Canada’s benchmark heavy crude, Western Canada Select (WCS), is trading at a steep discount to West Texas Intermediate (WTI) after weakening sharply last month, and is expected to remain subdued well into next year.
Why is WCS under pressure?
WCS for delivery at the Hardisty, Alberta, hub is trading close to $30 a barrel under WTI, having averaged $16.67 a barrel below WTI for the first three quarters of 2022.
Government by lies and theft!!! Taxpayer-funded ecocide!!!
Oct. 6, 2022
Enough magic tricks – we're exposing the math on #TransMountain. Watch to learn how the federal government is using corporate shells to hide TMX's full financial picture from the public.
Canada must make an “audacious and hopeful offer” to oil and gas workers communities with a new Climate Emergency Just Transition Transfer to deliver clean economy jobs, the Commons Finance Committee heard yesterday.
Collectively refusing to work overtime can be illegal in Alberta, highlighting Canada’s poor labour standards.
A couple of weeks ago, workers who install scaffolding at a Suncor Inc. site in Alberta were informed by their employer that if they didn’t stop refusing “voluntary” overtime, they could be fired, fined or possibly jailed.
Trans Mountain will not have to come up with an additional $1.1 billion to cover the cleanup cost of possible oil spills from its expansion project, the Canada Energy Regulator has decided.
The touted tech is still scarce and pricey, and even oilsands allies counsel caution.
In late June, Alberta Premier Jason Kenney flew to Washington, D.C., with the heads of major oilsands producers to make the case that Canada’s most carbon polluting industry cares deeply about fixing climate change.
Secret reports the federal government is relying on to argue the Trans Mountain pipeline expansion is commercially viable are based on the unrealistic assumption the pipeline will operate for 100 years, Canada’s financial watchdog told Canada’s National Observer.
When Trans Mountain's new pipeline and facilities are ready to operate, the company says "a slight increase" to its $1-billion liabilities plan for the existing pipeline will be sufficient to cover the risk of an oil spill on either the current line or its new counterpart.
The decision by Canada’s six biggest banks to sink another $10 billion into the troubled Trans Mountain pipeline expansion is no surprise after a federal loan guarantee made it a straightforward business decision to back the project, says the financial analyst who accurately predicted the decision 2½ months ago.
