Can Canadian Crude Compete In Asia?

6 Jun 2017   Canada

Will the Canadian oil producers rake in higher prices for their crude oil if they sell to Asia? Is the U.S. unfairly discounting Canada’s heavy crude oil stream – the Western Canadian Select (WCS)? Will the Kinder Morgan Trans Mountain project be a game changer for the Canadian producers? The Ottawa and Alberta government certainly thinks so. However, scientist and energy resources expert David Hughes is of a different opinion. In his new report titled “ Will the Trans Mountain Pipeline and tidewater access boost prices and save Canada’s oil industry? ”, he argues that “ Canada’s oil is not being unfairly discounted by the U.S.” “Oil prices internationally and in North America are now nearly identical. That means Canadian crude producers are likely to receive lower prices overseas than in the U.S. because of the higher transportation costs involved in transporting bitumen by pipeline to B.C.’s coast and […]

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