Check the development of the shares of the two big refiners Tesoro and Valero. Peak oil is not an energy crisis. It is a liquid fuel crisis.
NYMEX heat July 3.8, Dec 3.95/gallon NYMEX gas July 3.45 Dec 3.3/gallon WTI 136.8 137.1/bbl
Heat cracks are $23/bbl prompt and $29 for winter. That's plenty! gas is lower $8/ $1.5
That's the problem for US refiners designed for max mogas like Valero and Tesoro.
The people at the Preem/Scanraff in Lysekil invested huge $$$ in equipment to turn Russian heavy/sour into sulfur-free diesel. They are swimming in money now. Peak oil is not an energy crisis. It is a liquid fuel crisis.
