Thanks to Obama's policies Saudis Profit on US Refining.

Thanks to Obama's policies Saudis Profit on US Refining.(Minyanville).Within a Month, joint venture of Saudi Refining, Inc. and Shell Will Be the Largest in the US.While US Northeast refineries such as ConocoPhillips’ (COP) Trainer as well as Sunoco’s (SUN) Girard Point and Marcus Hook are on the verge of shutting down if a buyer is not found, the historic Port Arthur refinery near Sabine Lake in East Texas is about to complete a massive expansion. Continually improving exploration and production technology will allow for significantly greater oil recovery from the Eagle Ford shale and Permian Basin in Texas – aggregate flow from these regions is expected to multiply several times over within the next few years. Increased flow from the Bakken Shale in North Dakota and Athabasca Oil Sands near Alberta, along with the reversal of Enbridge (ENB) and Enterprise Products Partners’ (EPD) Seaway Pipeline, will also add to the vast quantity of oil moving toward Gulf Coast refineries such as Port Arthur. After the Port Arthur project is completed within the next month, the 110-year-old facility’s throughput capacity is expected to more than double to 600,000 barrels per day (“bpd”). It will rank as the largest in the United States (measured by operable capacity) and among the top 10 in the world. Following expansion, it will surpass the largest US refinery, ExxonMobil’s (XOM) Baytown, by approximately 40,000 barrels. The Port Arthur refinery currently handles 285,000 bpd and is the 15th largest in the country. For the sake of scale, the world’s largest is Reliance Industry’s 1.24 million bpd facility located in Jamnagar, Gujarat, India. The operation is owned by Motiva Enterprises, a joint venture of Saudi Refining, Inc. and Shell (RDS.A). Each entity owns a 50% share of the JV. Saudi Refining is a subsidiary of the Saudi Arabian national oil company, Saudi Aramco.Hmmmm.......Obama: "All the Choices We've Made Have Been the Right Ones".Read the full story here.