Tuesday, November 4, 2014

Keystone or no Keystone – that is the question!

It doesn’t just matter…or so says Alberta’s premier. Crude from Canada’s oil sands will supply Gulf Coast refineries regardless of how President Obama rules on the Keystone XL pipeline. Read it here.

Is this optimistic thinking or false hope? I guess it depends on what policy you’re pushing. One thing in their economic favor is the fact that Canada’s heavy oil is now only discounted $15 under the U.S. WTI benchmark price versus $43 just two years ago. But will any of it matter if oil drops to $70/bbl?