EDMONTON – New pipelines to U.S. Gulf Coast refineries might not put an end to the current oversupply that is triggering a huge discount for Alberta’s heavy crude oil.
With rapidly expanding U.S. production of light oil, by 2015 the refineries of Texas and Louisiana “will face a buyer’s market in which light and heavy are competing for market share,” said Robert Johnston, director of energy and natural resources at Washington-based Eurasia Group, a leading global political risk research and consulting firm.
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