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Non-Tech : Kirk's Market Thoughts
COHR 191.91+0.5%Dec 23 3:59 PM EST
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To: Jerome who wrote (1660)7/14/2014 9:45:28 AM
From: Brian Sullivan   of 26834
 
Jerome, It is pretty clear to me that moving crude oil via pipeline is a couple of orders of magnitude safer than moving it via rail tank cars. If you did some deeper risk analysis I think that you would find out that this is true.

Rail lines must occasionally move through densely populated area and while there, are vulnerable to various unforeseen accidents and terrorist attacks. Pipelines on the other hand move much smaller concentrations of product and can easily be shut off thus limiting any potential damages. Though the anti-oil crowd tries to make it seem like any tiny spill is a major catastrophe they are both very rare and not really very damaging. As with newer rail tank cars, newer pipeline are much safer than older ones. And with a pipeline you will never see the kind of devastation and loss of human life that we already saw in Lac-Megantic, Quebec.

I am all in favor of the US keeping the crude oil export ban and exporting high margin refined products. I own shares in Valero, so I am quite aware of the nice profits being made by this US based company.

I doubt that China will be a big market for our refined products long term as all of out export refinery are located on the gulf coast, which means that products must be shipped through the canal and across the Pacific.
Also China is unlike to want to become dependent on the US for any critical inputs such as refined oil.
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