[Bakken] oil is sold at a large discount to a dropping price for WTI.
In 2011, we discussed a claim by John Hess that HES’s Bakken oil was getting a premium to WTI (#msg-62546000, #msg-62518973 [second bullet from bottom]). Is it no longer possible for such a premium to occur, even on an intermittent basis?
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”
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