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Gold/Mining/Energy : Big Dog's Boom Boom Room

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DewDiligence_on_SI

To: Bearcatbob who wrote (184187)	6/1/2014 9:07:50 PM
From: Biomaven	1 Recommendation of 206200

>>can we not be a "king of refining"? There is a mismatch between the type of oil the existing refiners are built to handle and the type of oil (very light crude) currently in surplus domestically. It makes economic sense to export some of the very light crude and import some heavy crude in its place. Yes, when you put artificial restrictions on trade, some sectors will benefit and some will be hurt. But net net there is a loss overall. Thus you see the chemical industry lobbying against LNG exports. Refiners that can handle light oil will doubtless be lobbying against export, as will owners of Jones Act tankers. So when you see an article lobbying for continuing restrictions, you have to look who is paying them. Allowing exports of light oil would significantly raise the price that light oil producers will get. Brent is currently tracking $5/BBL over the equivalent grade oil (LLS) at the Gulf Coast. Peter

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