Canada Ping!
Early Christmas present.
(Adam Smith's invisible hand at work.)
It’s not the amount of crude oil but the refining capacity of the US. You can be drowning in oil but if you can’t refine it what good is it? We have around 150 refineries but not all are refining oil into gasoline. There are shutdowns and then changes in additives and much much more ....
Canada sent about 54,000 barrels a day to the U.S. Gulf by rail in the first half of 2014,
Back in the day, the fact that hundreds of cars could use a ferry boat to get across the Chesapeake Bay was not a reason to forget about building the bay bridge.
Of course the oil is getting here, but lets get it here safer, faster, and cheaper.
This must really upset those who are obstructing the Keystone pipeline. They must hate it that the U.S. is producing more domestically and also buying much more oil from a friendly nation like Canada. They must hate it that Canada is finding a way around the obstructionism of the Obama administration. U. S. - Canadian trade is a win-win that builds up both countries. The U.S. buying so much oil from the Saudis has been a losing situation for us - the Saudis take our money and “invest” it in the U.S. in the form of shiny new mosques and schools that teach radicalism.
Canada Ping!
Hard to keep “Good” Capitalism down.