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AMERICAS OIL: Canada Wants New Oil Pipelines; Nobody Wants to Build Them

AMERICAS OIL
USEnergy BulletsNorth AmericaBulletCommodities

Canada Wants New Oil Pipelines to Avoid Trump Tariffs; Nobody Wants to Build Them: Reuters

  • Several Canadian politicians have called for new pipelines be built to coastal export terminals to reduce dependency on the U.S. market after US President Trump threatened tariffs on Canadian oil exports.
  • Oil is the most valuable export of Canada, which sends 90% of its 4 mb/d in oil exports to US refiners.
  • Canada's Liberal Energy Minister, the Conservative opposition leader and several provincial premiers have all called for new pipelines to take crude to Canada's west, east and north coasts. But no private company has expressed recent interest.
  • Two big east-west projects have been canceled in the last decade, and a Canadian company also lost billions when former President Biden revoked permits for the Keystone XL pipeline project to the US in 2021.
  • Trump on Monday said he wanted Keystone XL built and pledged easy regulatory approvals. But on the same day, he said tariffs on US imports from Canada and Mexico would proceed in March.
  • A report last year by S&P Global Commodity Insights said Canadian oil sands output rose by 1.3 mb/d in the last decade, and could rise an additional half-million b/d by 2030.
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Canada Wants New Oil Pipelines to Avoid Trump Tariffs; Nobody Wants to Build Them: Reuters

  • Several Canadian politicians have called for new pipelines be built to coastal export terminals to reduce dependency on the U.S. market after US President Trump threatened tariffs on Canadian oil exports.
  • Oil is the most valuable export of Canada, which sends 90% of its 4 mb/d in oil exports to US refiners.
  • Canada's Liberal Energy Minister, the Conservative opposition leader and several provincial premiers have all called for new pipelines to take crude to Canada's west, east and north coasts. But no private company has expressed recent interest.
  • Two big east-west projects have been canceled in the last decade, and a Canadian company also lost billions when former President Biden revoked permits for the Keystone XL pipeline project to the US in 2021.
  • Trump on Monday said he wanted Keystone XL built and pledged easy regulatory approvals. But on the same day, he said tariffs on US imports from Canada and Mexico would proceed in March.
  • A report last year by S&P Global Commodity Insights said Canadian oil sands output rose by 1.3 mb/d in the last decade, and could rise an additional half-million b/d by 2030.