Question
As an oil refiner, you are able to produce $70 worth of unleaded gasoline from one barrel of Alaska North Slope (ANS) crude oil. Because
"As an oil refiner, you are able to produce $70 worth of unleaded gasoline from one barrel of Alaska North Slope (ANS) crude oil. Because of its lower sulfur content, you can produce $63 worth of unleaded gasoline from one barrel of West Texas Intermediate (WTI) crude. Another oil refiner is offering to trade you 20000 bbl of Alaska North Slope (ANS) crude oil for 19000 bbl of West Texas Intermediate (WTI) crude oil. Assuming you currently have 19000 bbl of WTI crude, the added benefit (cost) to you if you take the trade is closest to ________. Note: Express your answers in strictly numerical terms. For example, if the answer is $500, write enter 500 as an answer."
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