Posted on 02/06/2024 8:09:41 AM PST by george76
Following the news that Trans Mountain Corporation will start filling the expanded pipeline in February, with first crude to be loaded from Vancouver in April, Canadian crude prices jumped to the narrowest discount to WTI since August 2023.
U.S. refiners used to cheap Canadian crude will need to start budgeting more for the commodity from this spring.
Canadian oil producers are preparing for the 890,000 bpd in takeaway capacity growth.
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U.S. refiners used to cheap Canadian oil might need to reach deeper into their pockets to keep buying it.
The idea behind the Trans Mountain expansion was to turn Canada into a true oil exporter, reaching international markets rather than just the U.S. market
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Trans Mountain Corporation will start filling the expanded pipeline in February, with first crude to be loaded from Vancouver in April, Canadian crude prices jumped to the narrowest discount to WTI since August 2023. The current discount is about $16 per barrel.
This means that U.S. refiners used to cheap Canadian crude will need to start budgeting more for the commodity from this spring—assuming the project does not hit yet another snag. You never know, after in September the Canadian Energy Regulator gave TMC the go-ahead to change the route of the expanded pipe due to challenging terrain.
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Trans Mountain pipeline will indeed see the light of day as an operating pipeline, but it seems it might happen after all. And that means more expensive oil for U.S. refiners. They’re about to encounter some international competition for Canadian crude.
(Excerpt) Read more at oilprice.com ...
And of course, filthy Canadian leftists fought this pipeline every step of the way.
It means simply more sales outlets for Canadian oil producers, more jobs for Albertans, a more developed and powerful oil and gas industry.
Oil that would have gone to the U.S. via the Keystone XL will now go to China.
If only by Biden the Marxist creep didn’t kill the pipeline from Canada to the US.
Yes. Good for Canada. Not so good for the US.
Bingo.
This is what the 3rd Obama Administration has brought us.
this is crude going to china
another stabbing in the back of the American people by the leftist American government
4th
Trans Mountain? Is this a valley that identifies as a mountain? Wonder what its pronouns are...
True. This pipeline system is more a result of the greed of US oil buyers asserting their leverage to buy Canadian oil at a steep discount. We essentially said "Where else you gonna sell it"? Well, this is Canada's answer. Now we will pay closer to market rate. No doubt that US oil companies were funding the Canadian environmentalists and "first nation" in their lawfare to delay this project for decades.
Is this a desalted crude ready for immediate refining?
Now the reason for cancelling Keystone becomes clear.
Finally, something “Trans” I’m in favor of.
Yours is the comment that is succinct and makes the most sense. I totally buy your explanation.
The traitorous DS O’Biden gang is strangling the US. That pretend African wants the US to be like Africa. It is easier to rape and pillage the natural resources. The people from Paul Ryan, Mitch McConnel, to C. Christie and Biden are evil. There is no other way to describe them. By their actions, you will know them. They can talk smooth and sweet, but what they DO speaks volumes.
30 years ago that same company wanted to rum a pipeline beneath Puget Sound. Beside the outrage, it was pointed out that currents exceeding 4 knots pushed boulders the size of a house along groves worn in the rock. They went away.
How can a current of 4 knot push boulders the size of a house, at enough speed to damage anything? Any groove on the bottom of the Sound or Straits would have to have happened over millenia. Put in a pipeline, accomodated for moving boulders and move on. You sound like a eco-terrorist like those stopping all pipelines and drilling.
I have lived in Washington State for 70 years and never heard of this pipeline project, that was stopped because of a current pushing rocks.
I have lived in Washington State for 70 years and never heard of this pipeline project, that was stopped because of a current pushing rocks.
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Well then, you missed out. Sorry. I was involved in stopping it.
The boulders have been visually observed rolling by shellfish divers.
You do not seem to understand the power of water - 4 kts is a very fast current.
Canada First. Good for them. Everybody first. Nobody should export jobs or the ability to fairly educate, manufacture, and feed themselves.
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