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Fri04182014

Last updateThu, 17 Apr 2014 1pm

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End-User News

Texas Could Join Saudi Arabia in Supplying Oil to California

“Until now, a U.S. law that makes domestic shipping more expensive left Californians buying oil from the Middle East instead.” But today, assuming they can find enough ships to transport it, “Texas crude will become affordable on the West Coast as the highest domestic output in a quarter century creates a surplus of light oil and drives down prices,” according to Bloomberg’s Lynn Doan and Isaac Arnsdorf.

“The West Coast has been short crude over the last couple of decades with Alaska North Slope and California oil production down,” says Andy Lipow, president of Lipow Oil Associates LLC in Houston. “Getting more crude from other areas of North America into the West is going to help refiners, and if you have a big glut of light, sweet crude on the Gulf Coast, tankers will load.” 

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