Strategic developments

Strategic developments

The strategic development towards attaining a sustainable use of oil products is the adoption of particular approach that addresses this case. The changing fuel demands back-to-basics approach and the climatic actions approach are some of the recent development towards achieving sustainable use of the petroleum products. The rising prices has contributed highly to the costs and decreased the value added of all products. The products that have suffered from the increased costs of production due to rising oil prices include the products that are not only necessities, but also are also the petroleum itself and petroleum based products. Considering the annual costs of the petroleum products, refining alone accounts for more than $8 billion of the energy purchases in the United States, considering United States as one of the largest energy consuming economies in the globe.

The changing demand fuels back-to-basics approach recognizes the increased air quality and climatic changes demands and advocates for the use of technology, particularly the new developments in the automotive developments technology as well as the biotechnology, to tackle the new challenges of the refineries. One of the methods that this approach proposes in achieving sustainability in use of the petroleum products is the production of lighter petroleum products and the low sulphur automotive fuels that needs less amount of energy to convert. In the development, the demand for lighter product mix considering the new technologies has become the ultimatum of the recent oil productions and refineries. Although this approach is pulling a lot of pressure from the environment, safety, and quality standards, production of lighter petroleum products would highly enable sustainable use of oil and petroleum products in the future. Moreover, the high gas emissions from the greenhouse in the petroleum life cycle finalize with the final consumer making the energy use to become a major source of the environmental emissions in the refineries. Considering the above risks, the basic approach of energy efficiency improvements can be a relatively low-cost driven means for the refineries to reduce the petroleum gas emissions and cutting down the operating costs afterwards.

Between 2002 and 2012, the American Petroleum Institute (API) came up with the outlines of the climatic action challenges and the industrial commitments to improving efficiency of energy use by 10 percent. Notably, the energy industry’s background data imply that most petroleum refineries are best suited to improve the efficiency of energy by close to 20 percent thereby enhancing sustainability in this sector. More importantly, these data further suggest that through economic improvement of energy efficiency, millions of dollars can be saved and the high environmental benefits and oil use sustainability can be attained.

Improving energy efficiency through the adoption of new production technologies and sound management practices is among the best sustainability approaches that can help achieve the global goal of sustainable energy use. For instance, American refineries like Marathon Oil Corporation and Armstrong are collaborating in order to identify and capture the key aspects of saving energy and reducing emissions of the harmful gases like carbon dioxide as well as nitrogen oxide. By putting in place new energy efficient equipment and upgrades of the existing equipments, the two refineries aim to produce high-energy efficient petroleum products that would contribute to the sustainability of the oil and petroleum products in the end.

Needs help with similar assignment?

We are available 24x7 to deliver the best services and assignment ready within 6-8 hours? Order a custom-written, plagiarism-free paper

Get Answer Over WhatsApp Order Paper Now