[Dr Caleb]

[QUOTE]<br /> Discounts for heavier grades of crude oil, including many types of oil sands crude, are common in all markets since these crudes are more difficult to refine. But regional refiners report that pipeline capacity in parts of the Midwest is so tight that even light sweet synthetic Canadian crude -- which traditionally sells for a premium since it is easy to make into gasoline -- is being discounted by $1 or $2 a barrel by producers anxious to secure buyers.<br /> [/QUOTE]<br /> <br /> Good stuff, but I thought I'd point out the glaring error in that paragraph.<br /> <br /> How can all types of oilsands crude be 'more difficult to refine' but also 'easier to make into gasoline'. I know they are easier to refine into gasoline. Just that contradiction stood out for me.

[FootPrints]

It's a good thing you know your stuff <img align=absmiddle src='images/smilies/smile.gif' alt='Smile'> Thanks

[Marcarc]

Maybe I"m missing something, but the distinction is that the first says "heavier grades of crude, including many types of oil sands crude", it doesn't say ALL crude oil. The second is easily refined into gasoline, being "light sweet synthetic crude", which is NOT a 'heavier grade'. So the article doesn't seem to me to have any contradictions.

[Brent Swain]

Do Canadian connsumers benefit from the discounts in our at the pump prices , or do we get the $60 a barrel prices, and foreigners get the discounts on what is our oil?<br /> Brent

[Brother Jonathan]

Brent,<br /> <br /> remember that these discounts are on crude oil <i>futures</i>, not on crude oil “nows”. The delivery of the crude oil in these contracts is between one month and seven years away, depending upon the terms of the particular contract; additionally, each contract is specified in units of 1,000 barrels (roughly 159,000 litres) each. The buyers in the contracts are the ones who will benefit; not Joe Consumer in Canada, or Jane Consumer in the States, or anyone else who buys refined fuel in magnitudes closer to 50 litres at a time.