Posted by John in La on August 06, 2014 at 18:55:57 from (96.33.136.54):
Having refineries that work best with heavy crude oil; And a boom in American drilling because of new techniques for tapping oil from shale that produces a ultralight oil. = a glut of oil in the U.S. market = lower oil prices
What is a CEO to do????????
One back door way to handle it is to hire a few lawyers; meet in a smoky room and give a private presentation to the Commerce Department so you can argue why you think the ban on exporting oil from the U.S. does not apply to you.
Then once you get your private approval that weren't coordinated with other parts of the administration; you sell your oil to South Korea.
And you thought gasoline prices were high today.... Just wait.....
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