http://www.calgaryherald.com/business/energy-resources/discounts+expected+cost+Canada+year/8190302/story.html
APRIL 3, 2013
Discounts being paid for Canadian crude have narrowed substantially in recent weeks but still stand to cost producers and governments billions for the next few years, a new report says.
In the latest of many studies warning that the United States is a shrinking market for Canadian energy products, CIBC said Wednesday that Canada will continue to give up about $15 billion US in annual “opportunity costs” even if the Keystone XL pipeline wins U.S. government approval this year.
The cost figure is calculated based on the additional discount Canadian crude receives versus historical norms.
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He explained WCS or Western Canada Select, a blend of heavy crudes, is trading at near its historical discount of $17 US per barrel relative to WTI or New York-traded West Texas Intermediate. But WTI is far below its historical average $2 premium over European-traded Brent oil.
