This morning, the Houston Chronicle reported on the $21 per barrel price differential between West Texas and Cushing, Oklahoma a major pipeline hub and pricing point for crude oil. With the advent of horizontal and hydraulic fracturing technology, the US is producing almost 50% of its daily needs. This reduces the need to import oil from countries who hate us, but has, at the same time, created huge price differentials in different parts of the country because of the shortage of pipeline capacity.
Filed under: Energy
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