Heading out,
  How much of these heavy oils are currently being "cracked" and how much are used as is for lubricants or chemical/plastic production?  I took organic chem almost six years ago but are the heavy liquids not more valuable for producing goods than burning?
 matt
The heavy oils cannot be used straight for lubricating fluids, and it's a relatively small market anyway.  For petrochemical usage, the lighter LPG and naptha fractions are used as feedstocks, along with a lot of natural gas.