Opinion: As more oil moves by rail, Lac-Mégantic lessons still unlearned
The Alberta oil industry is in deep trouble because of the huge price discount (by as much as $50 US per barrel) for bitumen (West Canadian Select) compared to the U.S. benchmark West Texas Intermediate oil price, which itself has plummeted in recent months.
The main culprit, according to producers, is a supply glut caused by pipeline bottlenecks, due largely to government-imposed delays in new pipeline construction: notably Trans Mountain, and more recently Keystone XL.
Curiously, companies did
Read more »