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Crude oil by itself is not a valuable product. The products that are refined from crude oil are where the value lies. Crude oil is refined down into such products as gasoline, diesel fuel, jet fuel, propane and various flammable gasses, perfumes and insecticides. Some refined products from crude oil are also used as feed stocks in the production of other products like animal feed, plastics and other household items. With the expanding economies of various countries like China and Russia (Brown and Virmani 2007), the demand for these products has risen dramatically over the past four to five years...
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