Quote:
Originally Posted by Frequitude
Products already get Brent pricing. There's craploads f NA refineries on tidewater. They're all buying cheap WTI and selling high priced products. This would be nothing new.
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Some products are, but not crap loads buying exclusively cheap Edm heavy and sell all its products at brent based prices. Some refineries can do this on a small part of their capacity, but I'm not sure any of them would be positioned the way someone in Kitimat would be.
What this refinery does (again assuming it REPLACES the ability to export) is jack the producers, keep them from getting to open markets and allowing the crude to clear at true market levels.
I could be wrong, but I bet you can't name a single refinery that gets half or more (never mind ALL) its crude at the price Kitimat would and then get to sell half or more it's products into brent based pricing markets.
Quote:
Originally Posted by Frequitude
Where?
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http://www.reuters.com/article/2012/...84U13J20120531