Better Fill up today

frawin · September 01, 2011, 02:53:50 PM

Charlie, Arkansas has 2 refineries that are supplied by some Arkansas Crudes and some from WTI and LAsweet crudes. The article you attached is interesting, I don't know if you are aware that ConocoPhillips has divested of all of their Service Stations and will soon be divested of all of their Refineries which are being moved to a new seperate company, the Phillips Seaway Pipeline interest will probably go with the new refining company. Brent Crude has always been higher than WTI, Brent is a very High Quality Crude and Virtually all of the Refining Capacity in Europe requires Sweet Crude. In the US we have lots of Refining Capacity that can utilize the High Sulfur Low Gravity crudes which are much cheaper.
Charlie I don't think that Gasoline is so much higher as compared to crude historically.
I have seen a lot of changes in the 41 years since I started with Phillips, I think when I started WTI at the lease in West Texas was $2.67 per barrrel.
Charlie the biggest factor in higher crude prices and energy costs is all of the trade agreements that Bill Clinton made with the Chinese. We sent the Chinese jobs and now they are out bidding us for crude. China did not used to be afdactor at all in the crude oil market. Now they are the 2nd largest consumer of crude oil in the world and will soon pass us as the largest. GM built more cars in China last year than they did in America. The US has a day of reckoning coming in energy costs, we can't keep driving big V-8s for pleasure.
I probably haven't answered your question but maybe we can discuss it more later.
One additional comment, I get so tired of the KNOW NOTHINGS cussing big oil when they know nothing about it. Nearly all of the worlds original oil fields were developed by the American oil companys.

frawin · September 01, 2011, 02:55:55 PM

Crude settled at $88.93, up $0.12.

frawin · September 02, 2011, 06:29:55 AM

Crude is trading at $88.01, down $0.92.

frawin · September 02, 2011, 10:10:48 AM

Crude is trading at $87.15, down $1.78. If the market stays this way thru settle, I look for our neighborhood price to go down tomorrow, it is currently $3.48.

frawin · September 02, 2011, 02:05:57 PM

Crude settled at $86.45, down $2.48 on the day. Pump prices will be down at Quik-Trip tomorrow.

frawin · September 06, 2011, 06:23:23 AM

Crude is trading at $83.94, down $2.51.

frawin · September 06, 2011, 01:47:00 PM

Crude settled at $86.02, down $0.43 on the day.

frawin · September 07, 2011, 08:13:54 AM

Crude Oil is trading at $88.21, up $2.29.

frawin · September 07, 2011, 11:42:06 AM

Crude Oil continues to move higher with a large volume of contracts, currently trading at $89.34, up $3.32.

frawin · September 07, 2011, 04:57:33 PM

Crude oil settled at $89.34, up $3.32 on the day.