Wyoming Oil Prices Lag Behind International Barrel Prices
Laramie, WY – The price for a barrel of oil from Wyoming has plummeted recently as compared to international and Texas oil. The differential has been as much as 20 dollars a barrel. And Governor Dave Freudenthal has convened a regional task force to address the problem. The governor's energy policy advisor, Rob Hurless, says several factors have contributed to the plunge in prices, including refinery fires in Colorado. Other factors include higher oil production in neighboring states and Canada, all competing for access to the region's limited amount of pipeline capacity. Hurless says efforts are underway to increase regional pipeline capacity, but the process requires lengthy studies.