Posts Tagged ‘West Texas Intermediate’

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    High and Low Gas Prices

    Mar 16, 12 • 182 Views • Demand, Supply, and Markets, Households, Macroeconomic Measurement, Regulation, UncategorizedNo Comments

    Why is the average price of a gallon of regular gasoline in Wyoming close to $3.36 and New York, $4.00? Location and regulation. Wyoming produces oil, it refines it, and, its taxes are among the lowest in the country. Also because of good location and less

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    An Oil Surprise

    Feb 24, 11 • 167 Views • Demand, Supply, and Markets, Developing Economies, Environment, Government, Households, International Trade and FinanceNo Comments

    As the turmoil in the Middle East unfolds, if you want to sound knowledgeable about oil, you could just say $147, contango and floating storage. As you can see on this graph, it was mid-July, 2008, when the price of oil peaked at slightly more than $147 a