2010s oil glutThe 2010s oil glut was a significant surplus of crude oil that started in 2014–2015 and accelerated in 2016, with multiple causes. They include general oversupply as unconventional US and Canadian tight oil (shale oil) production reached critical volumes, geopolitical rivalries among oil-producing nations, falling demand across commodities markets due to the deceleration of the Chinese economy, and possible restraint of long-term demand as environmental policy promotes fuel efficiency and steers an increasing share of energy consumption away from fossil fuels.
OverexploitationOverexploitation, also called overharvesting, refers to harvesting a renewable resource to the point of diminishing returns. Continued overexploitation can lead to the destruction of the resource, as it will be unable to replenish. The term applies to natural resources such as water aquifers, grazing pastures and forests, wild medicinal plants, fish stocks and other wildlife. In ecology, overexploitation describes one of the five main activities threatening global biodiversity.
MicrofiberMicrofiber (microfibre in British English) is synthetic fiber finer than one denier or decitex/thread, having a diameter of less than ten micrometers. The most common types of microfiber are made variously of polyesters; polyamides (e.g., nylon, Kevlar, Nomex); and combinations of polyester, polyamide, and polypropylene. Microfiber is used to make mats, knits, and weaves, for apparel, upholstery, industrial filters, and cleaning products.
1973 oil crisisIn October 1973, the members of the Organization of Arab Petroleum Exporting Countries (OAPEC), led by King Faisal of Saudi Arabia, proclaimed an oil embargo targeted at nations that had supported Israel during the Yom Kippur War. The initial nations targeted were Canada, Japan, the Netherlands, the United Kingdom and the United States, though the embargo also later extended to Portugal, Rhodesia and South Africa. By the end of the embargo in March 1974, the price of oil had risen nearly 300%, from US to nearly globally; US prices were significantly higher.
Sugar refineryA sugar refinery is a refinery which processes raw sugar from cane or sugar extracted from beets into white refined sugar. Cane sugar mills traditionally produce raw sugar, which is sugar that still contains molasses, giving it more colour (and impurities) than the white sugar which is normally consumed in households and used as an ingredient in soft drinks and foods. Raw cane sugar does not need refining to be palatable. It is refined for reasons such as health, color, and the requirement for a pure sugar taste.
DecaffeinationDecaffeination is the removal ("de-") of caffeine from coffee beans, cocoa, tea leaves, and other caffeine-containing materials. Decaffeinated products are commonly termed by the abbreviation decaf. Decaffeinated drinks contain typically 1–2% of the original caffeine content, and sometimes as much as 20%. Friedlieb Ferdinand Runge performed the first isolation of caffeine from coffee beans in 1820, after the German poet Goethe heard about his work on belladonna extract, and requested he perform an analysis on coffee beans.
Overconsumption (economics)Overconsumption describes a situation where a consumer overuses their available goods and services to where they can't, or don't want to, replenish or reuse them. In microeconomics, this may be described as the point where the marginal cost of a consumer is greater than their marginal utility. The term overconsumption is quite controversial in use and does not necessarily have a single unifying definition. When used to refer to natural resources to the point where the environment is negatively affected, is it synonymous with the term overexploitation.
CourtauldsCourtaulds was a United Kingdom-based manufacturer of fabric, clothing, artificial fibres, and chemicals. It was established in 1794 and became the world's leading man-made fibre production company before being broken up in 1990 into Courtaulds plc and Courtaulds Textiles Ltd. The company was founded by George Courtauld and his cousin Peter Taylor (1790–1850) in 1794 as a silk, crepe and textile business at Pebmarsh in north Essex trading as George Courtauld & Co.
