TexasCHLforum.com

Some interesting information on this issue. One, currently the supply of crude is at an all time high. Second, about 25% of US refining capacity is shut down, due to aging facilities that haven't been updated. In spite of that it is cheaper to crack the crude in the US than almost anywgere else in the world. This is due to rapid development of the natural gas industry, which has driven teh price of Natural gas to all time lows. This supplies such inexpensive fuel for the refineries to operate on that the Us has become a significant exporter or gasoline. It is a world market and as other developing countries demand increases, we are bidding against other nations for gasoline produced here. Many of these countries purchase gasoline through their government or using government subsidies, making the price war difficult.
The Keystone pipeline 1, cuurently in use pumps Canadian crude to a spot in Oklahoma where it is stored in a huge number of tanks waiting to go to the refineries that are operating. There is more supply right now than the refineries can produce. the Keystone pipeline in the news would be a second line that aims to run all the way to the gulf. It would bring additional crude to a place wher it would still have to be stored for some time.
If we want to impact gas, not crude, prices we need to change the refining structure.