No surprise, the big players who have contracted for daily volume on the pipelines have the advantage. I think these articles make clearer what Jennings has referred to as "disadvantaged" crudes.
From the article: "The current producer price pain will only end when the supply glut evaporates and that must wait for infrastructure access to the US Gulf market. That reality doesn’t look like it’s happening now until 2014 when the Seaway pipeline is expanded, the Keystone Gulf Extension is completed and new pipeline projects like Pony Express come online to expand capacity out of the Bakken. In the meantime, the pipelines out of Bakken are full to capacity and producers are resorting to trains, barges and trucks to get their crude to market"
The funny thing is crude is rallying on OPEC keeping output the same?! With an abundance of crude you would think they would have acted as in the past, reduce output to drive up prices, aka, profits. I still believe the saudi's are on a mission to keep crude low to keep fracking at bay as it costs more, especially with the guar gum shortage + that commodity cost soaring. Long term it all depends on how the politicians treat fracking + ground water which will be the big debate. IMO the saudi's see fracking as having a major impact on their revenue intermediate to long term. Add in oil sands and the americas could be awash in oil and have no need for imports.
Iran?!?!? Sanctions are hitting hard but another article I read said the Iranians have a lot of pork in their budget that they can cut to reduce costs, I can't fathom how that can be. They should spend money building a large refinery instead of a nuke as they ship crude + have to import gas. What a bunch of idiots. The north korea of the middle east but at least they have an export. Allah be praised says the leader.