Canada Unveils New Pipeline to Cut Reliance on U.S. Oil Routes
India Proposes Stricter Vehicle Emission Rules To Cut Oil Consumption Felicity Bradstock is a writer and journalist based in Mexico City.
She writes for energy websites and covers several other industries, as well as writing… A new oil pipeline could connect eastern and western Canada as the oil-rich country seeks to become more self-reliant and reduce its energy dependence on the United States.
However, not everyone is in support of the project, which is at odds with Canada’s climate targets.
Alberta is home to vast oil reserves, totalling around 158.9 billion barrels.
At present, the United States is the main importer of Canadian crude, which accounted for63.4 per cent of U.S.
In recent years, as Canada’s federal government has favoured plans for a green transition, thereby hindering the expansion of the oil industry, there have been calls from a minority of Alberta residents to hold a referendum on apotential separationfrom Canada.
The governments of Alberta and Canada have now joined together to propose a new oil pipeline capable of transporting oil from western to eastern Canada, to reduce reliance on U.S.
infrastructure and develop new export markets.
The proposal reflects a long-discussed idea that was eventually abandoned almost a decade ago.
At present, oil istransportedfrom Alberta to Ontario via the United States, andthe state of Michigan has previously threatenedto shut down that route, thereby putting Canada’s energy security at risk.
Alberta’s Premier, Danielle Smith, said the proposed 3,300-kilometre oil pipeline would start in Hardisty, Alberta, and traverse Saskatchewan, Manitoba, and northern Ontario before heading south to Sarnia, Ontario, and would be capable of transporting up to 500,000 bpd of crude a day, with a future potential of up to 800,000 bpd.
Once developed, the pipeline could potentially be extended to Canada’s Atlantic coast to open new export routes to Europe.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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