New markets for Canada's oil remain elusive
A war of words, along with legal challenges and counter-challenges, could see plans for Canada's Trans Mountain export pipeline scrapped
Canada's quest to export oil from its shores has hit dire straits, with Trans Mountain pipeline builder Kinder Morgan threatening to withdraw support for the C$7.4 bn ($5.75bn) project. The plan is to transport production from Alberta's oil sands through British Columbia (BC) to the Pacific coast. BC opposes the idea. The whole affair has sparked a constitutional crisis over jurisdictional issues that's almost certainly going to go to the country's Supreme Court. Hanging in the balance is vitally needed export capacity—nearly 600,000 barrels a day—to secure new markets in Asia. Without it, Canadian oil will remain landlocked at the mercy of a single customer—the United States. Alberta's barr
Also in this section
18 December 2024
The energy transition will not succeed without a reliable baseload, but the world risks a shortfall unless more money goes into gas
18 December 2024
The December/January issue of Petroleum Economist is out now!
17 December 2024
Structurally lower GDP growth and the need for a different economic model will contribute to a significant slowdown
17 December 2024
Policymakers and stakeholders must work together to develop a stable and predictable fiscal regime that prioritises the country’s energy security and economy