RE: You're probably right. Like so many issues,

Posted on: April 3, 2020 at 16:30:11 CT

I get that. But when WTI crude is in the 20s, our independents and shale oil guys can't produce at that price. At, say, 60 bucks, they can and we are essentially independent of them. That said, we will still refine SA crude and we will export some of ours. It us dependent on refinery yields for that specific type of crude. One refinery I was involved with didn't run Alaskan crude well due to its equipment, and hence, its yield of light oils like gasoline and diesel. It liked a foreign crude better. Another I was around loved the Alaskan stuff and didn't do as well with some foreign crude.
There is a price for crude that keeps gasoline affordable, and protects our industry in the US. I have been retired for a while, and refineries change, but there is a sweet range where everybody is relatively happy.
With this current scenario, a lack of demand couple with production on steroids, it is becoming a mess just to store the shyte. It us interesting, and I don't know the long term answer, but it us fun to kick it around.