President Trump granted permission to TransCanada Corporation to construct pipeline capacity at the border.
crude oil pipeline
Compared to U.S. crude, Canadian heavy crude traded at a 41 per cent price discount.
Oil price discount recently reached nearly 60 per cent.
Court rejects Trans Mountain project approval—more crude-by-rail means lost revenue for oil producers, economy
Pipelines are 2.5 times safer than rail transport.
Canadian heavy oil producers will lose an estimated $15.8 billion this year in foregone revenues.
Price controls led to long lineups and dry tanks at gas stations.
Due to pipeline constraints, Canadian oil producers are selling unrefined bitumen at a fraction of the price many competitors receive.
Ottawa has injected a large number of subjective criteria into project analysis.