Rogue News
What is Refined Crude Oil?
We all have a vague sense of oil: it comes from the ground, is changed into a useful fuel source or petrochemical, and eventually benefits our lives. Oil headlines regularly splash across the news, and we notice when gas prices fluctuate.
But what does the average American actually know about the refining process itself? In truth, we probably know more about cooking oils than we do about crude ones.
Hydrogen as A Fuel
If you’ve ever been stuck in traffic on the Capital region, you know how many cars, trucks, and motorcycles depend on fuel for their daily commute — about 267,000 per day for that region. So, when fuel shortages occur, like in the 1970s, energy policy and alternate fuel sources become hotly debated issues. Today, industry experts are naming Hydrogen as the Fuel of the Future.
Why Do Oil Prices Rise and Fall?
In the last two years, we have seen crude oil prices fluctuate from trading at historic lows of $13.78 price per barrel in April 2020 to a new eight-year high of $111.53 in March 2022. Quite the increase wouldn’t you say? A +709% increase to be exact. Oil prices have been notoriously volatile throughout our country’s rich history. Why? Because of the long list of everchanging factors that contribute to the fluctuations of this raw material’s price.