Paul Favret – An Insight into Crude Oil and Its Uses 

Crude oil is a source of liquid fuel found under the ground. It is extracted via drilling and used for heating, transportation, and the generation of electricity, plastics, and petroleum products. It is a fossil fuel as it is comprised of ancient fossils. Oil is a fossil fuel comprised of hydrocarbons that were left on the Earth millions of years back by animals and plants. The oil people used today is derived from water-based animals and plants that lived before the dinosaurs existed. 

Paul Favret is the CEO/Founder of Source Energy Partners, LP, and he completed his education at the University of North Carolina System and the University of South Carolina. He served as the Chief Executive Officer, Aspect Energy. According to him, when it comes to crude energy, over the period of millions of years, the remains of animals and plants were heated and crushed between layers of sand and rocks till they became pools of oil under the ground. This is why the name “crude oil” is not refined for use. Crude oil is fuel and is used as a base for products. This oil can provide fuel for cars, jets, generators, and heaters. 

The base for plastic and other products 

Crude oil is used for the creation of petroleum products like paraffin wax, tar, asphalt, and lubricating oils. It is used for the creation of products that are not linked with petroleum. Computers, fertilizers, and perfumes are made with crude oil. It is the base for plastics, so it is generally made from crude oil; if you see anything made of plastic.

According to credible reports, in 2020, the USA produced about 4.1 billion barrels of this oil. Each barrel produces about 45 gallons of petroleum products. Gasoline is one of the most commonly produced petroleum products, and there are about 19.4 gallons of gas that is created from every barrel of crude oil. 

Types of crude oil

There are several different types of crude oil, and, The American Petroleum Institute (API) made a standard of measurement based on density levels called the API gravity, which places crude oil types into two weight classifications. However, some companies classify crude oil as a medium oil that falls between light and heavy levels. There is also a medium class of this oil available with some companies. 

There are two segments of crude oil based on the sulfur content that is deployed by the industry. The oil is divided into the groups of sour and sweet, based on the percentage of sulfur it had. The sour crude oil contains a sulfur content of more than 1%. The sweet crude oil has less than 1% sulfur.

When you buy crude oil, you will find they are classified under four labels- 

  • Light
  • Heavy
  • Sweet 
  • Sour

According to Paul Favret, these classifications are combined and deployed for labeling the weight and the sulfur content of the oil. For instance, you may come across labels like crude oil that is “light-sweet” or “medium-sweet” crude as a definition for an oil.