Lagunamadre

Actually speeding up at an alarming rate.

We've (company I work for) got a large mineral footprint across the Bakken, we are averaging about a $6.50 differential from WTI for the past 12 months. For reference our Permian diffs are about $2 and Eagle Ford $3. So your getting about $3/4 less per barrel in the Bakken than you would in Texas. Plenty of pipeline capacity out of ND with DAPL, just a function of traveling a lot further to get to a refinery, more tolls to pay.

I think Neonmoon knows a lot more about the subject than I do, so he can expand, but the numbers refer to the density of the crude. The lower the number the more dense/heavy.

That's a great question and what the average American misses in the "energy independent" talk. America could pretty much be self sufficient if all of our refineries were retrofitted for light sweet (shale) oil. The problem is that's a multibillion dollar and time consuming process which could only be done if the majors believed the light sweet was here forever, I think most of them feel like the shale production will always be the swing oil but will never have the economics to be our base, so for now our base will continue to be the heavier ME/Canadian/Mexican oil that we are currently set up to refine. With decisions like that with decades long implications, it would be hard to trust any gov subsidies that could be taken away 4 years later. So short of us nationalizing the refineries or major technological developments in shale development, probably not going to change any time soon.

It's my understanding that China is already buying all of the crude the Iranians can produce. So not sure it would have a huge effect on the fungible oil market.

There is already a de facto ban on Russian oil. Traders aren't touching it. They are running out of places to store it as they can't find a market for it, and if it keeps up will have to start shutting in production. Seems like the $110 price has removal of Russian oil baked in at this point. Nat gas is a different story. When the weather warms up in a couple months in Europe, Russia is going to be super fucked.

My thoughts as well. Seems like bait.

Charlie was a big fan of socialism when he got $10M of Texas's TV money from Kansas in exchange for winning 6 games in three seasons.

At least you weren't walking the floor. Could have been much worse. Thoughts and prayers to your housekeeper.

I'm already exhausted.

WTF is happening to nat gas today?

Uhh ohh, looks like I see a "no guns" sticker on her office door. What a commie libtard gun grabber.

Have fun on hold motherfuckers.

"We are checking each and every ballot for traces of Tequilla as we believe some ballots came from Mexico, the land of criminals, drug dealers, and rapist."

That literally happened.