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jugs

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jugs

Re: lightrock post# 591

Monday, 05/21/2018 3:14:32 PM

Monday, May 21, 2018 3:14:32 PM

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Not sure you understand the link you've provided.

Venezuela, according to the article, seeks to acquire light sweet crude to use as a diluent. In effect, they are hoping to smooth out a wrinkle in their predicament---using lighter material as a thinner much as we use various thinners to thin out paints.

The problem here is that Venezuela will not find any country prepared to offer credit to a cash-strapped country. And heavy sour crude is far less valuable than ultra light, sweet.

The standoff will continue, I suspect.
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