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The Water Cooler
General Discussion
The Problem in Cushing (Oil Glut)
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<blockquote data-quote="Shadowrider" data-source="post: 1615272" data-attributes="member: 3099"><p>It's flowing in because it's $85 oil vs. the alternative of $121 oil. They are doing something with it, otherwise it wouldn't be flowing in.</p><p></p><p>The crux of the matter is the .gov holding up the pipeline. They would rather have the Houston refineries bring in the $121 oil by tanker ship AND have to deal with the extra refining costs of the lesser quality crude from South America. It's a double whammy on keeping the cost of fuel up so they can paint big oil as a boogie man. It also keeps us using oil from countries that aren't real friendly with us (think Venezuela) instead of a friendly country like Canada.</p></blockquote><p></p>
[QUOTE="Shadowrider, post: 1615272, member: 3099"] It's flowing in because it's $85 oil vs. the alternative of $121 oil. They are doing something with it, otherwise it wouldn't be flowing in. The crux of the matter is the .gov holding up the pipeline. They would rather have the Houston refineries bring in the $121 oil by tanker ship AND have to deal with the extra refining costs of the lesser quality crude from South America. It's a double whammy on keeping the cost of fuel up so they can paint big oil as a boogie man. It also keeps us using oil from countries that aren't real friendly with us (think Venezuela) instead of a friendly country like Canada. [/QUOTE]
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