Canada at ‘Crossroads’ in Bid to Become Oil Export Superpower
From The Spec
By Jeremy van Loon & Rebecca Penty
Canada’s bid to become what Prime Minister Stephen Harper calls an energy “superpower” is at risk as approval delays for new pipelines threaten an industry already hurt by high costs and rival production.
The world’s sixth-largest crude producer can’t get its surging crude supplies to markets in Asia where prices are higher than in North America. Decisions in the next year or so on proposed pipelines designed to connect oilsands production to supertankers on the Atlantic and Pacific coasts may set the tone for the future of the nation’s energy industry.
“There’s no doubt that over the next 12 to 24 months, there will be some significant decisions made on pipelines infrastructure in Canada,” Ian Anderson, president of the Canadian division of Kinder Morgan Energy Partners LP, said in a Nov. 29 interview in Lake Louise, Alta. “What’s important about the time frame is, there’s a window of opportunity here to build this infrastructure.”
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