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Light crudes also produce more gasoline than heavy crudes on a per barrel basis.
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Even sour and heavy crudes, which are cheaper, are still quite profitable.
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Likewise the distinction between light (low wax content) and heavy crudes are important for similar reasons, most refineries cannot process both equally well.
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Heavy crudes (high wax content, high API viscosity, high density) cannot be refined efficiently by refineries geared to refine light crudes and vice versa.
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The same is true for light vs. heavy crudes as well.
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Suffice it to say, oil companies are in no danger of being over taxed and if they would invest in more refining capacity for heavy and sour crudes, the supply and demand for petroleum would stablize, at least over the next period.
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And the same will be true for the US. There is some mixture of light and heavy, sweet and sour, crudes which is optimal to provide the refined products the US desires to use.
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The heavy dose of capital enabled Corpus Christi to process the thickest, cheapest crudes on the market.
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