The profits of the refiners are proportional to the crack spread. In the case of ALDW the inland locked crude discount increased this crack spread by 10% to even 20%, this was especially true because ALDW used WTS rather than WTI. The new pipeline unlocked the crude to the Houston pipeline hub. The bottom line is that ALDW has lost its competitive edge, the price plummeted.
By mid-2014, the WTI will overwhelm again the pipeline throughputs. Again the WTI, in some cases, will be again landlocked; the crack spread will again be a competitive for the inland refiners, therefore ALDW.