Quote:
Originally Posted by transplant99
Looking at that map, you would think that they would stop sending oil to refineries that are directly in the hurricane cone. Why cant it be refined elesewhere?
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You have to take it to where the refineries are. A quick search on the web suggests a new oil refinery has not been built in North America since 1984, so there aren't other places to refine it. Domestically.
One down side of increased Canada-US oil ties is that it doesn't give Canada much incentive to develop international markets, which could cause a drag on prices. North Sea Brent is already trading at a premium to West Texas Intermediate by about $14-15 boe right now, or about 12.8%.