You are correct, Bart.
So why, then, is oil such a poor heat conductor and water a much better heat conductor? It seems like water takes a lot of energy to heat up - which is why the thermostat is there, to limit the amount of water needed to be heated - but is also very willing to exchange the heat absorbed with the air surroning it. Oil, OTOH, takes less than half the energy to heat yet is unwilling to lose the heat it's absorbed. To me, this doesn't seem logical as you usually think fast in/fast out (or the opposite). Obviously, there are much more to this than my lacking logic have grasped.
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