Skip to comments.Canada's pipelines are at capacity: Enbridge
Posted on 11/21/2012 6:20:07 PM PST by Squawk 8888
CALGARY - With a glut of Canadian crude being produced, the nation's network of pipelines have reached their capacity, says a spokesman for Canada's top oil mover.
While analysts had expected to squeeze a few more years out of existing pipeline infrastructure, Enbridge spokesman Todd Nogier said those lines are now full, prompting the need to build more.
"I think it really underlines the importance of building pipeline infrastructure," Nogier said. "The supply is rising exponentially, not just in the oilsands, but in the U.S. as well."
The revelation comes while two significant projects Enbridge's Northern Gateway pipeline and TransCanada's Keystone XL pipeline are mired by regulatory hurdles and protests.
"I would say it's more challenging because there are more pockets of opposition," he said. "I think there is greater attention on pipelines ... than in the past and the industry is adjusting to that."
Enbridge currently has $13 billion invested in at least nine secured pipeline projects throughout Canada and the U.S., focusing on boosting access to eastern Canadian refineries, Canada's West Coast and refineries on the U.S. Gulf Coast.
Nogier said one of the energy giant's main goals is moving more Alberta crude to refining centres in Montreal, which currently pay a premium to import oil from the U.S. or overseas producers.
Sending western Canadian oil to U.S. refineries as well as foreign markets via western ports also tops the company's agenda.
"There's a glut of oil and it's really reducing the price for Canadian oil," Nogier said.
Remember back in the 70s when all the talk was of running OUT of oil?? Times sure have changed ....
Sounds like the run-up to Wyatt’s Torch except instead of rail lines, we’re messing with pipelines. Thank you, stupid and uninformed electorate!
Don’t forget Algore said if you build the Keystone XL pipeline it will be the END OF THE WORLD LOL
Defund the EPA, build the Keystone, drill baby drill, and frack until you can’t frack no more!
I worked on a service rig in the seventies, our job was to shut down wells because we were producing too much oil, we were also ORDERED to reduce production on wells that produced “too much” Oil, this was ORDERED BY THE GOVERNMENT, specifically the newly created Dept of Energy created by Jimmy Carter. All of it was designed to Make America Dependent on FOREIGN NATIONS run by despots and dictators because they were collapsing under their own weight. Now look at Saudi Arabia, see how well they are especially since they did not Do a damn thing to produce a single drop of oil EVER, except Throw the Brits out and STEAL THEIR OIL WELLS Assume everything is a LIE and a FRAUD if it is on TV. You will be right 90% of the time.
It’s almost 2013, and our oil remains landlocked?
This is pathetic.