Oil|Oil News and Videos
Cheapest Oil Limited asked:
A question often asked is “why is home heating oil not the same price as it was when crude oil was this price?”.
Such a question made headlines in NI (Northern Ireland) in late 2008. A home heating oil website that monitors the cheapest oil in Northern Ireland looked into whether there is a case to answer.
There may be discrepancies but the biggest reason for the difference is in the exchange rates (as oil is priced in dollars).
In November 2007, $64 would have been just over £30. In November 2008, $64 would be around £40. This sort of difference alone would mean oil priced at £300 in Northern Ireland one year could cost £400 the following year in Northern Ireland.
If the price of crude oil remains steady and the pound gains strength against the dollar then there is no reason why we can’t see even cheaper home heating oil.
For the UK, including Northern Ireland, the big question should not be how many dollars a barrel of oil is but how many pounds a barrel of oil is. Although the crude oil price has dropped quite a bit, consumers haven’t got the full benefit of it because oil is priced in dollars and the pound has been weak recently against the dollar. For example, anything that cost US$45 would translate as £22 in the summer but cost £30 now so the exchange rates have been working against the price drops of oil.
However there is only so far it can go. Oil distributors, including those in Northern Ireland, would be quick to point out that they sell kerosene, not crude oil and that other cost factors need to be taken into consideration. If the price of a barrel of oil was free, that doesn’t mean someone is going to get it refined into kerosene and deliver it to your house for free. There are costs that are going to be more static than the stock market prices.
DEANGELO
A question often asked is “why is home heating oil not the same price as it was when crude oil was this price?”.
Such a question made headlines in NI (Northern Ireland) in late 2008. A home heating oil website that monitors the cheapest oil in Northern Ireland looked into whether there is a case to answer.
There may be discrepancies but the biggest reason for the difference is in the exchange rates (as oil is priced in dollars).
In November 2007, $64 would have been just over £30. In November 2008, $64 would be around £40. This sort of difference alone would mean oil priced at £300 in Northern Ireland one year could cost £400 the following year in Northern Ireland.
If the price of crude oil remains steady and the pound gains strength against the dollar then there is no reason why we can’t see even cheaper home heating oil.
For the UK, including Northern Ireland, the big question should not be how many dollars a barrel of oil is but how many pounds a barrel of oil is. Although the crude oil price has dropped quite a bit, consumers haven’t got the full benefit of it because oil is priced in dollars and the pound has been weak recently against the dollar. For example, anything that cost US$45 would translate as £22 in the summer but cost £30 now so the exchange rates have been working against the price drops of oil.
However there is only so far it can go. Oil distributors, including those in Northern Ireland, would be quick to point out that they sell kerosene, not crude oil and that other cost factors need to be taken into consideration. If the price of a barrel of oil was free, that doesn’t mean someone is going to get it refined into kerosene and deliver it to your house for free. There are costs that are going to be more static than the stock market prices.
DEANGELO
Aug
15
Filed Under (Home And Family) by oil
Laura Ng asked:
What are the benefits of olive oil?
Olive oil contains monounsaturated fatty acids, or oleic acids, which can assist to lower blood cholesterol instead. Thus olive oil is a better choice than saturated fats. For those suffering from constipation, take more olive oil often as it helps to lubricate the intestines and eliminate waste from our bodies, thereby curing your constipation.
Olive oil also provides natural antioxidants (called polyphenols) which help to reduce the risk of heart disease and cancer.
Why are there so many kinds of olive oil ?
The flavor of olive oil varies, depending on the source, the variety of olive, the soil conditions, weather, etc. Some of the primary sources come from Spain, Italy, France, Greece, Turkey Portugal, Tunisia, Morocco, and California. Some olive oils are from a single variety of oils, but others, like most Italian oils, are blends of oils from different types of olives and from different countries.
How to differentiate among “Virgin”, “Extra virgin”, “Fine” and “refined” olive oil?
Oil extracted from the first pressing of ripe olives is classified as virgin. Extra virgin simply means an oil from the first pressing that is particularly low in acid - less than 1%. Virgin olive oil may have as much as 4% acid. Fino or fine olive oil is a blend of extra virgin and virgin olive oils, with an acid content not above 3%.
After the first pressing, more oil is extracted in subsequent operations using a combination of pressure, heat, and chemical solvents. These refined oils may be blended with virgin oil to replace some of the flavor lost in the processing, and are sold as pure olive oil or just olive oil.
In some countries, you may also stumble upon light olive oil, which is not lower in calories, but which has been so finely filtered as to remove most of its color and fragrance (and flavor). It has a higher smoke point than the other types of olive oil, though, so it is well suited to high-temperature frying.
For the best qualities, we should go for the “Virgin” or “Extra virgin” olive oil because they have a fruity and rich flavour, wouldn’t turn rancid so fast and are more easily digestible than refined oil.
They have the same nutritional level. However, lower acidity oils, such as extra virgin, tend to have more antioxidants.
Where is olive oil used?
Olive oil is the only vegetable oil to substitute butter and margarine in terms of healthier selection due to its delicious taste. Because of its pure state, extra virgin oil is often used as a dressing in salads or as a dip for breads.
Refined or light olive oil is suitable for deep frying. It may seem pricey to use it to fry food but the fact that such oil is four to five times more heat resistant than vegetable oil would mean you can reuse it to fry foods many more times before the oil begins to break down.
Will olive oil loses its nutritional value when heated ?
Olive oil, when heated at high temperature, will cause its alcohols and esters to evaporate. The esters are what make up the olive oil delicate taste and fragrance. So heat will only change the flavor of olive oil but not its nutritional contents. We recommend you use a cheaper olive oil like refined/light oil for frying and then add a more flavorful olive oil after cooking.
Will cooking in olive oil reduces the nutritional value of the food when heated ?
Heating food will break down its nutritional value. High heat such as frying is worse than moderate heat such as steaming, which is worse than eating vegetables raw. It is not the cooking oil per se, but the high heat of frying.
Most nutritionists recommend lightly steaming vegetables or eating them raw. A touch of a flavorsome olive oil added at the table will add taste and healthful anti-oxidants. This is what “Mediterranean diet” is about, which has been shown to help prevent coronary disease and have other health benefits.
How to store Olive oil ?
Keep away from heat, ie the stove, to prevent ageing of the oil. Better to keep a large container in a dark, cool cupboard and pour a small amount into a dispenser for everyday use. The container can be made of plastic, stainless or tinted glass.
Alternatively, you can store oil in the refrigerator or freezer, which will greatly extend its shelf life. Do not worry about the crystallized waxes in the oil when chilled. All you have to do is to warm the oil back to room temperature to melt it.
FLORENTINO
What are the benefits of olive oil?
Olive oil contains monounsaturated fatty acids, or oleic acids, which can assist to lower blood cholesterol instead. Thus olive oil is a better choice than saturated fats. For those suffering from constipation, take more olive oil often as it helps to lubricate the intestines and eliminate waste from our bodies, thereby curing your constipation.
Olive oil also provides natural antioxidants (called polyphenols) which help to reduce the risk of heart disease and cancer.
Why are there so many kinds of olive oil ?
The flavor of olive oil varies, depending on the source, the variety of olive, the soil conditions, weather, etc. Some of the primary sources come from Spain, Italy, France, Greece, Turkey Portugal, Tunisia, Morocco, and California. Some olive oils are from a single variety of oils, but others, like most Italian oils, are blends of oils from different types of olives and from different countries.
How to differentiate among “Virgin”, “Extra virgin”, “Fine” and “refined” olive oil?
Oil extracted from the first pressing of ripe olives is classified as virgin. Extra virgin simply means an oil from the first pressing that is particularly low in acid - less than 1%. Virgin olive oil may have as much as 4% acid. Fino or fine olive oil is a blend of extra virgin and virgin olive oils, with an acid content not above 3%.
After the first pressing, more oil is extracted in subsequent operations using a combination of pressure, heat, and chemical solvents. These refined oils may be blended with virgin oil to replace some of the flavor lost in the processing, and are sold as pure olive oil or just olive oil.
In some countries, you may also stumble upon light olive oil, which is not lower in calories, but which has been so finely filtered as to remove most of its color and fragrance (and flavor). It has a higher smoke point than the other types of olive oil, though, so it is well suited to high-temperature frying.
For the best qualities, we should go for the “Virgin” or “Extra virgin” olive oil because they have a fruity and rich flavour, wouldn’t turn rancid so fast and are more easily digestible than refined oil.
They have the same nutritional level. However, lower acidity oils, such as extra virgin, tend to have more antioxidants.
Where is olive oil used?
Olive oil is the only vegetable oil to substitute butter and margarine in terms of healthier selection due to its delicious taste. Because of its pure state, extra virgin oil is often used as a dressing in salads or as a dip for breads.
Refined or light olive oil is suitable for deep frying. It may seem pricey to use it to fry food but the fact that such oil is four to five times more heat resistant than vegetable oil would mean you can reuse it to fry foods many more times before the oil begins to break down.
Will olive oil loses its nutritional value when heated ?
Olive oil, when heated at high temperature, will cause its alcohols and esters to evaporate. The esters are what make up the olive oil delicate taste and fragrance. So heat will only change the flavor of olive oil but not its nutritional contents. We recommend you use a cheaper olive oil like refined/light oil for frying and then add a more flavorful olive oil after cooking.
Will cooking in olive oil reduces the nutritional value of the food when heated ?
Heating food will break down its nutritional value. High heat such as frying is worse than moderate heat such as steaming, which is worse than eating vegetables raw. It is not the cooking oil per se, but the high heat of frying.
Most nutritionists recommend lightly steaming vegetables or eating them raw. A touch of a flavorsome olive oil added at the table will add taste and healthful anti-oxidants. This is what “Mediterranean diet” is about, which has been shown to help prevent coronary disease and have other health benefits.
How to store Olive oil ?
Keep away from heat, ie the stove, to prevent ageing of the oil. Better to keep a large container in a dark, cool cupboard and pour a small amount into a dispenser for everyday use. The container can be made of plastic, stainless or tinted glass.
Alternatively, you can store oil in the refrigerator or freezer, which will greatly extend its shelf life. Do not worry about the crystallized waxes in the oil when chilled. All you have to do is to warm the oil back to room temperature to melt it.
FLORENTINO
