Cmde oil prices

The price histories for the four isomers are given ia Reference 1. The average values started to increase drastically ia late 1973 owing to increases in world cmde oil prices. They also increased sharply from 1979—1985 in response to increased cmde oil prices and shortages of xylenes. From 1986—1992 the prices generally declined as availabiUty increased and cmde oil prices declined, except in 1989 when derivatives demand was strong and xylenes supply was tight. 

Adipic acid is a very large volume organic chemical. Worldwide production in 1986 reached 1.6 x 10 t (3.5 x 10 lb) (158) and in 1989 was estimated at more than 1.9 x 10 t (Table 7). It is one of the top fifty (159) chemicals produced in the United States in terms of volume, with 1989 production estimated at 745,000 t (160). Growth rate in demand in the United States for the period 1988—1993 is estimated at 2.5% per year based on 1987—1989 (160). Table 7 provides individual capacities for U.S. manufacturers. Western European capacity is essentially equivalent to that in the United States at 800,000 t/yr. Demand is highly cycHc (161), reflecting the automotive and housing markets especially. Prices usually foUow the variabiUty in cmde oil prices. Adipic acid for nylon takes about 60% of U.S. cyclohexane production the remainder goes to caprolactam for nylon-6, export, and miscellaneous uses (162). In 1989 about 88% of U.S. adipic acid production was used in nylon-6,6 (77% fiber and 11% resin), 3% in polyurethanes, 2.5% in plasticizers, 2.7% miscellaneous, and 4.5% exported (160). 

X 10 GJ (436 x 10 BTU) of methane was processed into 15, 200 x 10 kg of ammonia (9) and 924 X 10 kg of methanol (3) in the United States in 1990. Natural gas prices generally foUow cmde oil prices in the United States because they compete in energy markets, but natural gas prices exhibit less volatiHty and have been lower in cost on a fuel basis. Historical natural gas and cmde oil prices are shown in Eigure 4. 

Liquid Fuels. Liquid fuels can be obtained as by-products of low temperature carbonization by pyrolysis, solvent refining, or extraction and gasification followed by catalytic conversion of either the coal or the products from the coal. A continuing iaterest ia Hquid fuels has produced activity ia each of these areas (44—46). However, because cmde oil prices have historically remained below the price at which synthetic fuels can be produced, commercialization awaits an economic reversal. 

The appHcation that has led to increased interest in carbon dioxide pipeline transport is enhanced oil recovery (see Petroleum). Carbon dioxide flooding is used to Hberate oil remaining in nearly depleted petroleum formations and transfer it to the gathering system. An early carbon dioxide pipeline carried by-product CO2 96 km from a chemical plant in Louisiana to a field in Arkansas, and two other pipelines have shipped CO2 from Colorado to western Texas since the 1980s. EeasibiHty depends on cmde oil prices. 

U.S. petroleum benzene prices since 1974 are Hsted in Table 6 (64). Until 1978, benzene prices were relatively stable and through 1985 they increased considerably, peaking in 1981 because of the increased demand for aromatics in the gasoline pool. At that time, there was also a large surplus of low priced imported benzene and a softening of the ethylbenzene—styrene market. The decline of cmde oil prices in 1986 caused a dramatic drop in domestic benzene prices. In 1987, U.S. benzene production increased 13.9% over 1986, and this rise was largely ascribed to a favorable export market for benzene derivatives... 

Prior to 1973, there was a surplus supply of crude oil in the United States. To avoid overproduction with the concomitant depression in the price of crude oil, the Texas Railroad Commission controlled the level of production of oil wells in Texas (other states had similar regulations). This provided some stability in cmde oil pricing. However, in 1973, it became apparent to the oil ministers of OPEC countries that oil-importing countries could not do without the Middle... 

As recent history indicates, oil prices will particularly affert future PO pricing— even though most PO feedstocks are based on natural gas. PO prices have tended to track cmde oil prices inaeases, and oil price volatility can be... 

The prices of oil and natural gas are referred to the World Bank Commodity Prices Date (also known as Pink Data). The 10-year avauge (July 2004—July 2014) cmde oil prices of the three primary benchmarks (Brent, Dubai, and West Texas intermediate) fall in the narrow range of 79.8—84.1 US /bbl. Dming the same 10-year period, the average natural gas benchmark prices (US, Europe, and Japan) are in the range of 5.6—11.1 US /MMBtu. For this study, the lower values of the above ranges for oil and gas are used to calculate the heat costs of the conventional plant. 

While the demand keeps increasing across the years, consumption of oil is faster than its discovery, thus petroleum production is decreasing and will be depleted sooner as shown. These predictions are described by Hubbert peak theory, which says that when the peak production is passed, production rates enter an exponential decline (Hubbert, 1956 Management et al., 2005). The depletion or decline process is a natural phenomenon that accompanies the development of aU nonrenewable resources. The depletion of the world s crade oil reserve, increasing cmde oil prices, and issues related to conservation have brought about renewed interest in the use of biobased materials. 

Recently, biodiesel has attracted much attention because of the rising cmde oil price and ever-increasing environmental concerns. The chemical synthesis of biodiesel, however, has many drawbacks, such as a complex technological... 

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