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U.S. Refiners Should Brace for Trans Mountain Pipeline Launch. ( Canada )
Oil price ^ | Feb 01, 2024 | Irina Slav

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.

...

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

...

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.

...

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 ...


TOPICS:
KEYWORDS: canada; china; keystone; keystonexl; pipeline; pipelines

1 posted on 02/06/2024 8:09:41 AM PST by george76
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To: george76

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.


2 posted on 02/06/2024 8:12:11 AM PST by PGR88
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To: george76

Oil that would have gone to the U.S. via the Keystone XL will now go to China.


3 posted on 02/06/2024 8:15:23 AM PST by Yo-Yo (Is the /Sarc tag really necessary? Pray for President Biden: Psalm 109:8)
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To: george76

If only by Biden the Marxist creep didn’t kill the pipeline from Canada to the US.


4 posted on 02/06/2024 8:15:44 AM PST by wildcard_redneck (He who sacrifices freedom for security deserves neither.)
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To: PGR88

Yes. Good for Canada. Not so good for the US.


5 posted on 02/06/2024 8:17:37 AM PST by hinckley buzzard ( Resist the narrative. . )
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To: Yo-Yo

Bingo.

This is what the 3rd Obama Administration has brought us.


6 posted on 02/06/2024 8:33:39 AM PST by FreedomPoster (Islam delenda est)
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To: george76

this is crude going to china

another stabbing in the back of the American people by the leftist American government


7 posted on 02/06/2024 8:38:36 AM PST by Chickensoup
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To: FreedomPoster

4th


8 posted on 02/06/2024 8:39:10 AM PST by Chickensoup
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To: george76

Trans Mountain? Is this a valley that identifies as a mountain? Wonder what its pronouns are...


9 posted on 02/06/2024 8:42:52 AM PST by 17th Miss Regt ( )
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To: hinckley buzzard
Yes. Good for Canada. Not so good for the US.

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.

10 posted on 02/06/2024 8:49:38 AM PST by ETCM (“There is no security, no safety, in the appeasement of evil.” — Ronald Reagan)
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To: george76

Is this a desalted crude ready for immediate refining?


11 posted on 02/06/2024 8:52:48 AM PST by 353FMG
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To: Chickensoup

Now the reason for cancelling Keystone becomes clear.


12 posted on 02/06/2024 9:02:51 AM PST by cbvanb
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To: george76

Finally, something “Trans” I’m in favor of.


13 posted on 02/06/2024 9:11:18 AM PST by Uncle Miltie (Objective: Permanently break the will of the population to ever wage war again.)
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To: cbvanb

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.


14 posted on 02/06/2024 9:39:38 AM PST by Glad2bnuts (“And how we burned in the camps later, thinking: We should have set up ambushes...paraphrased)
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To: george76

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.


15 posted on 02/06/2024 9:57:17 AM PST by PIF (They came for me and mine ... now its your turn)
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To: PIF

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.


16 posted on 02/06/2024 10:12:37 AM PST by Glad2bnuts (“And how we burned in the camps later, thinking: We should have set up ambushes...paraphrased)
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To: Glad2bnuts

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.


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.


17 posted on 02/06/2024 12:20:40 PM PST by PIF (They came for me and mine ... now its your turn)
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To: ETCM

Canada First. Good for them. Everybody first. Nobody should export jobs or the ability to fairly educate, manufacture, and feed themselves.


18 posted on 02/06/2024 5:12:46 PM PST by If You Want It Fixed - Fix It ( )
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