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I don't think that's a fair statement. There are still a lot of benefits that even a casual drivers can appreciate. Lower temperatures and dramatically increased lubricity are going to reduce wear on metal parts and prolong the life of seals. Even though it's twice as much in relative terms...

Not the synthetics, obviously. While there are a few processes that use petroleum as a base for the creation of synthetic oil, most are done completely with chemical raw materials. Synthetic oils have way better mechanical properties. Significantly less friction, more resistant to oxidation...