Canadian oil selling at big discount because of pipeline delays

Federal and provincial governments are reeling from the impact of the lack of pipelines and new markets for Alberta crude – an alarming dilemma that could cost Canada more than a trillion dollars in lost economic activity.

With no quick fixes in sight, both the federal Conservatives and the Alberta Tories led by Alison Redford are now readjusting revenue projections and deferring plans to balance their respective budgets.

Alberta’s oilsands bitumen is selling at a $36-a-barrel discount because of a glut of oil in the United States and a lack of pipelines to get the Canadian product to the eastern and western coasts and down to the Gulf of Mexico.

Calgary Herald

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