Industrialized Cyclist Notepad


James Hamilton on crude oil and gas prices

My rule of thumb has been that for every $1 increase in the price of a barrel of crude oil, U.S. consumers are likely to pay 2-1/2 more cents for a gallon of gasoline.

Hamilton points to the lack of adequate pipeline infrastructure in the US to explain the gap between Brent and WTI.

via http://www.econbrowser.com/archives/2012/02/crude_oil_and_g.html

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