Why refiners are the next oil and gas investment opportunity
North America is drowning in oil, says Keith Schaefer, editor of the Oil and Gas Investments Bulletin, and that's why investors should look at refiners.
"The shale revolution is creating this huge glut of oil in North America so our prices are $10-$15 lower than everywhere else in the world," said Schaefer in an interview with MINING.com this spring.
Refiners are the choke point, and they have margins.
"All the refined products are going out the door as fast as they can make them.
"They get to buy all that cheap oil and sell it at the international price. And I think the difference between North American prices and international prices is going to blow out again in a big way later this year.
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