Oil Prices

About: oil prices - google news

66,800 stories on this topic today. The hot air in Washington D.C. is likely to turn this into maybe even a cat-7 news-hurricane.  Meanwhile items such as who is gouging whom will get burried underneath the rubble. (sorry about the link to commentary) NOT! There are some stories that focus on the taxes at the pump. I have heard that the oil companies make about 7 cents to taxes at 40 cents. The above link is watching it more closely.  

Tags

  1. oil prices
  2. big oil
  3. taxes

Comments

Mark de LA says
It might be nice to study the effect of oil as a global market, China & India in that market & the effects of environmentalism on the whole economy.  Here is something on the loss of refineries & the global market: http://www.ft.com/intl/cms/s/0/256f583c-7a83-11e1-8ae6-00144feab49a.html#axzz1rcQAJPtJ
source: ... High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. http://www.ft.com/cms/s/0/256f583c-7a83-11e1-8ae6-00144feab49a.html#ixzz1rfCn4YPb

US crude production is at its highest in eight years, helping reduce imports. But the US petroleum market is at once global and regional, underscoring how simplistic ideas of energy independence can be in internationally traded commodity markets. The Gulf of Mexico coast, home to 43 per cent of refining capacity and able to consume cheaper crudes, has turned the US into a net exporter of petroleum products for the first time since at least 1949. The inland US, enjoying a surfeit of fresh crude supplies, has been selling discounted petrol into landlocked markets. The west coast is isolated from the rest of the country, while the east coast has historically relied on imported fuel. “The US is really four markets when it comes to products,” says Ed Morse, head of commodities research at Citigroup and a former US oil official.

If its refineries close as planned, the east coast will become even more dependent on imported petrol.


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