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Are You Aware: There Are More Than 144 Products from Petroleum?

An April 2007 nationwide online survey revealed that 72 percent of the American public does not know that conventional plastic is made from petroleum products, primarily oil.

I assumed this was common knowledge. Apparently, it falls into the useless trivia category in most people’s brains. This reminds me of a video I was watching last week, the best of Jaywalking with Jay Leno on his final show. I didn’t see this one live, but it his jaywalking bit will be missed. If anything it should make you feel a lot smarter.

According to the US Energy Information Administration (EIA), this is a list of petroleum products and their share of total US petroleum consumption in 2013.

Gasoline 46%

Heating Oil / Diesel Fuel 20%

Jet Fuel ( kerosene) 8%

Propane / Propylene 7%

NGL / LRG 6%

Still Gas 4%

Petrochemical Feedstocks 2%

Petroleum Coke 2%

Residual / Heavy Fuel Oil 2%

Asphalt / Road Oil 2%

Lubricants 1%

Miscellaneous Products / Special Naphthas 0.4%

Other Liquids 1%

Aviation Gasoline 0.1%

Waxes 0.04%Kerosene 0.02%

ETC.

While there will be a number of industries that benefit from lower oil prices, it isn’t usually an immediate effect. It takes time for input prices to filter through the corporate supply chain and the economy.

Given the large drop in oil prices, this should give you some ideas about areas that could benefit from these lower prices. Investing in the oil sector may require some caution. My thought is to be careful of catching a falling knife on oil prices. There will eventually be some great bargains in the oil and gas energy sector, but patience is always a virtue. Look elsewhere to related industries.

Which one do you sell, which one can you use, which one can we buy from you?

Petroleum Products Volume 1

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