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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: 1615297" data-attributes="member: 3099"><p>It really doesn't work that way. You have the oil companies (the producers) and then you have the refiners. Most people don't know that the Exxon Mobils of the world sell their crude. They don't refine it themselves. There are exceptions and they do have subsidiary companies that refine, but they are ran as separate entities. They will also sell off these refinery companies at the drop of a hat when the profit margin drops. They change hands all the time. Since the refiners have to buy the crude on the open market, naturally they are going to take the cheapest path. It's a complex issue. The Saudi's have some the the lightest (sweetest) crude on the planet. Some of the Canadian oil isn't too far behind. South America has alot of oil but it's generally a nasty heavy crude that's harder to refine (read costs more). There are a whole bunch of factors that affect the bottom line of a refiner and oil companies. Pipelines are beneficial to both and that translates to us too at the pump.</p></blockquote><p></p>
[QUOTE="Shadowrider, post: 1615297, member: 3099"] It really doesn't work that way. You have the oil companies (the producers) and then you have the refiners. Most people don't know that the Exxon Mobils of the world sell their crude. They don't refine it themselves. There are exceptions and they do have subsidiary companies that refine, but they are ran as separate entities. They will also sell off these refinery companies at the drop of a hat when the profit margin drops. They change hands all the time. Since the refiners have to buy the crude on the open market, naturally they are going to take the cheapest path. It's a complex issue. The Saudi's have some the the lightest (sweetest) crude on the planet. Some of the Canadian oil isn't too far behind. South America has alot of oil but it's generally a nasty heavy crude that's harder to refine (read costs more). There are a whole bunch of factors that affect the bottom line of a refiner and oil companies. Pipelines are beneficial to both and that translates to us too at the pump. [/QUOTE]
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The Problem in Cushing (Oil Glut)
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