Well, consider the Times conservative viewpoint, I will take this with a grain of salt. It is true that current market conditions and the Chinese economic downturn are not favoring the export from here. There is a economic recovery happening in Japan at present, and they have always been a market for our oil. But likely not refined oil, probably direct shipment from Valdez. But we will likely pay the price, both economically and environmentally for this give away long term.
With a 40-year oil-export ban lifted Friday by Congress, Washington terminals that receive Bakken shale crude by rail will be able to send unrefined product to Asia. In the years ahead, that might be an attractive option. But current market conditions make the West Coast terminals an unlikely launching point for major overseas shipments, according to industry analysts. Hal Bernton reports. (Seattle Times)