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Strategies & Market Trends : The Art of Investing
PICK 56.19-1.5%Jan 16 4:00 PM EST
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To: John Carragher who wrote (4350)6/9/2022 8:23:54 AM
From: oldbeachlvr1 Recommendation

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towerdog

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I believe that many US gulf coast refineries are already able to refine heavy crude, and have been for decades. Most of the crude out of Venezuela is heavy crude. I lived near the Chevron refinery in Pascagula, Ms. in the early 1980's and at the time they had a $2 Billion project to retrofit for heavy crude, adding no additional capacity. Then there was a significant discount to heavy crude vs light sweet, which I believe carried on to this day. Also the XL pipeline was going to carry heavy crude from the oil sands area to the midwest, then gulf coast.
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