Hi HKP,
Yes I believe you are correct about Oil Sands (which is even more expensive to extract than shale) but Shale is Light & sweet. See this article:
http://www.cnbc.com/2014/07/13/us-oil-productoin-refiners-struggle-with-fruits-of-us-shale-boom.html
Here is a snippet from the article:
Over the years, refineries spent billions to process denser oil –only to be caught flatfooted by the shale boom that has made light, sweet crude so plentiful. Analysts say they've been slow to make new upgrades that can better process shale.
It's probably unimportant as you are right with the fact that they don't have enough refineries to process the Light Sweet Oil.
Kind Regards,
Mr H.
Mega projects, page-18
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