Quote:
Originally Posted by TurnedTheCorner
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%.
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Cdn crude is currently getting benefit of Brent value.
Btw new large refining capacity coming in 2012.