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nemo - that article is TOTAL BS !!! -> Re: Americans have been told for years that if only we drilled more oil, we would see a drop in gasoline prices.

By: monkeytrots in POPE IV | Recommend this post (0)
Wed, 25 Jan 17 6:43 AM | 47 view(s)
Boardmark this board | POPES NEW and Improved Real Board 		Msg. 18919 of 47202
(This msg. is a reply to 18903 by capt_nemo)
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Brent Crude trades at a premium to WTI for one reason and one reason only. The GEOGRAPHY of supply and demand.
Both are light sweet crudes, and HISTORICALLY WTI trades at a PREMIUM OVER BRENT - not at a $20/barrel (a blatant lie - total propaganda) discount to BRENT.

So that particular article in zerohedge is not only FALSE - they can also blow it out their butts. TOTAL BULLSHIT.

Source: http://commodityhq.com/education/crude-oil-guide-brent-vs-wti-whats-the-difference/

With these two key factors, investors can begin to price these different types of oil on the world market. Currently, there are two major benchmarks for world oil prices, West Texas Intermediate (WTI for short) and Brent crude oil. Both are light, sweet crude oils although WTI is generally sweeter and lighter than its European counterpart. As a result of this, WTI often trades at a premium, usually by just a few dollars a barrel. However, thanks to a Libyan crisis, which has decreased the supply of light, sweet crude in the European region, and a supply glut at the main storage facility of WTI in Oklahoma, the premium/discount situation has flipped and now Brent is more expensive than WTI.

And that doesn't even address the readily egregious lie about $4.00+ per gallon gasoline that others have already commented on.




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The above is a reply to the following message:
Americans have been told for years that if only we drilled more oil, we would see a drop in gasoline prices.
By: capt_nemo in POPE IV
Wed, 25 Jan 17 5:20 AM 		Msg. 18903 of 47202

The U.S. is now selling more petroleum products than it is buying for the first time in more than six decades. Yet Americans are paying around $4 or more for a gallon of gas, even as demand slumps to historic lows. What gives?

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Americans have been told for years that if only we drilled more oil, we would see a drop in gasoline prices.

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But more drilling is happening now, and prices are still going up.That’s because Wall Street has changed the formula for pricing gasoline

http://www.zerohedge.com/news/2017-01-24/why-keystone-pipeline-will-actually-raise-gas-prices-us


just 1 comment,,,,,,


Free Man's picture
Free Man Jan 24, 2017 5:05 PM

Dubious reasoning.

At first that may be true, but as more & more reaches the international market and supply is increased prices will drop.

BTW: US oil companies make ca. five cents off a gallon of gas, on the other hand government taxes on a gallon of gas are around seventy-one cents with some variation by state.

Now who is plundering the public?

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