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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: energyplay who wrote (1461)	10/23/2005 2:59:04 AM
From: Elroy Jetson	Respond to of 218539

The definition of Sour Crude has changed slowly over time. There may be a specific definition required to meet a contract, such as Brent Light or West Texas Intermediate, or California Heavy, but apart from a specific contract, there is no universally accepted definition of Sour Crude. At one time Sweet Crude had less than 0.25% sulfur, then later less than 0.5% sulfur. Today Sour Crude Oil is generally meant to be oil with more than 2.5% sulfur, unless you happen to mean something else. I have no doubt that the term Sweet Oil will eventually come to mean oil with less than 5% sulfur. After 1993, EPA requirements divided refined products into those with less than 0.5% sulfur and those with more than 0.5% which cannot be used in some regions. But this has no connection to the meaning of Sour Crude. During the last oil crisis in the 1974 to 1982 period, President Carter asked refiners to upgrade to handle a wider range of crude for the security of the nation. Many did and this solution worked too well. We went from having a shortage of oil with lines at gasoline stations, to having far more oil than people needed. Of course the oil was always there, but after the refinery upgrades more of it could be used. .