fizzling out of their taps in a foamy mix, smelling of petroleum, the companies are quick to offer other water sources, like cisterns, but not quick, of course, to question the enterprise itself. In fact, the corporate response to the contaminated water supplies and groundwater has been consistent. They tell the landowners and anyone else who complains that they are concerned but that they will not slow down until there is conclusive proof that what they are doing is dangerous and poses a health risk. This is standard operating procedure in today’s world, but it is also, to anyone with a dollop of common sense, an ass-backwards way of doing things. “Despite the troubles people are having, we’ll keep going full-speed ahead until someone proves to us the trouble is real,” they tell us. Never, “Maybe we should slow down until we learn the facts.

This unstated coordination gave the producers of electricity what economists call market power, which means the ability to set prices higher than a competitive market would allow. Within less than a hundred rounds of bidding, Talukdar’s experimental auctions resembled not so much a competitive market as a cartel, in which many sellers obtain monopoly power by coordinating their actions to artifically inflate prices. That is what OPEC, the Organization of Petroleum Exporting Countries, does openly when members collude on setting the price of oil by limiting production.

The trick of switching words’ meanings is one of the oldest in the book. Just think of “freedom” and “democracy” … Ultimately, it’s a problem of shortsightedness. An addiction to what’s next. People become so obsessed with the future, they make it up. Fabricate the “news.” Invent their own “analysis.” We’ve been doing that for years. It seems only natural that eventually we’d move on to manufacturing words.… But Synchronic didn’t invent accelerated obsolescence. As a nation we’ve been practicing mass production since before World War II. We believed wastefulness would morph, by magic, into wealth. That if we created enough disposable products, it would help fire consumerism. And it did, for a while. But here’s a dirty secret: resources are finite. Waste enough, and eventually it’s all used up. Language, too. You can’t just coin a word, use it once, and toss it out. But language is just the latest casualty. We always think there’s more of everything, even as we deplete it. Not just petroleum or gold, glacial ice or water, bandwidth. Now even our thoughts and memories are disposable.

Even his moustache—teased into the shape of a wide up-thrusting “w”—was so famous it acquired a name: Er ist erreicht! “It is achieved!” Manipulated through the miracle of pomade—its key ingredient the remarkable new product, petroleum jelly—it was the very model of a modern moustache, a controlled riposte to the great bushy, biblical patriarch beards and side-whiskers of the previous generation.*

Realizing that solar had become essential to oil production, petroleum firms set up their own photovoltaic subsidiaries. Exxon became, in 1973, the first commercial manufacturer of solar panels; the second, a year later, was a joint venture with the oil giant Mobil. (Exxon and Mobil merged in 1999.) The Atlantic Richfield Company (ARCO), another oil colossus, ran the world’s biggest solar company until it was acquired by Royal Dutch Shell, the oil and gas multinational. Later the title of world’s biggest solar company passed to British Petroleum (now known as BP). By 1980 petroleum firms owned six of the ten biggest U.S. solar firms, representing most of the world’s photovoltaic manufacturing capacity.

What happens when world petroleum production plateaus, as it has done for nearly a decade, and begins to decline, as it will do for the rest of our lives, has very little to do with physical questions. The forces that are taking the lead in the opening phases of the deindustrial age will be political, cultural, and psychological, not physical. About these issues the methods of the scientist and the engineer have very little useful to say, and most of that was drowned out decades ago by the louder voices of political opportunism and middle-class privilege.

The frictional generator with its Leyden jar and the chemical battery continued to be the primary sources of electricity until late in the nineteenth century. Both were feeble, limited, and expensive compared with the products of the development of steam, the broad-shouldered steam engines that powered factories, raised water, propelled ships, and hauled trainloads of passengers and freight. On a smaller but complementary scale, horses moved goods and passengers within the city and generated power directly or by turning sweeps on the farm. The fuels most in demand for heating and to power machinery were wood and coal. United States energy consumption reached 70 percent wood in 1870, shifting to 70 percent coal by 1900.7 Kerosene was a cheap lighting fuel where coal-derived town gas wasn’t available, and petroleum increased its share as its use for lighting and lubrication grew.

Fulfilling a White House ambition expressed as early as 1944, Congress authorized a Strategic Petroleum Reserve with up to a billion barrels stockpiled against a national emergency; expanded powers for the executive in the event of another oil embargo; incentives for more environmentally friendly coal production; and tough new efficiency mandates for electrical appliances.