The Rising Influence of Rising Affluence

[mrholty]

I would agree with about 90% of what you wrote. (where is the WSJ article you state?)

There is a glut of oil in the upper midwest trying to get free. I was simply trying to explain the difference between WTI and Brent and where its settled is important. I' don't know oil but I know ag contracts and I bet that the price that a refinery in Denver or Moorhead, MN is probably linked to WTI and not Brent.

I would expect that if they do reverse the pipeline from Cushing to points south we should expect WTI to trade more in line with Brent or atleast back closer to its $3/barrel difference vs the $30/barrel we've seen recently which is why your HF friend is able to still make money shipping via rail.

Again, I think we are on the same general belief.