WSJ:
"For West Coast refiners, Canadian crude involves cheaper shipping costs than those from Alaska. Oil from Canada can be shipped in using internationally flagged tankers, which involve cheaper transportation costs than Jones Act—domestically built, owned and crewed—tankers that must be used when shipping oil from Alaska.
The biggest negative impact will be on inland refineries such as those in the Midwest using Canadian crude because they don’t have easy access to other types of heavy crude. Refiners on the Gulf Coast have the option of importing heavy crudes from Mexico and Venezuela.
Are there clear corporate winners or losers? Because refining giants such as Valero VLO , Phillips 66 PSX and Marathon Petroleum MPC operate throughout the U.S., including the West Coast, the rise in Canadian crude prices could end up having a neutral impact on those companies, Read said. One clear winner is PBF Energy PBF . The company doesn’t run any Canadian crude in their midcontinent or Gulf Coast facilities but will get the benefit of cheaper Canadian crude on the West Coast, according to Read."
Carlos Slim has a significant stake in PBF Energy noted above. Also Slim has taken a 22% equity interest in Talos as well as bought an interest in Zama Project in Mexico from Talos. Having a Mexican billionaire involved in Zama can't help but grease the wheels and hopefully keep Pemex honest and on track.