Gas is Not a Gas

Soon after oil was found in Pennsylvania during 1859, John Cassell, publisher and coffee merchant, began importing it to London. Cassell came up with a name for the substance, inspired by his own name, cazeline. On 27 November 1862 he placed an advertisement in The Times that stated, "The Patent Cazeline Oil, safe, economical, and brilliant … possesses all the requisites which have so long been desired as a means of powerful artificial light.

The first use of gasoline to be found in America is in an 1864 Act of Congress which declared a tax on the oil.

Cassell discovered a shopkeeper in Dublin, Samuel Boyd selling counterfeit cazeline and wrote to him to ask him to stop. Boyd did not reply, but instead went through his stock, changing with a single dash of his pen, every ‘C’ into a ‘G’ and gazeline was born.

Gas Prices

According to Bloomberg, WTI oil is at $49.61 per barrel, and Brent is at $49.60 per barrel. On Memorial Day 2015, Brent was at $65.37 per barrel, and two years ago Brent was at $110.01.

Gas Facts

Gas is one derivative of crude oil. Heat from one gallon of gas is enough to power a 1,500-watt space heater on full blast for 24-hours. If it were possible for humans to digest gasoline, a gallon would contain about 31,000 food calories. That is about equivalent to the energy in about 110 McDonald's hamburgers.

Gas Prices

When the price of crude oil goes up a dollar, the price we pay per gallon goes up about 2.5 cents a gallon. When you read about oil going up to a hundred dollars a barrel in the next few weeks, you can expect to pay about 25 cents more at the pump.