RE:RE:Biden stops buybacks for SPRI think they had every intention of buying WCS and refilling the SPR with sour crude anyway but the discount has narrowed and the purchase would only add to the increased demand and raise all NA oil prices more. Buying oil for the SPR at the height of the summer demand season may have been a foolish idea but it still may prove to be about as inexpensive as it is going to get this year. Time will tell.
As for the libs thinking shipping by rail is cheaper the cons had plenty of opportunity to put a pipe in either direction and did neither. The libs are building one to the west. We'll see if its cheaper LOL.
Given TC's 120% cost overruns on CGL, it probably would not have been cheaper going three to four times the distance in the other direction either.
GLTA
bttmfischer wrote: The US could buy it from Canada We sell oil at a deep discount because there is no pipeline to the east coast to load oil onto tankers heading to Europe. The libs think shipping crude by CNR is
safer and cheeper.( Based on the Ottawa math)