streetwise wrote:So let me ask as the world crude oil prices are falling are those for refined oil going up and why ( no need for a formula), could it be that electricity in the refining country has gone up ??? this is what ERC needs to answer.
The same electricity comes from burning HFO/Crude in those refining countries, so the final product has to be cheaper non the less!
Most oil producing countries(Saudia,Iran,Venezuala.Kuwait,Qatar,Russia eatl) burn the same oil to produce electricity, its cheaper than using other sources like coal/hydro, its only Norway which produces and exports vast amounts of oil but get almost 100% of its electricity from Hydro and other renewable sources.
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