Crude Landlocked as Canadians Join U.S. to Halt Pipelines

[xchrom]

http://www.bloomberg.com/news/2013-05-23/crude-landlocked-as-canadians-join-u-s-to-halt-pipelines.html

British Columbia, the Canadian province whose official slogan to its own beauty is “Super, Natural,” is invoking another saying: “No more supertankers.”

That’s potentially big trouble in a nation where oil exports amount to $73 billion annually and the industry employs more than 550,000 workers. It’s also a bad omen for nations, notably China, that have invested billions in Canadian oil projects with expectations that they will one day be able to buy vast quantities of heavy Canadian crude.

To do that means not just pumping it from the vast tar sands -- thought to hold as many as 170 billion barrels -- lying mainly to the east in the neighboring province of Alberta. It also means building pipelines to carry that heavy oil, known as bitumen, west to the coast. From there, fleets of supertankers will be needed to ship it across the Pacific to Asian markets that desperately want cheap oil.

Two such projects, representing about C$11.4 billion ($11.1 billion) in investments, are on the drawing boards. British Columbia, with its mountainous forests, national parks and salmon streams standing between the crude and the sea, wants no part of those pipelines -- nor does it want its scenic bays to be turned into supertanker terminals.

[BlueToTheBone]

1. Kicking with joy! n/t

[Socialistlemur]

2. This will lead to more oil exports to the USA

I'm sure the USA will benefit because the Canadian crude will move south. Eventually we may see additional upgrading of the crude to ship it as a high quality light oil. It may also be shipped to the UK.. . .?

[FogerRox]

3. The tar sands largest selling product is syncrude.

The low sulfur sweet light syncrude is a good match for western WU refineries.

[FogerRox]

4. cant get to port without going thru First Nation lands

For the time being the Northern Gateway pipeline proposal is DOA.