Keystone Delay A Big Financial Plus for GEL!
The announcement that bitumin(heavy crude oil) from the Alberta oil sands will be shipped via rail from Canada to GEL's Natchez,MS,terminal and then by GEL barges to Gulf Coast refineries is amazing. Here, the environmentalists figured that getting Obama to delay the Keystone Pipeline would keep a lot of oil sands crude out of the USA...but,hey, where there's a market private enterprise will find a way...and GEL's position in "black barges" able to handle heavy crude is going to lead to a big score for us. Strategically, this is great for the USA,too. We have the world's biggest refinery complex along the Gulf Coast. And a lot of refined products from it are exported to South America and Asia. The alternative is for Canada to ship crude to China and let the Chinese refineries score. So, this a "win" for the USA and a "win" for GEL..and hopefully a bump in distributions for us deserving unitholders. A special "thanks" to President Obama for supporting GEL like this!!