(Jim2) Here’s a nice benefit from carbon.
From the article:
On one hand, it could be seen as a warning sign that usage is down, but reports have suggested that is not the case. Instead, the increasing inventories of oil appear to be driven by robust production here in the U.S., which is leading to gluts. That effect is backed up by the low price of American WTI oil (West Texas Intermediate) vs. international Brent. Brent oil, at $110.64, is now approximately $18.40 more expensive than WTI, well up from the $3.18 spread in mid-July.
The subsequent easing in fuel prices is also one of the factors that will have helped the University of Michigan’s consumer sentiment index to increase from 72.0 for October to 75.1 currently. So if the holiday shopping season comes in strong this year, maybe a bit of credit is due to America’s oilfield workers.
http://seekingalpha.com/article/1867281-oil-supply-overflowing