if you take a 100,000 barrel-a-day sour crude refinery, you can only run 70,000 barrels a day of light sweet. You can do that at the right price signal.
that could support a continued spread AFTER the ban were it lifted. It increases the value of Keystone XL product too. Currently the exchange rate is also large...
2. We know the US refining industry is very diverse and owned by us locals AND lots of foreign interests, corporately and individually. Sheiks and BP's. The two key words in the last sentence are inland refiners. That's mostly where we dwell in our little corner of the market.
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