It has been 40 years since the oil crisis of 1973/74. This crisis has been one of the defining economic events of the 1970s and has shaped how many economists think about oil price shocks. In recent ...years, a large literature on the economic determinants of oil price fluctuations has emerged. Drawing on this literature, we first provide an overview of the causes of all major oil price fluctuations between 1973 and 2014. We then discuss why oil price fluctuations remain difficult to predict, despite economists' improved understanding of oil markets. Unexpected oil price fluctuations are commonly referred to as oil price shocks. We document that, in practice, consumers, policymakers, financial market participants, and economists may have different oil price expectations, and that, what may be surprising to some, need not be equally surprising to others.
The aim of the study was to examine and compare oxidative stability of refined (peanut, corn, rice bran, grapeseed, and rapeseed) oils. The oils were subject a Schaal Oven Test (temperature 63 ± 1 ...°C) and a Rancimat test (temperature 120 °C) and their stability was compared at the 1st and 12th month of storage. Changes in the peroxide (PV) and anisidine (AnV) values in the thermostat test were the fastest in rapeseed oil and grapeseed oil. The best quality was preserved by peanut and corn oils both in the first and the twelfth month of storage. The induction times for the rice bran, corn, peanut, and rapeseed oils were similar from 4.77 h to 5.02 h in the first month and from 3.22 h to 3.77 h in the twelfth month. The shortest induction times were determined for grapeseed oil: 2.4 h and 1.6 h, respectively. A decrease of oxidative stability of about 30% was found in all the oils after 12 months of storage. The PV of 10, determined in the thermostat and Rancimat tests, were achieved at the latest in corn oil and the fastest in rice bran oil.
This article makes four contributions. First, it investigates the extent to which the U.S. fracking boom has caused Arab oil exports to decline since late 2008. Second, the article quantifies for the ...first time by how much the U.S. fracking boom has lowered the global price of oil. Using a novel econometric methodology, it is shown that in mid-2014, for example, the Brent price of crude oil was lower by $10 than it would have been in the absence of the fracking boom. Third, the article provides evidence that the decline in Saudi net foreign assets between mid-2014 and August 2015 would have been reduced by 27% in the absence of the fracking boom. Finally, the article discusses the policy choices faced by Saudi Arabia and other Arab oil producers.
The consumption of vegetable oil is an important way for the body to obtain tocols. However, the impact of oil types and grades on the tocopherol and tocotrienol contents in vegetable oils is ...unclear. In this study, nine types of traditional edible oils and ten types of self-produced new types of vegetable oil were used to analyze eight kinds of tocols. The results showed that the oil types exerted a great impact on the tocol content of traditional edible oils. Soybean oils, corn oils, and rapeseed oils all could be well distinguished from sunflower oils. Both sunflower oils and cotton seed oils showed major differences from camellia oils as well as sesame oils. Among them, rice bran oils contained the most abundant types of tocols. New types of oil, especially sacha inchi oil, have provided a new approach to obtaining oils with a high tocol content. Oil refinement leads to the loss of tocols in vegetable oil, and the degree of oil refinement determines the oil grade. However, the oil grade could not imply the final tocol content in oil from market. This study could be beneficial for the oil industry and dietary nutrition.
This book bridges the gap between theory and practice in a range of real-world EOR settings. Areas covered include steam and polymer flooding, use of foam, in situ combustion, microorganisms, "smart ...water"-based EOR in carbonates and sandstones, and many more. Oil industry professionals know that the key to a successful enhanced oil recovery project lies in anticipating the differences between plans and the realities found in the field. This book aids that effort, providing valuable case studies from more than 250 EOR pilot and field applications in a variety of oil fields. The case studies cover practical problems, underlying theoretical and modeling methods, operational parameters, solutions and sensitivity studies, and performance optimization strategies, benefitting academicians and oil company practitioners alike.
Fatty acid composition as an indicator of purity suggests that linolenic acid content could be used as a parameter for the detection of extra/virgin olive oil fraud with 5% of soybean oil. The ...adulteration could also be detected by the increase of the trans-fatty acid contents with 3% of soybean oil, 2% of corn oil, and 4% of sunflower oil. The use of the ΔECN42 proved to be effective in Chemlali extra-virgin olive oil adulteration even at low levels: 1% of sunflower oil, 3% of soybean oil, and 3% of corn oil. The sterol profile is almost decisive in clarifying the adulteration of olive oils with other cheaper ones: 1% of sunflower oil could be detected by the increase of Δ7-stigmastenol and 4% of corn oil by the increase of campesterol. Linear discriminant analysis could represent a powerful tool for faster and cheaper evaluation of extra-virgin olive oil adulteration.
•Novel optimization technique for optimization of the transformer oil.•Transformer oil blended with sunflower oil, palm oil, rapeseed oil and olive oil.•The properties of the proposed mineral is ...analyzed with Taguchi method.•Mineral oil with sunflower oil blending found to be an optimum mixture.
The objective of the work is to improve the performance of mineral oil. To enhance the performance,mineral oil is blended with natural ester oils such as sunflower oil, palm oil,rapeseed oil and Olive oil. The key parameters of the blending mixtures are measured such as breakdown voltage, viscosity, flash point, fire point and acidity as per standards. In order to verify the repeatability and reproducibility of the above parameters, repeated measurements are taken. With the increase in mixing ratio, the performance of samples gets increased to some extent, after that, it started decreasing. The selection of optimal sample concentration based on the considered parameters is quite tricky. Therefore, it is vital to determine the optimal sample concentration based on the enhanced electrical, physical and thermal properties with respect to the mixture concentration. In this work, the selection of optimal mixed liquid insulation is performed by a grey relational analysis (GRA) method after carefully measuring the properties. It determines, Mineral oil and Sunflower oil mixing ratio 10:90 produces desirable performance compared to other samples. Validation has also been carried out on the optimized sample concentration. It is concluded that grey relational analysis is a possible method to determine the optimal sample concentration of mixed liquid insulation.
This paper presents the results of imbibition tests using a reservoir crude oil and a reservoir brine solution with a high salinity and a suitable nanofluid that displaces crude oil from Berea ...sandstone (water-wet) and single-glass capillaries. The Illinois Institute of Technology (IIT) nanofluid is specially formulated to survive in a high-salinity environment and is found to result in an efficiency of 50% for Berea sandstone, compared to 17% using the brine alone at a reservoir temperature of 55 °C. We also present a direct visual evidence of the underlying mechanism based on the structural disjoining pressure for the crude oil displacement using IIT nanofluid from the solid substrate in high-salinity brine. These results aid our understanding of the role of the nanofluid in displacing crude oil from the rock, especially in a high-salinity environment containing Ca2+ and Mg2+ ions. Results are also reported using Berea sandstone and a nanofluid containing silica nanoparticles.
Purpose
Parenteral lipid emulsions (LEs) are commonly rich in long-chain triglycerides derived from soybean oil (SO). SO-containing emulsions may promote systemic inflammation and therefore may ...adversely affect clinical outcomes. We hypothesized that alternative oil-based LEs (SO-sparing strategies) may improve clinical outcomes in critically ill adult patients compared to products containing SO emulsion only. The purpose of this systematic review was to evaluate the effect of parenteral SO-sparing strategies on clinical outcomes in intensive care unit (ICU) patients.
Methods
We searched computerized databases from 1980 to 2013. We included randomized controlled trials (RCTs) conducted in critically ill adult patients that evaluated SO-sparing strategies versus SO-based LEs in the context of parenteral nutrition.
Results
A total of 12 RCTs met the inclusion criteria. When the results of these RCTs were statistically aggregated, SO-sparing strategies were associated with clinically important reductions in mortality (risk ratio, RR 0.83; 95 % confidence intervals, CI 0.62, 1.11;
P
= 0.20), in duration of ventilation (weighted mean difference, WMD −2.57; 95 % CI −5.51, 0.37;
P
= 0.09), and in ICU length of stay (LOS) (WMD −2.31; 95 % CI −5.28, 0.66;
P
= 0.13) but none of these differences were statistically significant. SO-sparing strategies had no effect on infectious complications (RR 1.13; 95 % CI 0.87, 1.46;
P
= 0.35).
Conclusion
Alternative oil-based LEs may be associated with clinically important reductions in mortality, duration of ventilation, and ICU LOS but lack of statistical precision precludes any clinical recommendations at this time. Further research is warranted to confirm these potential positive treatment effects.
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