We can't use our own cheaper crude as gas prices rise

| | Comments (0)

The benchmark for crude oil prices is West Texas Intermediate.

The price of West Texas Crude continues to stay low because our economy is more of a mess than other places and demand for fuel here is weak.

Unfortunately, most of our refineries are set-up to process grades of oil from foreign sources that are normally cheaper than our own crude so the infrastructure isn't in place to pipe and process our own cheaper crude beyond Texas.

Not that it would matter much because refiners are also reducing production to avoid taking losses on gasoline no one will buy. The reduced production causes prices to rise. AP

I will leave you with a chorus of "Drill baby drill !"

Leave a comment


Type the characters you see in the picture above.

Powered by Movable Type 4.25

About this Entry

This page contains a single entry by Paul Kuehnel published on February 17, 2009 12:14 AM.

It's reality time for the Detroit 3 and 305 million Americans was the previous entry in this blog.

VIDEO 'Black history is U.S. history' is the next entry in this blog.

Find recent content on the main index or look in the archives to find all content.