The expansion of the Trans Mountain pipeline has increased oil export capacity for Canada, but oil prices remain at a discount due to various factors.
The launch of the expanded Trans Mountain oil pipeline earlier this year was a kind of unique event. In a place where the government did not care much for pipelines and many people also didn't care for pipelines, a big one was allowed to start operating. And there were great hopes attached to it. Some of these have materialized—Canadian oil sands operators are boosting production. But others have been late in materializing—Canadian oil prices are still trading at a hefty discount to the U.S.
It's up, it's operating and it's operating well,' he also said, reminding the audience on the conference call where he was speaking about the Netflix serialization-worthy saga that was the story of Trans Mountain. The massive project was riddled with problems from the beginning, the biggest of which was environmentalist opposition that included not only activists from the general public but also the federal government.
Canada Oil Oil Sands Prices Discount Export Production WTI Refineries
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