Tag Archives: Oil

Smashing the local suppliers

ExxonMobil is closing its Mossmoran chemical plant in Scotland. The reason is competition from ethylene exports from the US that are exempt from carbon tariffs. Yes, local production has to pay a tax that foreign sources do not. In much … Continue reading

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Oil price negative

Today the price of WTI crude reached minus forty dollars a barrel. WTI (West Texas Intermediate) is US-centric and it has gone negative because once the storage capacity at Cushing is full there is pretty much nowhere for the crude … Continue reading

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