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A barrel is one of several units of volume applied in various contexts; there are dry barrels, fluid barrels (such as the U.K. beer barrel and U.S. beer barrel), oil barrels, and so forth. For historical reasons the volumes of some barrel units are roughly double the volumes of others; volumes in common use range approximately from 100 to 200 ...
But the situation quickly changed in 2008 as American refineries became much more cost-competitive due to large increases in US production of oil, natural gas, and natural gas liquids. The US became a net exporter of refined petroleum in 2010, and since 2013 has been the world's largest net exporter of refined petroleum.
The standard temperature and pressure (STP) for gas varies depending on the particular code being used. [1] It is just as important to know the standard pressure as the temperature. Formerly, OPEC used 101.325 kPa (14.696 psia) but now the standard is 101.560 kPa (14.73 psia).
The ethanol market share in the U.S. gasoline supply grew by volume from just over 1 percent in 2000 to more than 3 percent in 2006 to 10 percent in 2011. [1] [7] [8] Domestic production capacity increased fifteen times after 1990, from 900 million US gallons to 1.63 billion US gal in 2000, to 13.5 billion US gallons in 2010.
Crude oil prices spiked last week amid fears the Israel-Hamas war could broaden to other countries — namely Iran — a key global oil producer.. Despite last week's gains, prices are still ...
In 2008, oil prices rose briefly, to as high as $145 per barrel, [25] and U.S. gasoline prices jumped from $1.37 to $2.37 per gallon in 2005, [26] causing a search for alternate sources, and by 2012, less than half the US oil consumption was imported. However, as of January 2015, the price of oil has decreased to around $50 per barrel. [27]
In the aftermath of Hurricane Katrina in 2005, the price of E85 rose to nearly on par with the cost of 87 octane gasoline in many states in the United States, and was for a short time the only fuel available when gasoline was sold out, but within four weeks of Katrina, the price of E85 had fallen once more to a 20% to 35% lower cost than 87 ...
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