ChoppedLiver
New member
It costs about $12 a barrel to ship that crude south by (Berkshire-Hathaway) trains as opposed to less than 5 bucks by pipeline.
The pipeline will ship that as well as our oil produced in the Dakotas to our refineries in the lower Illinois area and in Oklahoma and Texas and even overseas.
That would be way, way better than buying that sludge from Venezuela or crude oil from countries that hate us.
When renewable ("green") energy becomes more readily available, we will use them.
Until then, we need to use what we already have.
More at...
http://www.foxbusiness.com/markets/2016/01/07/oil-slides-below-33-on-china-turmoil/vvvv
Here's what happens (often) when crude oil is shipped by train...
The pipeline will ship that as well as our oil produced in the Dakotas to our refineries in the lower Illinois area and in Oklahoma and Texas and even overseas.
That would be way, way better than buying that sludge from Venezuela or crude oil from countries that hate us.
When renewable ("green") energy becomes more readily available, we will use them.
Until then, we need to use what we already have.
Published January 07, 2016
·Dow Jones Newswires
Light, sweet crude for February delivery settled down 70 cents, or 2.1%, at $33.27 a barrel Thursday on the New York Mercantile Exchange, the lowest settlement since February 2004.
Brent, the global benchmark, settled down 48 cents, or 1.4%, at $33.75 on ICE Futures Europe, the lowest level since June 2004.
Heavier grades of oil, which typically trade at a discount to the benchmarks, have hit more dramatic lows. Western Canadian Select, the benchmark for heavy crude from the Canadian oil sands, traded about $14 a barrel below the U.S. benchmark Wednesday, putting its price in the teens.
More at...
http://www.foxbusiness.com/markets/2016/01/07/oil-slides-below-33-on-china-turmoil/vvvv
Here's what happens (often) when crude oil is shipped by train...