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EE prices show a significant dependency on crude oil quotations with a time-delay of about a quarter/season.
"Someone has to give serious thought to whether there is the potential to reduce dependency on crude oil," said Rahul Singh, an analyst with Citigroup in Mumbai.
The oil market's increased dependency on crude exports from the United States poses its own risks, because Gulf Coast ports can be shut down by hurricanes in the summer and the fall.
In an effort to reduce the dependency on crude oil based fuels and to decrease pollutant emissions, hydrogen-CNG (HCNG) attracted a considerable attention with its low HC/CO2 emission and fast burn rate.
This relationship between oil prices and freedom in oil-dependent states -- Friedman's first law -- was one of the reasons why we urgently needed to wean ourselves of our dependency on crude.
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Congestion, pollution and dependency on oil could be reduced.
Exxon Mobil has fought and lobbied to continue America's dependency on oil, while extorting Americans' dependency on foreign oil.
This will ensure lack of dependency on one customer.
But a dependency on wholesale purchases of crude oil and refined products is an advantage when crude oil prices are stable or falling and wholesale prices often are lower than a refiner's crude inventory.
if it would significantly reduce our dependency on foreign oil?
With the current experimental results, it was clearly demonstrated that an appropriate mixture of HCNG along with a suitable spark plug configuration, could become a promising candidate to replace the crude oil based IC engine fuels to alleviate the dependency on the depleting petroleum resource and to meet the stricter emission regulation.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com