Oh-oh: From this post --
Canadian heavy crude prices have traded at an average discount to West Texas Intermediate future of almost $22 a barrel this year, about 70 percent bigger than the average discount last year, after existing pipelines filled to capacity amid a surge of new production from Suncor Energy Inc.’s Fort Hills oil sands mine.
The discount widened 50 cents to $24 a barrel on Wednesday.Back-of-the-envelope: Canada exports in excess of 4 million bbls of oil to the US every day. 4 million bbls/day x $24/bbl = in round numbers, $100 million each day is what Canada is losing -- just on exports to America because they can't get the pipelines built. $100 million / day = $3,000 million / month?
Disclaimer: I often make simple arithmetic errors.
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Back to the Bakken
| $65.39→ | 6/21/2018 | 06/21/2017 | 06/21/2016 | 06/21/2015 | 06/21/2014 |
|---|---|---|---|---|---|
| Active Rigs | 62 | 59 | 27 | 77 | 189 |
RBN Energy: a drill down report on emerging natural gas transportation bottlenecks in Louisiana.
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