Now that it's cheaper & infinitely more plentiful than pricey premi-crude they're spinning this as "new".
Non-existing anywhere else in the world.
they just never wanted to bother with crap oil before
Not true. Currently the heavier oil "leftovers" get sent to units like a coker that recovers some but not all of the heavies into lighter grade products. This process can convert up to 100%. It is not yet determined where the economic break even point is on the conversion.
What? I throw my trash away but you can be sure if I could sell it or turn a profit on it some other way I would. Now someone takes “trash” oil and makes it more useful you call it spin!
This is a good thing, understand?