I heard this morning that the Saudis had 25 million barrels of oil...

[kentuck]

just sitting in the tankers. Nobody wants it because it is not the sweet crude? It's sort of dirty and hard to work with? I heard this on MSNBC this morning.

[Clovis Sangrail]

1. crude type is important

affects refining
http://en.wikipedia.org/wiki/Sweet_crude_oil

[The_Casual_Observer]

2. Refineries are able to deal with sour crude just fine. It takes a little more

processing to extract the sulfur, & they use a vacuum boiler for the heavy bottom. The crude oil pumped out the ground in the LA/Long Beach area was all sour & heavy. They knew how to deal with it.

[Javaman]

5. It's also more expensive to refine and takes a harder toll on the

refining equipment. But then again the price of sulfur is way up, so the costs to refine it will balance out.

[pocoloco]

3. Why would you believe the MSM?

The value of the oil is increasing daily and this may be an indication this will continue.

The supply of light sweet crude is diminishing, but many more products are available from the heavier grades and there are more refineries capable of handling it.

http://www.lloydminsterheavyoil.com/refining.htm

[Bill219]

4. I heard it to

This morning on MSNBC when they do the morning segment with Erin Burnett from CNBC

She called it an "oil glut"

[kentuck]

6. yep. That was the segment.

an oil glut?