07 Mar '12, 2pm

Why High Oil Prices Are Now Affecting Europe More Than the US

Why High Oil Prices Are Now Affecting Europe More Than the US

Figure 3 shows two different benchmark prices of crude oil in the United States: Brent and West Texas Intermediate (WTI). Oil that is imported to the United States from Europe and Africa can be expected to follow Brent prices, as will oil that is produced along the Gulf Coast, and has convenient access to Gulf Coast refineries. Oil that comes from the North, such as crude from Canada and the Bakken, is subject to pipeline limitations, and its price will tend to follow that of WTI (or trade for an even lower price than WTI). Oil purchased by US refineries thus reflects a blend of WTI and Brent prices, and perhaps some lower ones as well. Based on Figure 3, it is clear that the current prices are far below the 2008 price peak, quite unlike the situation shown in Figure 2 for Europe, with Brent priced in Euros.

Full article: http://www.theoildrum.com/node/8998

Tweets

Peak Oil Crisis: East Coast Refineries Redux

Peak Oil Crisis: East Coast Refineries Redux

postcarbon.org 07 Mar '12, 1pm

It has been six weeks since we last discussed the problems that could be in store for the U.S.'s East Coast due to closing...

What Makes Gasoline Prices Go Up?

green.blogs.nytimes.com 07 Mar '12, 10pm

Energy Information Administration, Petroleum Supply Monthly The United States exported more petroleum products than it imp...

Sky-high COE prices push consumers toward used ...

sg.news.yahoo.com 08 Mar '12, 3am

Singaporeans said surging Certificate of Entitlement (COE) prices are likely to deter them from buying new cars and instea...

Green Blog: What Makes Gasoline Prices Go Up?: ...

green.blogs.nytimes.com 07 Mar '12, 11pm

Energy Information Administration, Petroleum Supply Monthly The United States exported more petroleum products than it imp...

Green Blog: Spike in Food Prices Projected by 2...

green.blogs.nytimes.com 07 Mar '12, 3pm

Bloomberg News A driver of higher food prices? Yeast propagation tanks outside an ethanol plant in Underwood, N.D. In 2008...

Spike in Food Prices Projected by 2013

green.blogs.nytimes.com 07 Mar '12, 2pm

Bloomberg News A driver of higher food prices? Yeast propagation tanks outside an ethanol plant in Underwood, N.D. In 2008...

Bill O'Reilly is Misinforming Americans About O...

theoildrum.com 04 Mar '12, 4pm

O'Reilly: But of course, they are not lower. They are much higher because the oil companies are shipping their products ov...

High gas prices? Whatevs — my phone gets me whe...

grist.org 01 Mar '12, 12pm

This is a stick-up. Give me your car keys or your cell phone. I don’t care which. What’s it gonna be, pal? For a growing n...

High gas prices? Whatevs — my phone gets me whe...

grist.org 01 Mar '12, 8pm

This is a stick-up. Give me your car keys or your cell phone. I don’t care which. What’s it gonna be, pal? For a growing n...

#china #supplychain 'Peak Oil' is back with a v...

todayonline.com 05 Mar '12, 10pm

Oil spikes usually metastasise once energy costs reach 9 per cent of global GDP. The longer they stay there, the greater t...

Buy HIGH sell LOW, Huh?

thefinance.sg 07 Mar '12, 3am

Buy HIGH sell LOW, Huh? by Patrick See on March 7, 2012 A sea of red from Asia, UK, Europe and to the US…. It was just onl...

Why are oil prices going up? | Energy << Speculators or intrinsic problem?

Why are oil prices going up? | Energy << Specul...

greenbang.com 04 Mar '12, 5pm

“You know there are no quick fixes to this problem. You know we can’t just drill our way to lower gas prices. If we’re goi...

Under Bush, high gas prices = evil cronyism. Un...

ace.mu.nu 17 Mar '12, 2am

Democratic Forays into Erotica New Shows On Gore's DNC/MTV Network Nicknames for Potatoes, By People Who Really Hate Potat...

Plateau Oil meets 125m Chinese cars | Peak Oil News and Message ...: Plateau Oil meets 125m Chinese cars. Platea...

Plateau Oil meets 125m Chinese cars | Peak Oil ...

peakoil.com 04 Mar '12, 10pm

The unpleasant fact we must all face is that the relentless supply crunch – call it `Peak Oil’ if you want, or `Plateau Oi...

COE prices down for most categories #Singapore

sg.news.yahoo.com 07 Mar '12, 10am

Overseas investments did not make money, because they put pea brains in the top managements. So they have no choice but to...