Fuel is the highest tier of fuel when used in a combustion engine. It produces far more than a bucket of both oil and lava.
Fuel has no EMC value, because there is no item with any EMC value to compare it with.
Combustion engines can be powered with fuel and be connected to wooden conductive pipes to generate BC power, enabling you to power a quarry from a distance without the risk of an explosion generally associated with combustion engines.
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