Re:Texas Is About to Create OPEC’s Worst Nightmare
by jessaustin on Wednesday November 21, 2018 @05:05PM
(#18506488)
"refineries in the US are not designed for the same oil"
"oil is fungible on the world market"
In the medium term, these two statements contradict each other. If all it takes to avoid a 1970s-style OPEC crisis is to update the facilities at a few refineries, that job will get done. Actually, that job will probably get done anyway, because after all, shipping oil overseas isn't free.
"oil is fungible on the world market"
In the medium term, these two statements contradict each other. If all it takes to avoid a 1970s-style OPEC crisis is to update the facilities at a few refineries, that job will get done. Actually, that job will probably get done anyway, because after all, shipping oil overseas isn't free.