Who Is Going to Move All This Oil?
The explosion of oil and gas production flooding North America, caused by the surge in unconventional drilling, is quickly utilizing the takeaway capacity. In Suncor's recent investor presentation, Steve Douglas, the company's VP, stated that in under two years, the supply of western Canadian oil and bitumen will start to outpace the pipeline capacity at an increasing rate. While this bottleneck can cause headaches for the production companies, it opens the door wider for the number of midstream's looking to lock in long-term volumetric contracts. Check out the video below for more information.
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The article Who Is Going to Move All This Oil? originally appeared on Fool.com.Austin Smith has no positions in the stocks mentioned above. Joel South has no positions in the stocks mentioned above. The Motley Fool has no positions in the stocks mentioned above. Motley Fool newsletter services recommend Enterprise Products Partners L.P., Kinder Morgan, and TransCanada. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.