1 light sweet barrel = 1 heavy crude barrel plus cash.
Pemex is collecting bid, private oil companies to decide what it is worth to them.
1 light sweet barrel = 1 heavy crude barrel plus cash.Is this a 1-for-1 swap???Why would we do this? Light crude is much more easily-refined than that Mexican and Venezuelan crud.
Pemex is collecting bid, private oil companies to decide what it is worth to them.
I understand that Mexico needs light crude to help them flush their heavy crude out of its wells.And I think you said that American refinery arent set up for light crude but for (cheaper) heavy crude?
Sounds like a win-win.
But then, so does simply repealing the embargo of American exports altogether. It was bad Democrat policy when enacted, and makes even less than no sense now.