Achieving Energy Security through Integrated Canadian-American Markets
The Canadian-US oil and gas sector has become deeply integrated over the last two decades. This is a success story in which competitive market forces by and large have displaced various attempts at government intervention on both sides of the border. Deregulation here does not mean the end or absence of regulation but rather regulatory measures that are geared to optimize free-market exchanges. Without much formal governance, Canada and the United States enjoy the world?s most integrated and efficient energy border. In fact, the border is usually invisible as trade in oil, gas (and also electricity) flows in a patchwork of densely interconnected regions.
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