The only place to obtain a fairly complete set of current oil price data required a subscription—of $30,000 to $50,000 per year. This is for 70 different blends of crude in Canada alone.
It will cost Oilprice.com about $200,000 per year for the contracts to access and make this information available.
Most investors look at WTI and Brent prices at Bloomberg or CME Futures, and figure the oil price is in the public domain. You would be about 2 percent correct, because there are hundreds of different grades of oil, and hubs where it is bought and sold. And they all have different prices.
The small team at Oilprice.com made 18 months of calls, cajoling and ultimately paying for an amazing service you now get FOR FREE.
Stafford will be out of pocket by a couple of hundred thousand dollars per year in order to secure the continued contractual commitments to supply this data.
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
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