Analysis: Shale Oil: from Curse to Cure for East Coast Refiners?

A new kind of oil from Texas and North Dakota may rescue some East Coast refiners from the brink of oblivion, providing a local alternative to the costly imported crude that had threatened to put them out of business.

Evidence of new buying interest has emerged this week for two other major plants, potentially saving the Northeast region from a summer fuel squeeze that had unnerved politicians all the way to the White House.

One of those bidders is counting on the boom in light, sweet shale oil to help resuscitate the ailing sector, which has been squeezed between costly, imported light crude, falling gasoline demand and new, more sophisticated overseas rivals.

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