Has Big Oil exposed itself to billions in losses from a widening price differential between light (West Texas Intermediate, or WTI) and heavy (Western Canadian Select, or WCS) oil?
That’s the hypothesis in a report by Scotiabank as reported in The Vancouver Sun on Feb. 20 (Pipeline delays impose demonstrable cost ($10.7 billion) to Canada’s economy: Scotiabank).
Alberta recently took its battle with British Columbia over Kinder Morgan’s Trans Mountain pipeline project to B.C.’s major daily newspapers.
The provincial government’s full-page advertisement lamented the dispute between the Alberta and B.C. governments over the need and wisdom of the pipeline project.
A group of North Coast First Nation hereditary leaders says it is in full support of the federal government’s proposed oil tanker ban.
The Allied Tribes of Lax Kw’alaams says there have been misconceptions about who represents the hereditary leadership of the First Nation. The leadership group says that the Chief’s Council set up to advise proponents of the Eagle Spirit Energy project has been misrepresented as the voice for hereditary leaders in Lax Kw’alaams.
A group called the Justin Trudeau Brigade has stepped up the battle against the Kinder Morgan pipeline expansion project.
According to founding member David Mivasair, the group has been staging daily blockades at the company’s Westridge Marine Terminal in Burnaby since the middle of January this year.
More than 50 local and North Vancouver Squamish Nation protesters and supporters headed down Capilano Road south of Marine Drive Thursday as they marched to demonstrate outside the Kinder Morgan facility on the North Vancouver waterfront.
Re: “Pipeline woes have cost Canadians a whopping $117B, says TD’s McKenna,” Chris Varcoe, Opinion, Feb. 17.
Feb 24, 2018 - Frank McKenna’s statements are packed with strong conclusions in defence of Canada’s economy. Regrettably, facts tell us he is wrong.
McKenna laments the discount between the U.S. light oil benchmark, West Texas Intermediate (WTI), and Western Canadian Select (WCS), Alberta’s oilsands benchmark. He says, “this is a colossal amount of money for Canadians to lose, simply because they don’t have access to competitive markets.”
Alberta Premier Rachel Notley is temporarily ending her province's ban on B.C. wine after Premier John Horgan announced a new court action to defend rules that could stop Kinder Morgan's Trans Mountain pipeline expansion project.
"We'll be buying wine again," Notley told reporters at a late afternoon news conference.
