We all know that oil is important to our daily fuel needs: 72% of petroleum consumption is from Gasoline, Diesel and Jet Fuel. Here are some other items you may not have known come from petroleum:
Synthetic Rubber This substance is used for sporting goods, shoes, and tires. The average tire is made using around 8 gallons of oil. Synthetic rubber is also commonly used in wire and cable insulation.
Cosmetics & Haircare Oils, waxes, perfumes, dyes, shampoos, conditioners, and hair dyes all contain petroleum by-products.
Medications A majority of medications are derived from benzene, which comes from petroleum. Petrochemicals make up acetylsalicylic acid that is in aspirin. It may be in the coating around the pill as well, since petroleum is used to make the digestible empty capsules.
Lubricants Possibly the most common lubricant is your regularly scheduled oil change [motor oil], grease and paraffin wax in candles. Since some lubricants can contain as much as 90% oil, they are almost a pure petroleum by-product.
Cleaning products Glycerin, a petrochemical, is often found in detergents.
Fabrics Acrylic, Nylon and Polyester are all petroleum based fibers. They are durable, cheap, readily available and easily cared for.
Asphalt Asphalt is a semi-solid form of petroleum and can be either natural or refined. Its main purpose is to act as the glue between various minerals, creating a material known as asphalt concrete.
Plastic Nearly all plastics are made from petrochemicals and plastic is absolutely everywhere.
Food Petroleum by-products are used in many synthetic fertilizers and pesticides, including organic. The use of petrochemicals is also in preservatives, flavorings, colorings, and chewing gum. Oil helps produce more food, faster, and keeps it fresh longer.
Quattro Exploration & Production is a Calgary-based energy company focused on growth in Western Canada. Check out their Investor Group on 8020 Connect to learn more about Quattro.
Learn more about investing - take a quick tour of 8020 Connect.Show me the quick tour tag_faces