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You have to track it from well head to delivery point. Plus the origin of diluent, even if the diluent has been reused many times, you might not even know where it comes from. So if your 500,000 barrel delivery came from 20 different oil companies, you need 20 different paper trails.So is our energy not compliant? Haven't heard anything about that during this whole debacle....
Partially, but the real recent downward pressure on oil is the new expectation of a collapse of oil demand globally triggered by the massive unilateral tariff policy of the Americans and expected counter-tariffs. Everyone is now thinking global recession is incoming and global oil prices are cratering (along with most other things).From a high level simplistic view, is this recent drop in price for WCS, more or less the price coming down so the purchasing price stays the same for the US buyers?
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Yeah. Based on prices this morning, provincial revenue could be $4.5 billion below expectations. It is only 4 days into the fiscal year though.That person who did a victory dance two days maybe danced too early...
“Yes, we would like to see a positive FID from LNG Canada 2,” Jonathan Wilkinson, the natural resources and energy minister, said in an interview.
The minister outlined a series of west coast projects that he said would - if all were built - make Canada the fifth biggest LNG exporter in the world, allowing it to find buyers for 50% of the gas it currently sends exclusively to the US. They included LNG Canada, as well as Cedar LNG and Woodfibre LNG.
There’s a debate about shipping that oil from the western province of Alberta to Canada’s east coast. Such a pipeline is “on the table,” but a “very challenging route,” Wilkinson said, citing companies he’s spoken with, because it would take a long time and cost C$40 billion to C$50 billion, probably require significant federal government financial support
An easier first step in increasing Canada’s oil-export capacity would be to upgrade the Trans Mountain pipeline that runs from Alberta to the British Columbia coast, Wilkinson said. Modifications would help the pipeline carry an additional 200,000 to 300,000 barrels a day. Trans Mountain Corp., which is owned by the government, is looking at that, Wilkinson said.
Canada is assessing other options to reduce its reliance on a section of pipeline that goes through the US Midwest before reentering Canada through Ontario. That may include bringing more oil in from Newfoundland to ports in Atlantic Canada and Montreal, or moving some through existing infrastructure from Quebec into Ontario, he said.
Unless it is vetoed.That is irrelevant. Congress can pass subsequent legislation to reverse this.
It's the decline of global oil prices, Canadian oil is actually holding its price much better than global benchmarks. WCS/WTI (US/Global Benchmark) is actually at it's narrowest in a while. As of now, WTI is about $60.92 and WCS is $52.57, discount of $8.35. For context, this was the Budget 2025 differential forecast,From a high level simplistic view, is this recent drop in price for WCS, more or less the price coming down so the purchasing price stays the same for the US buyers?
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boereport.com
WTI ten minutes ago was $60.81. WCS 13 hours ago was $49.64. Settling to its regular, but still good range.WTI is about $60.92 and WCS is $52.57
The marginal pipeline is TMX, which has higher tolls. The marginal barrel on TMX also is going into a tanker, where you have that cost too, but then it is priced near Maya so it offsets a bit.Now when demand recovers, our capacity relative to demand falls, increasing the price differential.
The Quebec line, is in line with what Poilievre says in french, when talking about respecting Quebec's jurisdiction. Or at very least, that is how people hear it.Quebec uses 350,000 on average barrels of oil a day, 70 per cent of which comes from the U.S. There is a big advantage to Canada to push that out, use our own oil, use the resources from that for other things, including protecting our environments (and) our social programs.
we will only do that in the case where we have the support of First Nations (and) we have the support of all the provinces, obviously including Quebec in the example that I gave.
“Yes, we are open to having one project, one review, to speed these projects of national interest, but that’s because we have confidence in the environmental standards in this case of the province of Quebec.”
