Re: 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.
Msg. 18922 of 47202 (This msg. is a reply to
18919 by
monkeytrots)
Jump:
Dont shoot the messenger. Like I said BEFORE. I just post whats out there. Take what you like and leave the rest.............or call it bullchit Like you did. Congrats,,,,,,,,,,,,
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
- - - - - The above is a reply to the following message:
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 Wed, 25 Jan 17 6:43 AM
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.
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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