Actually, it does mean a damned thing. The price/cost of the crudes that California refineries process is almost certainly based on the market price of WTI or Brent. That is just how the contracts are structured.
Originally Posted by Ajax
Here's $88 of truth for you. Not a single facility in California refines West Texas Intermediate, so quoting that price doesn't mean a damned thing.
"That's right, you're not from Texas, but Texas wants you anyway." -LL
2001 Z3 3.0i Roadster (Topaz Blue Metallic, 5-speed manual, Sport Package, CD radio, heated seats and mirrors, non-power top via special order)
"Beemer" is for my BMW motorcycles - '13 K1300S, '95 R1100RS, '88 K75S, '75 R90S (gone, but not forgotten).