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June 28th, 2012

US Crude Oil Benchmarks

by Andrew Price, President & COO

When crude oil is discussed, the conversation centers on two primary benchmarks: 1) the US benchmark, West Texas Intermediate (WTI), and 2) the European Benchmark, Brent.

WTI is delivered to Cushing Oklahogma and is the physical commodity traded in futures contracts on the New York Mercantile Exchange (NYMEX). WTI is a light (low viscosity) and sweet (low sulfur) crude grade, and the most watched crude oil price in North America by far. There are, of course, many other crude oil grades with unique prices. Prices vary depending on the location of extraction, transportation costs to market, and the characteristics of the oil.

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June 7th, 2012

Is Texas Facing a Summer Of Power Shortages?

by Andrew Price, President & COO

Everyone knows that everything is bigger in Texas, and electricity consumption is no exception. The Electric Reliability Council of Texas (ERCOT) – the organization responsible for operating the bulk electricity grid in Texas - is forecasting a peak summer demand of 67,492 MW this summer. To put this in perspective, the Independent System Operator of New England (ISO-NE) is forecasting a peak demand of 27,440 MW for the five New England States.   

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May 31st, 2012

North Dakota ‚?? Shale Oil Surge

by Andrew Price, President & COO

North Dakota recently passed Alaska and California to become the 2nd highest oil producing state in the United States. North Dakota production has surged from 100,000 barrels per day in March 2005 to almost 600,000 barrels per day in March 2012. North Dakota is still far behind Texas which produces over 1 million barrels per day, but the explosive growth is adding to the strain on transportation options available to move the crude oil to US refineries.

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