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With a rapidly dropping oil price, experts suggest looking across the Pacific Ocean to divest its traditional, north-south oil trading route, but the delay in pipeline construction inhibits Canada's oil and natural gas reaching B.C.'s coast. A backlog of oil is the result of low pipeline capacity, creating a lot of supply and driving down the price. Western Canadian Select (WCS), Canada's benchmark crude oil that comes from Alberta's oil sands, has been in a free fall, dropping

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News

Eastern promises: Canada should look to Asia to shift away from a sole export market, say experts

By Neil Moss      

By 2030, China will surpass the United States as the largest global consumer of oil. At the same time, its government is trying to diversify its oil dependency on the Middle East.

Alberta Premier Rachel Notley speaks to reporters after giving a speech to a crowd of businesspeople in Ottawa last week. She announced on Nov. 28 that Alberta will be purchasing additional rail cars so it can transport 120,000 more barrels of oil per day. The Hill Times photograph by Andrew Meade
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