leaking pen wrote:
<http://www.energy.ca.gov/gasoline/whats_in_barrel_oil.html>http://www.energy.ca.gov/gasoline/whats_in_barrel_oil.html
This shows that one barrel of crude oil is about 51% gasoline, 15% distillate fuel, and so on. That does not affect the estimate of the retail cost of gasoline that I posted earlier, because the 49% of the barrel that is not gasoline is not thrown away. All fractions are used, the way native Americans supposedly used the buffalo. Perhaps the 1.7% "asphalt and road oil" is not worth as much per gallon as gasoline, but it is worth something.
Anyway, the formula I quoted is a rule of thumb. I did not mean to imply that they actually divide the 42 gallons into gasoline and add a buck a gallon.
To summarize, for the grade of oil shown here, it takes two barrels to make one barrel of gasoline, but the leftover barrel of glup & sludge such as distillate fuel and jet fuel is also worth a lot of money.
- Jed
