Referencing news reports of oil at $60 a barrel.
Is this $60 at the point of loading the tanker, or at the point of off-loading the tanker ? Shipping charges ?
Recognizing there are different grades of crude, and different refined products.
Also recognizing the oil industry usually refers to a barrel as 42 gallon US.
How many barrels of crude does it take to produce 42 gallons of auto gas ? If it were ?one on one?, which it?s not, that would put gas at $1.43 to start.
How many barrels of crude to produce 42 gallons of diesel fuel ?
How many barrels of crude to produce 42 gallons of heating oil ?
Just asking, anyone know ?