A high price differential means lower-than-expected royalties for governments.
In November 2018, Canadian heavy oil was sold at 30 per cent of the value of U.S. oil.
President Trump granted permission to TransCanada Corporation to construct pipeline capacity at the border.
Compared to U.S. crude, Canadian heavy crude traded at a 41 per cent price discount.
Iraq and Mexico will likely benefit in the race to replace Venezuela’s heavy crude.
Washington eased federal vehicle emissions standards and repealed a regulation on hydraulic fracturing.
Canadian exporters face increasing competition from a growing shale oil industry in China.
The Notley government imposed a 100 megatonne cap on greenhouse gas emissions from the oilsands.
Bill C-69 would add more uncertainty to Canada’s already onerous regulatory process.