Enbridge-Conoco Pipeline Deal Envisions Flow Reversal - WSJ.com
Canada's Enbridge Inc. agreed to buy a 50% stake in a pipeline currently moving oil from the U.S. Gulf Coast to Oklahoma, and then reverse the flow—a move that could ease a bottleneck of crude in the Midwest.
The announcement sent U.S. crude prices soaring on expectations that the Midwest glut of oil could soon be released and fetch prices closer to more expensive, international benchmarks....
This story is about how reversing the flow of a pipeline now into Oklahoma is a good thing because it would let us sell more of our oil on the world market where it's worth more, thereby making the price of oil here go up.
Yay!
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