john kilduff is an oil analyst and partner at again capital. he joins us live from the nasdaq. nice to see you again. so why would more oil to refinery row in sdpekz the gulf coast mean higher oil prices? >> well, they say all politics is local, tom, and in this case all markets are local as well. imagine if you had a bumper crop of wheat or really anything on hand, but you couldn't get it to market. what's it worth to you? what's it worth to the world, really nothing because it's stuck where it is and it can't get to the places that need it. what we're seeing here today is that the oil in oklahoma that the contract trades against got liberated or will be liberated shortly, so what we've been seeing with the depressed price relative to all the other global markers for crude oil around the world is now seeing a correction. where that wti oil, that curbing, oklahoma oil is now almost as valuable as all the other oil in the world. >> tom: you're talking about west texas enter media. i want to put on the screen the police differential you're refering to, between west texas crude an