Quote:
Originally Posted by LeftCoaster
Yes but all those other uses don't make petrol worth $100 a barrel.
If it wasn't used for energy it would be worth a couple bucks a barrel and Ft Mc Murray wouldn't even exist.
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The complete opposite is equally true, though. Fuel oil represents half of all oil revenues (typically the heavier grades). Chemicals represent half of all oil revenues (typically the lighter grades). The energy market is almost exactly the same size as the chemical market with regards to oil; to say one dominates the other is entirely incorrect.
We're not talking about a small, fringe industry here. We're talking about Dow, 3M, Pfizer, and Intel.