Canada Looks to Future Beyond Keystone XL,COVID-19

摘要

With production curtailments lifted and a post-COVID-19 upturn in sight, Canadian oil production is on the rise, prompting concerns that output from Alberta's oil sands could again exceed takeaway capacity within a few years, even if current pipeline construction is completed. The apparent demise of Keystone XL has shaken Canada's energy industry and provincial governments to their core, costing jobs, investments and future income in Canada and the U.S. alike. But Canada will bear the overwhelming brunt of U.S. President Joe Biden's decision on his first day in office to block the pipeline's construction. Its loss makes other Canadian pipeline projects all the more important. "One of the things we had to cope with because of not having enough capacity to reach markets for the oil was that our storage filled up and differentials blew out to the extent that it was uneconomic to produce, and the provincial government of Alberta curtailed production. It was a disastrous situation," said Chris Bloomer, president and CEO of the Canadian Energy Pipeline Association (CEPA).