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"Black gold": Some curiosities you never knew about oil

2022-09-29 20:20:08Lifestyle SHKRUAR NGA REDAKSIA VOX
"Black gold": Some curiosities you never knew about oil
"black gold"

Because of the Russia-Ukraine war, everyone is complaining about high oil prices: businesses worry about the rising cost of by-products and politicians worry about the geo-political situation of oil-rich countries, while the rest of us pay through the nose for it that fills up at gas stations.

But how much do we really know about oil? Do you know where oil comes from? (Not from dinosaurs). Or that in the early days gasoline was so worthless that it was thrown into rivers? Do you know how much it costs the Saudis to produce a barrel of crude oil?

1- "Petroleum" = Rock oil

The word oil (petroleum) comes from the Greek word "petros" and the Latin word "oleum", which means "rock" and "oil". Before the word "petroleum" was coined by the German mineralogist Georg Bauer in 1556, people called it "rock oil". The Chinese, who drilled the first oil well in 347 BC (240 m deep), call it "shi", which means stone oil.

2- Origin of oil

Some say that oil was created from decomposing dinosaurs and plant matter, but that's not true. Although scientists believe it has a biological origin, the oil did not come from decomposing plankton. Russian and Ukrainian geologists believe that oil was not derived from anything living, but from carbon deposits dating back to the formation of the Earth.

3- Ancient uses

Humanity has been using oil for a long time. Asphalt was used in ancient Babylon for buildings and ships. Bitumen was first used in the 8th century in Baghdad to pave roads. Crude forms of kerosene were used for lamps. During the Byzantine reign, Greek fire, an incendiary weapon whose formula is long lost to history, was believed to be ignited with oil.

4- Do you love whales? Thanks to oil!

In the 9th century, high demand for whale oil for industrial uses fueled the whaling industry. It was used for lamps, candle wax and watch lubricants; to brilliant early photographs and essential ingredients for pharmacy, soap and cosmetics. Thanks to the distillation of oil, the demand for whale oil fell until it no longer made economic sense.

5- When the oil was poured into the river

During the early days of standard oil (before cars became popular), kerosene was the fuel of the day. Gasoline, a by-product of distilled petroleum, was not in much demand. It was an inexpensive product that was used against lice and to remove stains. Indeed, oil was so cheap that companies dumped it into rivers.

6- Different areas, different prices

Oil has different costs in different parts of the country, even though it costs the same to produce and transport. In the US, each area has different prices. It is the strategy of the oil companies to drive the benefits to charge customers different amounts based on traffic volume, fuel conditions, per capita income.

7- Price increase in 1970

It is easy to think that today's high prices are a new problem, but the fact is that this has happened twice before. In 1973, the Arab members of "OPEC" announced that they would cut oil production and not export it to the USA, Europe and Japan, as they supported Israel in the Yom Kippur war. Basically, they use oil as a weapon to condemn the West. In 1979, the second crisis occurred after the Iranian revolution.

8- The reason the Saudis are so rich

Extracting oil from the ground is a complicated process, but also a science in itself. Do you know how much a barrel of oil costs "Saudi Aramco", the national oil company in Saudi Arabia and the world's largest producer? Saudi Aramco has now been declared the most profitable firm on the planet, with net income in the billions of dollars.

9- The increase of oil brings the increase of goods

Of the 20 million barrels the US imports each day, only 45 percent is used for gasoline. Paint, computer and television screens, cell phones, lamps, pillows, paper, mattresses, car seats, carpets, and rugs are all made from ingredients that chemical companies refine from natural gas and oil. Oil is also used for energy by many food companies, which is why everything is chained.


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