[thackney]

I have always been under the impression that “Texas” oil was not the type difficult to refine, like that from Venezuela.

In general, that is true, but do not assume all oil in a given area is the same. Texas has some heavy crude and Venezuela has some light. On the Alaskan North Slope, there is Very Heavy crude laying on top of far lighter crude, and under that is more heavy. It is by the field, not the surface location.

And the reason our Texas oil markets at a lower price is more related to delivery capacity backlog from field to refinery.

WTI has been below coastal prices due to pipeline bottle necks. And late the price in West Texas (Midland) is even below the WTI price in Cushing, Oklahoma for the same reason.

But it is getting better. Some pipelines have been built and even reversed to get more oil out of Cushing, instead of bringing it in from the Coast.

[X-spurt]

Thanks for clarifying.