Re: Pipelines and CDN Deficits-Kinda Funny
in response to
by
posted on
Aug 24, 2011 06:36PM
Connacher is a growing exploration, development and production company with a focus on producing bitumen and expanding its in-situ oil sands projects located near Fort McMurray, Alberta
B-Jay we export 2.5M bbl/d to US. Eastern Canada can use 700,000 bbl/d of this but Canada doesn't have the infrastructure, as up to the last year it was cheaper for them to import from Middle East.
The Asian market would simply add another outlet to the growing supply Alberta is producing, most likely about 500,000 bbl/d. This would not hurt the US, it might actually help bring Brent down, that in itself would help the U.S. immensely. I can see Brent coming closer to WTI with the Keystone XL moving forward. I also think a pipeline to Eastern Canada would happen before the Gateway pipeline to Kitimat. The First Nations carry a lot of clout, maybe too much.