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Title : The Market, Energy, And Political Page, Part 2, T+80 -- November 1, 2018
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The Market, Energy, And Political Page, Part 2, T+80 -- November 1, 2018

Canadian producers turning to oil trucks: Bloomberg. Data points:

• phenomenon has been noted for about three to four months
• 500 miles by truck for Canadian producers to get oil to pipeline and rail terminals
• most notable increase in truck traffic seen in Saskatchewan 
• WCS selling for as much as $52.40 less than WTI -- the biggest spread/discount since 2008
• August: 230,000 bbls by truck
• a typical truck: 250 bbls of oil
• cost, for 500 miles: $30/bbl one way if the tanker returns empty
• Enbridge Line 3 expansion won't be completed by late next year (very, very iffy, in my mind)
• record CBR: 230,000 bopd
• constraints worsened when BNSF required more secure, hard-to-obtain tanker cars
• impact on Bakken oil 

Canadian producers turning to US shale: Encana buys Newfield Exploration.

McDermott to sell storage tank and pipe business: Rigzone.

NuStar: to exit Europe; will sell storage terminals to Inter Terminals Ltd. I would not have posted this except for the fact we have a huge NuStar storage facility in our "neighborhood" here in north Texas.

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