Business Insider article 3/6/2018 12:55:18 The greasy grease industry is in serious trouble.
According to a report by Bloomberg New Energy Finance, grease monkey oil companies are facing a glut of the toxic grease that they produce, which is used in everything from electrical transformers to food and beverage products.
“As of the end of 2017, there were roughly 500 billion pounds of the oil, according to industry estimates, which means that companies are producing almost four times as much as they need to meet demand,” Bloomberg wrote.
“Oil companies are relying on oil markets to keep their businesses afloat.”
The report said that these shortages have forced oil companies to sell their excess supply of oil.
The shortage has led to increased competition for the industry’s raw materials and has contributed to a drop in prices.
The greasiness oil industry is the biggest source of greenhouse gas emissions in the United States, with an estimated 6,000 oil and gas jobs and a projected 5.5 million oil and gasoline jobs by 2030, according the New York Times.
The report also noted that there is an “unprecedented supply shortage” for natural gas.
That’s because oil companies have been forced to use natural gas to extract the oil they need.
The problem for grease monkey producers, however, is that the natural gas they need is also becoming harder and harder to find.
Bloomberg reports that there are fewer than two million natural gas wells in the US, which amounts to less than 1 percent of the country’s gas production.
This shortage, in turn, has led grease monkey companies to shift to other types of oil, like crude oil.
While the shortage is a huge problem for the greasiest companies, it has also contributed to an increase in production and increased prices.
As the industry has seen a decline in oil prices, companies have responded by increasing production and cutting prices.
However, this may not be sustainable for the next five years, according Bloomberg.
Bloomberg reported that the next four years for the grease monkey industry are likely to be a “dramatic decline in production” and that prices will continue to drop.