CSPAN2 Key Capitol Hill Hearings December 31, 2014
Last decade, billions of dollars were invested in upgrading refineries in texas louisiana and those were on the gulf coast to process heavy crude oil now we have a surplus of light crude. So its created problems. I think the concern of surplus of light crude, because they are typically the shale, those wells are very shortlived, but theyre much cheaper to drill in the army are once. So theres some issues with our be going to have to reinvest for those refiners another 2. 5 billion to handle the lighter crude . There are upgrading and new Construction Projects underway right now to allow the re...