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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 395.80+0.1%Dec 15 4:00 PM EST
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To: Cogito Ergo Sum who wrote (83342)11/17/2011 9:09:44 PM
From: Hawkmoon  Read Replies (2) of 218509
 
Inherent fallacy in that argument. The US handles heavier "sour" crude, primarily from Venezuela..

In 2004, 75% of US refineries were geared toward refining sour crude..

gasandoil.com

However, as I recall.. one of the rationales for overthrowing Qadaffi, was that Europe was more dependent upon light, sweet crude, the primary source of which was Libya.

Hawk
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