Originally Posted by T_O_M
Originally Posted by 673
Originally Posted by Burleyboy
Do you think any of this will push oil prices higher? We were in town yesterday and I pulled unto cistco to fuel up even though I was only down about 5 gallons. I told the wife and kids I feel like we need to keep our tanks full because any day there could be shipping attacked in the gulf that will send oil prices through the roof.

Bb
I was wondering about that too, but then I am puzzled about......if the USA for example, can supply its own energy needs regarding oil, then why don't they just do that?

Just wondering the need for any oil rich Country to depend on towel heads for anything.


There are different grades of crude. Our refineries are set up for "heavy/sour". (Basically means a lot of impurities to refine out.) The shale oils are "light/sweet". It takes a large investment to convert the refineries to use the other grades of oil. It's more cost effective for us to import the oil our refineries are already set up to process and export that which we are not. ... or so I am told.
I am told the same, but then alot of people say alot of things.