Canada has no options available to send more oil to the U.S. For the last month production in Canada has been cut due to no more storage space, existing pipelines are at capacity, and further rail capacity is not available. Their heavy oil was selling at a $40 discount instead of a typical $22 below WTI. WCS became unprofitable to extract and process.
O.C. representing the Bronx had a hand in protest against pipelines. The Keystone Pipeline was the preferred way to supply American refinery with Canadian heavy oil. The Albertan sourced oil competed with Venezuelan crude for that spot. Obama favored Chavez and used various strategies to block completion of the pipeline linking the U.S. and Canada.
Ozark Tom: O.C. representing the Bronx had a hand in protest against pipelines. The Keystone Pipeline was the preferred way to supply American refinery with Canadian heavy oil. The Albertan sourced oil competed with Venezuelan crude for that spot. Obama favored Chavez and used various strategies to block completion of the pipeline linking the U.S. and Canada.
Thanks Ozark Tom.