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So Where Do You Buy Your Gas From?


PTS

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I am still waiting for the link to that great oil conservation and fuel economy rules.

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He was obviously not talking about CAFE, which was frozen in Congress during the Clinton years, but probably referring to PNGV, which was cancelled by GWB in favor of "Freedom CAR" (a rose by any other name...).

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I am still waiting for the link to that great oil conservation and fuel economy rules.

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I'm still waiting for the contrary. You look it up if you know how... Clinton put forth great mpg, technology, and conservation policies before congress. You can't deny the facts. Gee, you must be Carl Rove in the flesh!

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The logistics of importing domestic oil are just too hard to fathom.

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Not if you use illegal aliens to refine your imported domestic oil in their native countries. It lets you get around the export tarifs for your imported domestic product. It's basic eco-dynamics.

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Not if you use illegal aliens to refine your imported domestic oil in their native countries.  It lets you get around the export tarifs for your imported domestic product.  It's basic eco-dynamics.

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I think you are on to something here.

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Isn't oil purchased by companies from the commodities exchange anyway?

 

Kind-of-sort-of-but-not-really.  And even if it is, it doesn't have to be.  BP can contract directly with Kuwait's drilling company without going through the exchange.  (True for most exchange items anyway...if I own 100 IBM and you want to buy it from me, we can strike a deal and trade it without the NYSE ever even knowing.  Happen all the time...albiet with far larger lots than 100 shares, and usually investment bankers are used to broker the deal.  But there's nothing that forbids it.)

 

And if so, isn't it subdivided (a'la North Sea light sweet crude)?

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At the wellhead, yes. On the tankers, usually but I'm not sure it's always true. At the refinery...not necessarily. At the retailer, certainly not. You don't know if you're gasoline comes from Saudi or North Slope crude, after all, and it may very well come from both.

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Isn't oil purchased by companies from the commodities exchange anyway?

 

And if so, isn't it subdivided (a'la North Sea light sweet crude)?

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yes but it also depends on where the refineries are located. On the US east coast, refineries will buy oil from North Sea and West Africa, on Gulf coast - from ME, Venezuela, Mexico.....

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No political statements in this post.

 

This information is something that everyone should know. Oil companies need to report each month to the US Department of Engery where they purchase their oil from. Fox News reported today which five oil companies do not purchase oil from the Middle East.

 

Companies That Do Not Import Oil From The Middle East:

Sunoco

Citgo

ConocoPhillips (76)

Sinclair

BP

 

Oh no. I'm all confused. I recently received an email telling me to buy oil from Citgo because it's partially owned by the government of Venezuela, and giving them money will help the country's poverty. But then I hear Pat Robertson claiming that Venezuela is loaded with Islamists, and Chavez needs to be taken care of.

 

Somebody please help.

 

 

Oh, yeah, walking and bicycling doesn't hurt either.

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