Originally Posted by
OpieTaylor
WTF are you talking about Chevron, Exxon, BP, Shell are majors, and are vertically integrated owning production.
Valero is the largest independent refinery and Delta has a boutique refinery not worth mentioning in the oil business.
You’re trying to fear monger with what refiners are “paying” for oil and largest players own their own wells.
Its just like your airline owning the seat you DH own and you’re quoting how much someone else pay for it for their DH.
Fear monger? It's easily verifiable. Yes the largest players own their own wells but they still buy barrels on the market. That still isn't even considering the hit everyone is taking to reserves.