{"id":5593,"date":"2012-04-02T11:43:54","date_gmt":"2012-04-02T16:43:54","guid":{"rendered":"http:\/\/stateimpact.npr.org\/oklahoma\/?p=5593"},"modified":"2012-12-20T10:05:06","modified_gmt":"2012-12-20T16:05:06","slug":"will-new-ok-pipelines-increase-gas-prices-producers-no-refiners-maybe","status":"publish","type":"post","link":"https:\/\/stateimpact.npr.org\/oklahoma\/2012\/04\/02\/will-new-ok-pipelines-increase-gas-prices-producers-no-refiners-maybe\/","title":{"rendered":"Will New OK Pipelines Increase Gas Prices? Producers: No, Refiners: Maybe"},"content":{"rendered":"
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Joe Wertz \/ StateImpact Oklahoma<\/p>\n

At a speech near Cushing last month, President Barack Obama pledged to help speed up the application process for the Keystone Gulf pipeline.<\/p>\n<\/div>

Crude oil production is up, and there\u2019s a glut of oil bottle-necked in Cushing storage tanks.<\/p>

New pipeline projects \u2014 the Keystone Gulf<\/a> and the Seaway<\/a> \u2014 are in the works to bring the oil from Oklahoma to refineries along the Texas Gulf Coast.<\/p>

Producers want free-flowing oil, but some refiners say the pipelines might mean higher prices at the gasoline pump.<\/p>

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For a long time, the price of oil in Cushing \u2014 which is known as the West Texas Intermediate \u2014 was higher than its sweet light sibling, the Brent Crude, which comes from the North Sea.<\/p>\n

In recent years, that trend has flipped, with WTI selling for as much as $30 a barrel less than Brent. On Friday, WTI closed at $103.17 a barrel, $19.90 lower than the Brent price of $123.07 a barrel, reports<\/a> the The Oklahoman’s Adam Wilmoth.<\/p><\/blockquote>\n

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me and the sysop \/ Flickr<\/p>\n

Refiners like Valero say new piplines could lead to higher gas prices in the mid-continental United States.<\/p>\n<\/div>

That discrepancy is costly.<\/p>

Mid-continent producers make less money. So does Oklahoma itself. That price difference means the state is losing about $100 million in gross production taxes, Oklahoma Energy Secretary Michael Ming tells the paper.<\/p>\n

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