Consider the following statements: I. Pine oil is used as an antifoaming agent in emulsion paints. II. Protective colloids are used in emulsion paints to reduce their stability. III. Driers with drying oil contents are added to emulsion paints to accelerate the drying process. Which of the above statements is/are correct?

Statement I is correct: pine oil is used in emulsion paints as an antifoaming (defoamer) agent to prevent foam formation during manufacture and application. Statement II is incorrect: protective colloids are added to emulsion paints to increase (not decrease) their stability by preventing coagulation of dispersed particles. Statement III is correct: driers (metal salts of organic acids) with drying oils are added to accelerate oxidative polymerisation and thus speed up drying of the paint film. Hence statements I and III are correct.