<The Amazing Power of King Hubbert(...?)The Oil DrumDrumBeat: September 13, 2007>

69 comments on This Week in Petroleum 9-12-07

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davebygolly on September 12, 2007 - 8:34pm Permalink | Subthread | Parent | Comments top

What does seem odd is the low gasoline price.

And the low NG price -- but I suppose that's another subject.

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Brother Kornhoer on September 12, 2007 - 8:56pm Permalink | Subthread | Parent | Comments top

No, it does make sense...because the gasoline price in the US is low, we are losing the bidding war. If the price were higher, we'd be winning the bid. Overall not surprising if we're tilting into recession.

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Gilgamesh on September 13, 2007 - 4:59am Permalink | Subthread | Parent | Comments top

who is outbidding the US?

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marcosdumay on September 13, 2007 - 7:28am Permalink | Subthread | Parent | Comments top

Europe (not only EU), Japan, the net exporters, and BRIC.

On a feew months, I expect some caribean countries to also get into the team.

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Twilight on September 13, 2007 - 6:34am Permalink | Subthread | Parent | Comments top

Chicken and egg issue. But I think people would/could pay more if they had to, so doesn't that mean the refiners could pay more for the crude? It still doesn't explain why the price is so low now - but it probably does mean it is temporary.

Question: do refiners have to borrow significant money to buy crude?

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