[rwh]

They needed to explain in the article. The glut is in light sweet crude while most refineries on the gulf coast are set up to process heavy crude (a lot of which is imported).

Most of the increase in domestic production is light sweet crude. It will take time for refineries to make the switch. Opening up exports should give a place on the market for the lighter crude to go. The drop in price would come from efficiency gains in the market and would help domestic producers.

[ExTxMarine]

The glut is in light sweet crude while most refineries on the gulf coast are set up to process heavy crude (a lot of which is imported).

We obviously have a man who works in the oil industry! You are correct, and most of the US refineries are NOT designed to process light sweet crude, because it was so difficult to harness and extract, in the past.

The way I see it, this is a GOOD thing!

[Red Badger]

Okay. Thanks.................