For the scientific explanation see:
The calming effect of oil on water
American Journal of Physics -- May 2007 -- Volume 75, Issue 5, pp. 407-414
Issue Date: May 2007
Abstract:
The
calming effect of oil on water has been known since
ancient times. Benjamin Franklin was the first to investigate the
effect, but the underlying mechanism for this striking phenomenon remains
elusive. We used a miniature laser interferometer to measure the
amplitude of surface waves to a resolution of ±5 nm, making
it possible to determine the effect of an oil monolayer
on the attenuation of capillary waves and the surface dilational
modulus of the monolayer. We present attenuation data on pure
water, water covered by olive oil, water covered by a
fatty acid, and a water-acetone mixture for comparison. From the
attenuation data at frequencies between 251 and 551 Hz, we conclude
that the calming effect of oil on surface waves is
principally due to the dissipation of wave energy caused by
the Gibbs surface elasticity of the monolayer, with only a
secondary contribution from the reduction in surface tension. Our data
also indicate that the surface-dilational viscosity of the oil monolayer
is negligible and plays an insignificant role in calming the
waves.
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Those ol' salts of yester-year weren't so dumb afterall.