The Indicator: 1.5 million
THAT’S THE NUMBER OF BARRELS PER DAY OF
Canadian crude that U.S. Gulf Coast refineries could process if pipeline access to the region was expanded. This 50-percent increase over today’s capacity is estimated by the Canadian Energy Research Institute (CERI). In the past 10 years, heavy crude imports from Mexico and Venezuela to those refineries have shrunk, leaving excess capacity that Canadian oil sands producers could fill. But shipping crude by rail from Canada to the U.S. Gulf Coast is wholly uneconomic from the producer’s standpoint, according to a CERI study. The study found that net revenues for Canadian producers average about US$13 per barrel before transportation costs.
A yard in Gascoyne, U.S. houses hundreds of kilometers of pipe sections that are supposed to make up the Keystone XL pipeline, should it ever be approved. This photo was taken on April 22, 2015. The pipe sections have been sitting at this location for...