Canadian Oil Falls To Weakest Price In Three Years

Not enough capacity to deal with our supply.

Canadian oil has fallen to the lowest price since 2014.

According to the Financial Post, “Canadian crude’s discount to West Texas Intermediate futures has widened more than US$10 since August as pipeline companies including Enbridge Inc. rationed space amid high Western Canadian inventories. Rail cars struggled to catch up on deliveries after line disruptions over the past two months.”

An analyst said “It’s the perfect storm of too much supply and not enough capacity.”

This is lost potential wealth for our country. While the workers of the oil industry are doing everything possible to produce more oil, our pipeline capacity is lagging behind.

Even with some new pipelines being constructed, the political elites have been placing more and more restrictions on the energy sector, with an escalating carbon tax that will have more damaging consequences year after year.

They have also blocked efforts to make Canada truly energy independent, by making the Energy East Pipeline untenable, and continuing to buy oil from countries like Saudi Arabia.

At the same time, it is clear that there is strong demand for oil (despite the lies of the elites), and Canada must do far more to support our energy industry, cut red tape, eliminate the carbon tax, and bring our country the wealth, independence, and prosperity we deserve.

Spencer Fernando

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Del
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Del

To help alleviate financial shortfalls, we fully expect the West coast and Liberal environmental jihadists to cut up their Health Care cards, remove their spawn from wasting classroom spaces and of course donate their cars. Public transport or walking is great. While they are at it, treat plastic and nylon like some “religions” treat pork. Run away and refuse to use it. Same with natural gas. Weave or knit nice warm coats for the walk to work. They will find electrical heat is really really expensive.

Anything less would be hypocritical.

Don Harrison
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Don Harrison

Spencer you are doing a great job but these last remarks about the west coast are incomplete and favour only one side of the problem. (A) Alberta heavy oil does not float and is therefore impossible to clean up if a spill does occur. (B) Our southern Orca population is very sensitive to ship noise and this oil ship problem only makes it worse. They are very precious to west coasters and we will do what we can to protect them. (C) Although Canada,s treasury and Alberta,s oil industry will suffer from west opposition we on the west coast must… Read more »

Maggat
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Maggat

Easy does it now Del. Liberal environmental jihadists, yes. However, there is an overwhelming desire here in BC to get going with the necessary projects to get Canada’s products to market, and don’t lose sight of the Energy East debacle. Certainly not the West Coast’s doing.

Maggat
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Maggat

Interesting how my comment disappeared.

Maggat
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Maggat

OK, it magically reappeared. Confused.