The economic and political significance of waste oil recycling

5%~10% matter in waste oil can not be reused, but other 90%~95% matter can be reused, so that waste oil recycling has become a very effective way to solve our current energy predicament. Yield of refined base oil products from petroleum is very low; production of base oil products from waste oil is more economic. In recent years, China’s average annual imports of crude oil and lubricating oil are more than 200 million tons and 2 million tons, and the origin of imported crude oil is often affected by political factors. Therefore, waste oil recycling not only has important economic significance and environmental significance, but also has important political significance.

Various government policy alternatives are examined to control the operation of the waste oil market. The objective of these policies in whatever form they are exercised, is to increase recovery, to increase the quantity of waste oil that is re-refined, and to reduce the quantity of waste oil that is burned under uncontrolled conditions. The analysis shows that many proposed policy alternatives intended to increase recycling could actually result in a reduction in quantities of waste oil that are recycled. This seeming anomaly results from the fact that many of the policies provide indirect incentives to increased recycling. It is concluded that only by providing direct incentives can policymakers be assured that increased waste oil recycling will be achieved.

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Post time: Nov-20-2018