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If You Can’t Pipe It, Refine It: Alberta Seeks Oil Glut Solution More (Bloomberg) — What’s worse: Too much oil, or too much gasoline? The government of Alberta, weighing the potential of a new refinery for the province, may be on its way to finding out. In 2018, surging crude production in the Canadian province ran into limited space on export pipelines, creating bottlenecks and sending the price of local oil to record lows relative to world benchmarks. Now Premier Rachel Notley’s government wants to see if keeping more of the oil at home with a new refinery will make a difference. On Dec. 11, the government reported it was surveying private companies about building a new refinery. The goal: Free up space for crude on local pipelines by turning more of it into higher-value fuels such as gasoline and diesel. Analysts, though, say existing refineries in the province already produce more refined fuel than is needed. “Its not a lot different than the issue they have with crude,” Jason Parent, vice president of consulting at Kent Group Ltd, a downstream consultancy based in London, Ontario. “You still have to ship that product to market.” The province will accept […]
