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Saturday, October 10, 2015 9:51:47 AM
http://www.foxnews.com/politics/2015/10/09/house-oks-lifting-40-year-old-us-ban-on-crude-oil-exports/
Jon the debate.... Obama has said he will veto the bill to lift crude oil export ban. NTI may be the place to be but I suspect most people don't quite get the reasons, and will abandon all refining stocks if the bill becomes law. The signal given is: We have at least until after the elections next Fall to decide what the impact will be on our positions. In general it seems logical that US refiners will give up a bit of margin due to crude cost spreads which should tighten, but if we can't use all the light crude we produce... due to refineries designed for heavy oil, then the real issue is the Keystone XL pipeline which would bring in cheaper heavy crude from Canada to replace some Venezuela/Saudi crude. This political football is now in the air for the next year (plus 3 1/2 weeks).
"You’ve got to be very careful if you don’t know where you are going because you might not get there."
"The future ain’t what it used to be" "A nickel ain’t worth a dime anymore."
-so long Yogi, we will miss you-
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