NEW YORK, NY -- (Marketwire) -- 03/23/12 -- According to the American Petroleum Institute (API), more than 600 million gallons of motor oil is purchased each year. Joseph Franceschi, an engineer at Universal Lubricants believes the proven technology "reduces imported oil," with less energy expended than refining a product from "virgin" crude oil. Current estimates are that it takes 42 gallons of crude oil, but only 1 gallon of used oil, to produce 2.5 quarts of new, high-quality lubricating oil.
It is estimated that one gallon of used motor oil improperly disposed of may contaminate 1 million gallons of fresh water -- enough to supply 50 people with drinking water for one year. One pint of used motor oil improperly disposed of can create a one-acre slick on the surface of a body of water and kill floating aquatic organisms.
More companies are focusing on using motor oil for reconditioning and repurposing. Valvoline (ASH), has launched NextGen, a "green" motor oil made with 50% recycled oil, AER Energy (PINKSHEETS: AERN) brokers used motor oil from over 4,000 automotive service centers for recycling, and Universal Lubricants has a recently built a 12 million gallon re-refinery in Kansas to transform discarded oil into a viable, cleaner product.
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