Canadian oil selling at a $36 discount. Wow.
Federal and provincial governments are reeling from the impact of the lack of pipelines and new markets for Alberta crude - an alarming dilemma that could cost Canada more than a trillion dollars in lost economic activity.
With no quick fixes in sight, ...
Alberta's oilsands bitumen is selling at a $36-a-barrel discount because of a glut of oil in the United States and a lack of pipelines to get the Canadian product to the eastern and western coasts and down to the Gulf of Mexico.And more:
Horner said the discount - the differential between the price for benchmark West Texas Intermediate (WTI) oil and Western Canada Select, which represents a blend of conventional heavy crudes and bitumen - is far more serious than he initially believed when the province released its second-quarter fiscal update in late November.
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