PSX - Biden looks for ways to increase Canadian oil imports without adding pipelines

It has been reported that the White House is seeking ways to increase Canadian oil imports; however, the administration does not want to resurrect the Keystone XL pipeline, according to Wall Street Journal sources. Setting aside the pipeline cost / benefits debate, there are some likely beneficiaries of the administration's uniquely precise energy policy goal. A number of short-cycle producers could increase production, including Whitecap (OTCPK:SPGYF), Vermillion (VET), and International Petroleum Corp (OTC:IPCFF). The production would likely be exported by rail, benefitting Canadian Pacific (CP) and Canadian National (CNI), as well as terminal operators Chevron (CVX), Gibson (OTCPK:GBNXF) and Pembina (PBA). Producers could likely send an additional 200kb/d by rail: Additional Canadian barrels could also help Gulf Coast refiners like Valero (VLO) and Phillips (PSX) source the heavy barrels needed to produce distillate fuels, which have been in increasingly short supply.

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Biden looks for ways to increase Canadian oil imports without adding pipelines