Re: Starting to feel the pinch
As far as US oil going to foreign markets, they originally had a provision banning export of North Slope oil until they figured out how stupid it was. North Slope oil is high in sulphur content, and many Asian and Japanese refineries handle it fine, and we can utilize the low sulphur crude they would normally buy.<br /><br />The oil market is a world market, and different refineries are better set up to handle different grades of crude. Artificial restrictions are just plain silly and costly to all involved.<br /><br />As far as oil companies making a profit, welcome to the world of capitalism, my friend.<br /><br />As far as the Bushies are concerned, it is not relevant to this discussion.