Pacific Basin Heavy Oil Refining Capacity

David Hackett, Leigh Noda, Susan W. Grissom, Michal C. Moore & Jennifer Winter
The United States today is Canada’s largest customer for oil and refined oil products. However, this relationship may be strained due to physical, economic and political influences. Pipeline capacity is approaching its limits; Canadian oil is selling at substantive discounts to world market prices; and U.S. demand for crude oil and finished products (such as gasoline), has begun to flatten significantly relative to historical rates. Lower demand, combined with increased shale oil production, means U.S....
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