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Wednesday 27 February 2019

U.S. Gulf Coast crude oil imports from Canada reach record-high volumes (2/27/2019)

The volume of crude oil imports to the U.S. Gulf Coast (Petroleum Administration for Defense District, or PADD, 3) from Canada has increased significantly during the past several years, reaching a record high of 644,000 barrels per day (b/d) in October 2018. Canada’s exports tend to be heavy crude oils, which Gulf Coast refiners are well equipped to process. Increasing volumes of Canadian crude oil have been transported to PADD 3 via rail (a more expensive option than via pipeline) because the existing pipelines have largely reached their capacities. This capacity limitation has created a transportation constraint and contributed to large price differentials between Western Canadian Select (WCS) and West Texas Intermediate (WTI) crude oils. The future levels of crude-by-rail shipments from Canada to the United States and price differentials between WCS and WTI are uncertain, as trade press reports indicate that increased shipping capacity in both rail and pipelines are expected by the end of 2019. ... More »
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The Stages Of A Scam

1. Foundation Work: This is the preparations which are made before the scam is put in motion, including the elaboration of the plan, the employment of assistants and so forth.

2. Approach: Is the manner of getting in touch with the scammers victim — often most elaborately and carefully prepared.

3. Build Up: Rousing and sustaining the interest of the victim, rousing his emotions, showing him the chance of profit and filling him so full of anticipation and cupidity that his judgment is warped and his caution thrown away.

4. Pay-off or Convincer: An actual or apparent paying of money by the conspirators to convince the victim and settle doubts by a cash demonstration.

5. The Hurrah: This is like the dénouement in a play and no scam or con scheme is complete without it. It is a sudden crisis or unexpected development by which the victim is pushed over the last doubt or obstacle and forced to act. Once the hurrah is sprung the victim is clay in the scammer's hands or there is no game.

6. The In-and-In: This is the point in a scam act where the conspirator may put some of his money into the deal with that of the victim; first, to remove the last doubt that may tarry in the gull's mind.