Diesel fuel // in general is any liquid fuel used in diesel engines. The most common is a specific fractional distillate of petroleum fuel oil, but alternatives that are not derived from petroleum, such as biodiesel, biomass to liquid (BTL) or gas to liquid (GTL) diesel, are increasingly being developed and adopted. To distinguish these types, petroleum-derived diesel is increasingly called petrodiesel. Ultra-low-sulfur diesel (ULSD) is a standard for defining diesel fuel with substantially lowered sulfur contents. As of 2007, almost all diesel fuel available in the United States of America, Canada and Europe is the ULSD type.
In the UK, diesel fuel for on-road use is commonly abbreviated DERV, standing for Diesel Engined Road Vehicle, which carries a tax premium over equivalent fuel for non-road use (see Taxation). In Australia Diesel fuel is often known as 'distillate'
Petroleum products are useful materials derived from crude oil (petroleum) as it is processed in oil refineries. Unlike petrochemicals, which are a collection of well-defined usually pure chemical compounds, petroleum products are complex mixtures. The majority of petroleum is converted to petroleum products, which includes several classes of fuels.
According to the composition of the crude oil and depending on the demands of the market, refineries can produce different shares of petroleum products. The largest share of oil products is used as "energy carriers", i.e. various grades of fuel oil and gasoline. These fuels include or can be blended to give gasoline, jet fuel, diesel fuel, heating oil, and heavier fuel oils. Heavier (less volatile) fractions can also be used to produce asphalt, tar, paraffin wax, lubricating and other heavy oils. Refineries also produce other chemicals, some of which are used in chemical processes to produce plastics and other useful materials. Since petroleum often contains a few percent sulfur-containing molecules, elemental sulfur is also often produced as a petroleum product. Carbon, in the form of petroleum coke, and hydrogen may also be produced as petroleum products. The hydrogen produced is often used as an intermediate product for other oil refinery processes such as hydrocracking and hydrodesulfurization.
United States customary units are a system of measurements commonly used in the United States. The U.S. customary system developed from English units which were in use in the British Empire before American independence. Consequently most U.S. units are virtually identical to the British imperial units. However, the British system was overhauled in 1824, changing the definitions of some units used there, so several differences exist between the two systems.
The majority of U.S. customary units were redefined in terms of the meter and the kilogram with the Mendenhall Order of 1893, and in practice, for many years before. These definitions were refined by the international yard and pound agreement of 1959. The U.S. primarily uses customary units in its commercial activities, while science, medicine, government, and many sectors of industry use metric units. The International System of Units (SI), the modern form of the metric system, is preferred for many uses by the National Institute of Standards and Technology (NIST).
The system of imperial units or the imperial system (also known as British Imperial) is the system of units first defined in the British Weights and Measures Act of 1824, which was later refined and reduced. The system came into official use across the British Empire. By the late 20th century, most nations of the former empire had officially adopted the metric system as their main system of measurement; however some Imperial units are still used in the United Kingdom and Canada.
Liquid fuels are combustible or energy-generating molecules that can be harnessed to create mechanical energy, usually producing kinetic energy; they also must take the shape of their container. It is the fumes of liquid fuels that are flammable instead of the fluid.
Most liquid fuels in widespread use are derived from fossil fuels; however, there are several types, such as hydrogen fuel (for automotive uses), ethanol, and biodiesel, which are also categorized as a liquid fuel. Many liquid fuels play a primary role in transportation and the economy.
Energy economics is a broad scientific subject area which includes topics related to supply and use of energy in societies. Due to diversity of issues and methods applied and shared with a number of academic disciplines, energy economics does not present itself as a self-contained academic discipline, but it is an applied subdiscipline of economics. From the list of main topics of economics, some relate strongly to energy economics:
Energy economics also draws heavily on results of energy engineering, geology, political sciences, ecology etc. Recent focus of energy economics includes the following issues:
The usage and pricing of gasoline (or petrol) results from factors such as crude oil prices, processing and distribution costs, local demand, the strength of local currencies, local taxation, and the availability of local sources of gasoline (supply). Since fuels are traded worldwide, the trade prices are similar. The price paid by consumers largely reflects national pricing policy. Some regions, such as Europe and Japan, impose high taxes on gasoline (petrol); others, such as Saudi Arabia and Venezuela, subsidize the cost. Western countries have among the highest usage rates per person. The largest consumer is the United States, which used an average of 368 million US gallons (1.46 gigalitres) each day in 2011.
Gasoline gallon equivalent (GGE) or gasoline-equivalent gallon (GEG) is the amount of alternative fuel it takes to equal the energy content of one liquid gallon of gasoline. In 1994, the U.S. National Institute of Standards and Technology or NIST defined "gasoline gallon equivalent (GGE) means 5.660 pounds of natural gas."
GGE allows consumers to compare the energy content of competing fuels against a commonly known fuel—gasoline. Compressed natural gas (CNG), for example, is a gas rather than a liquid. It can be measured by its volume in Standard cubic feet (ft³) (volume at atmospheric conditions), by its weight in pounds (lb) or by its energy content in joules (J) or British thermal units (BTU) or kilowatt-hours (kW·h). It is difficult to compare the cost of gasoline with other fuels if they are sold in different units. GGE solves this. A GGE of CNG and a GGE of electricity all have the same energy content as one gallon of gasoline. CNG sold at filling stations is priced in dollars per GGE.
Finance is the allocation of assets and liabilities over time under conditions of certainty and uncertainty. A key point in finance is the time value of money, which states that a unit of currency today is worth more than the same unit of currency tomorrow. Finance aims to price assets based on their risk level, and expected rate of return. Finance can be broken into three different sub categories: public finance, corporate finance and personal finance.
The United States of America (USA), commonly referred to as the United States (US), America, or simply the States, is a federal republic consisting of 50 states, 16 territories, and a federal district. The 48 contiguous states and the federal district of Washington, D.C., are in central North America between Canada and Mexico. The state of Alaska is the northwestern part of North America and the state of Hawaii is an archipelago in the mid-Pacific. The country also has five populated and nine unpopulated territories in the Pacific and the Caribbean. The largest of these territories are Puerto Rico and the American Virgin Islands which are an official part of the United States. At 3.79 million square miles (9.83 million km2) in total and with around 316 million people, the United States is the fourth-largest country by total area and third largest by population. It is one of the world's most ethnically diverse and multicultural nations, the product of large-scale immigration from many countries. The geography and climate of the United States is also extremely diverse, and it is home to a wide variety of wildlife.
Paleo-indians migrated from Asia to what is now the U.S. mainland around 15,000 years ago, with European colonization beginning in the 16th century. The United States emerged from 13 British colonies located along the Atlantic seaboard. Disputes between Great Britain and these colonies led to the American Revolution. On July 4, 1776, delegates from the 13 colonies unanimously issued the Declaration of Independence. The ensuing war ended in 1783 with the recognition of independence of the United States from the Kingdom of Great Britain, and was the first successful war of independence against a European colonial empire. The current Constitution was adopted on September 17, 1787. The first 10 amendments, collectively named the Bill of Rights, were ratified in 1791 and guarantee many fundamental civil rights and freedoms.