Chief Operating Officer, Twenty Twenty, Iran discussed on Red Eye Radio

Automatic TRANSCRIPT

Different types of energy how do we how do we sit in regard to supplies of gasoline let's see hard to speak to supplies of gasoline were we import some distant gasoline among them and we export a lot because we refined products on behalf of other countries that don't have the refining capacity but in terms of you know we only were we're only exporting about a million barrels a day right now one point one i think many barrels a day is what we export however that went up very fast from a dead stop in january of two thousand sixteen we're already up over a million people expect by twenty twenty will be over for me but again of the you know if you look at the total well we produced in the country right now it's only sixty five little bit less than sixty five percent of the pre us so we're a long way for being independent in terms spoil and looking at the just the price of gasoline a year ago according to triple a gallon l average went for two thirty four per gallon now it's up to two eighty one nothing i would assume close to what happened back in say twenty eleven to two thousand fourteen we were pushing three forty three fifty three sixty gallon right well if you look just just look at a barrel of crude about something less than fifty percent between fifty percent depending on the oil is gasoline so if you you know every ten dollars on the barrel on a barrel of oil you have half of that gasoline would be five dollars up on twenty one gallons so you know you talking about what twenty five cents twenty five cents a gallon for gasoline just based on on a ten dollar increase in the price of books and we've had more than a ten dollar increase between this time last year and now so it's it's about equivalent i mean it's not like somebody's making a lot of extra money in the refining side all right thank you very much sir wayne to benning he's the chief operating officer at crude funders online at their name crude funders dot com and look at the iran deal possible impact on gasoline prices are of course a lot of.

Coming up next