OPEC Is Cracking…
show comments
  • Opec is cracking? Well, good, though I understand they may depend on at least $70 oil, which is where fracking breaks even.

  • bigfire

    The thing with Venezuela crude is that it’s some of the heaviest on earth that can only be reasonably refined for a profit at American refinery. They’re kind of close to their biggest customer, and their biggest customer happens to have the available technology and capability to process the crude.

    With the new fracking oil and gas that’s rated at light sweet which is cheaper to process at home, it puts a downward pressure on their oil. Never mind that 12 years of Hugo Chavez have ensure that no one in their right mind would ever invest in hardware in Venezuela (least they get nationalized) means that both their crude extraction and refinery capacity are lowered.

    This is not the same issue as discussed in the blog post about the African sweet light crude, whose former destination were United State.

  • Corlyss

    Any word on the refinery picture in the US?

  • juninhobaiano

    For those who want to drag the US into another Mideast war in Syria, forget about it! America doesn’t need to thanks to this wonderful piece of news!

© The American Interest LLC 2005-2017 About Us Masthead Submissions Advertise Customer Service
We are a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for us to earn fees by linking to Amazon.com and affiliated sites.