Wednesday, May 29, 2019

The Obama Legacy: A Shortage Of Oil; An Inconvenient Truth -- May 29, 2019

From Bloomberg vis Rigzone (let's see if the killing of the Keystone XL is mentioned in this article). Data points:
  • a global shortage of heavy crude oil will create hurdles for America's key refining belts just as they ramp up gasoline production for summer driving
  • Gulf Coast: dwindling heavy oil supplies have suppressed refining margins
  • Midwest refiners: many not reach the high run rates seen last summer
  • Gulf Coast: process requiring heavy oil already at lowest levels in a decade
  • Ah, yes, here it is: blame it on Trump's sanctions on Iran and on Venezuela
  • but nowhere is the Keystone XL mentioned 
  • the oilmen knew what they were doing
  • Canada has more than enough heavy oil to make up for any loss from Venezuela, Iran, and, Mexico
What a doofus:

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