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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (102994)	2/25/2021 8:46:25 AM
From: Goose94	Read Replies (1) of 203032

Crude Oil: WCS CNR-T & CP-T Canadian oil sands crude-by-rail is growing. Oil exports by rail from Canada more than tripled since July. Gibson Energy (GEI-T) an oil shipping firm that signed a 10-year contract with Conocophillips to process oil sands crude before loading it at its train terminal - expects others to follow suit. Without Keystone XL, rail becomes a more important way for Canadian oil to reach U.S. Gulf Coast refineries, which face declining supplies from Mexico and Venezuela. The risk of derailments may also rise. Rail also creates more emissions than pipelines, with the cost of air pollution and greenhouse gases more than double the costs associated with pipelines. Gibson chief financial officer Sean Brown says, "Those U.S. refineries need that heavy crude oil produced by Canada." Gibson expects that by the third or fourth quarter it will start a 50,000-barrel-a-day facility that will maximize the crude content in rail shipments by removing diluent used to move the crude through pipelines to its terminal in Hardisty, AB Canada

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