Midcontinent refiners rewarded shareholders with record returns in 2012 as discounted crude feedstocks from North American shale plays boosted cash flows to record levels. While the disparity between WTI and Brent crude should remain at historic levels in the near term, its never to early to look for long-term competitive advantages. In this video, Motley Fool energy analyst Joel South discusses a few midcontinent refiners and determines that the long-term winners will be refiners with access to light sweet crude, not the discounted heavy crude coming from the Canadian oil sands.
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