Carol Roth

We get it from different places.

Right.

But, you know, it's the density is the light versus the heavy and the sweet versus the sour is about, you know, how much sulfur is in it.

So the corrosiveness, the processing and all of that.

So there's this mismatch, just like we had the mismatch for the apples in our pie.

Now, that's only one piece of it.

The other piece of it is that there is global market pricing.

So even though we have this theoretically proprietary oil supply, the pricing happens on a global basis.

And so somebody who's over, let's say, in Asia, if the oil in their region, let's say, is $30 higher than what it is here, and it costs them like $7 a barrel to transport it,

they're still going to be better off.

There's a $23 difference between that $30 and the extra to transport it.

So that means they're going to bid up the lower prices and you're going to close the gap due to financial arbitrage.

So basically, if you think about it, the price is global.

The refinery needs are very specific.

And who loses on both sides of that?

The consumer.

But you'd still have the mismatch, so it still wouldn't work out anyway.

Yeah, so that's true today.

If you are a seasoned oil professional, just like a professional in any other industry, you're going to make your long-term investments

based on long-term decisions, not based on a crisis situation.