Political promises squeeze Canadian oil industry

摘要

The oil industry had eight years of an energy friendly government in Canada and couldn’t get a single new export pipeline built. Now, with newly elected Prime Minister Justin Trudeau keeping his campaign promise of banning tanker traffic off parts of Canada’s west coast, it put the already reeling industry further on its heels and could eventually force more production shut-ins and cuts in investment due to a lack of access to global crude markets. The previous Harper-led government and industry put its eggs in the Keystone XL basket and in the end got sideswiped by the US government not approving KXL while giving the nod to US crude exports. Apparently US shale development is less an environmental concern that Canadian oil sands.