April 22, 2014
Canada: The Next Oil Superpower?
Robert Collier, The National Interest
The Associated Press
Canada’s unique brand of pipeline politics is driven by its strategic need to find new customers in Europe and Asia. Fully 97 percent of Canada’s oil exports go to the United States, where crude prices have been depressed by the U.S. shale-oil boom. As a result, Canada needs to sell on global markets, where the benchmark Brent crude typically sells far higher than the U.S. benchmark, West Texas Intermediate.
TAGGED: Oil, Keystone Pipeline, Keystone XL Pipeline, Canada