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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (96495)	7/10/2011 4:14:27 PM
From: Wharf Rat	Read Replies (1) \| Respond to of 149317

It's mostly going nowhere; accumulating. The refineries with access to it are already processing as much as they can. They have no additional demand they can add. They are already making a killing; refined products have a spread of $34 over WTI. They get cheap oil and they sell at world market prices. bloomberg.com Oil coming in from Canada tar sands was supposed to go to the Gulf. Now Bakken oil is supposed to do the same.There is no pipeline to the Gulf., so it accumulates. Sooner or later, somebody far away will buy trainloads of Cushing, pay $10 for shipping, and make $24.