42 products

The ESG community lacks understanding of what crude oil is used for By Ronald Stein |May 20th, 2022|Energy Today, there is a lost reality that the primary usage of crude oil is NOT for the generation of electricity, but to manufacture derivatives and fuels which are the ingredients of everything needed by economies and lifestyles to exist and prosper. Energy realism requires that the legislators, policymakers, media and the investment community begin to understand the staggering scale of the decarbonization movement. Of the three fossil fuels, the Environmental, Social and Governance (ESG) community is unaware that crude oil is not used for electricity. In fact, crude oil is virtually useless, unless it is manufactured (by refineries) into oil derivatives that are the basis of more than 6,000 products in our daily lives that did not exist before the 1900s, and the fuels to move the heavy-weight and long-range needs of aircraft, cruise and merchant ships, and the military and space program.