OTCPK:VGIPF - Post by User
Post by
excitingon Feb 21, 2013 9:38pm
225 Views
Post# 21026540
Keystone sequel
Keystone sequel Canadian conventional oil companys don't really need Keystone to be approved to get good price. At best it can help alleviate the glut at Cushing terminal for Heavy oil since most the refineries from the gulf are setup for Heavy oil such as from Alberta tar sands. Enbridge line 9 and 9B is the key for Renegade and alike Light sweet oil producer. Combined with their Line 5 it can flow oil directly from Alberta to Ontario and then to Montreal (300000 barils per day at the end of 2013) and plans for a twin up line 9B up to 800000 barils per day for Montreal refineries. That's why it is a big business and huge jobs creation for Quebec and the provincial government is very interested. Instead of getting Brent priced oil Montreal refineries will get lower prices from western canadian Light oil. Enbridge has said there are huge demands for the reversal of line 9 and the build up of line 9B and contracts for using their pipes are for 10 years and plus. So huge win for them and nice gains for refineries and new closed to world price for canadian western Light oil. Everybody wins in that type of project. That's why it will go through. Approval in summer. Operational by year end. Canadian economy and especially Alberta's economy are at the stake. Federal government and Mr.Harper knows it. It would be nice if Enbridge Northern gateway to the west coast receive the same approval but that's another story.