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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 383.12+0.8%Nov 26 4:00 PM EST
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To: carranza2 who wrote (169031)3/1/2021 12:12:58 PM
From: stuffbug1 Recommendation   of 218044
 
Keystone XL is not required, especially so if North American production remains flat.
The Canadian government is expanding the Trans Mountain Pipeline to nearly triple capacity to almost 900k bpd.
Enbridge is re-configuring their pipeline system, which will increase capacity by ~485k bpd by the end of 2022.

When TMX is complete, Canada will have the option to sell a portion of its oil production to Asia; no need to allow Americans to lowball us on price (single customer).

I am not an expert on refining but all refineries are configured to process a blend of oils into a blend of products. Engineering parameters govern the acceptable level of input variation.
Heavy crude is required to produce gasoline - don't want oil sands product from Canada via pipelines; okay, transport the oil in VLCC (Very Large Crude Carrier) tankers across the oceans from Saudia Arabia to Houston. Much more environmentally friendly and fewer greenhouse gases, right? As if that isn't bad enough, consider that the VLCC travels back to Saudi Arabia with no cargo - can't mix product cargos with "dirty" crude as they will become contaminated.

btw, Saudi still supplies some of America's crude requirements - Venezuelan and Mexican imports have decreased dramatically over the last 5 years.
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