Canada Makes a Big Pitch
Alberta Premier Jason Kenney yesterday stopped by the U.S. Capitol for a visit with the Senate Energy and Natural Resources Committee to discuss energy security. And the timing couldn’t have been sweeter. Russia war upends Western oil supply? Check. Rising prices to breach orbit? Check. The Administration playing footsie with Venezuela and Iran? Check. Elections headed back this Fall? Yep.
Reese Energy Consulting today is following the latest news from the premier’s Tuesday visit in which he was purported to say, “Hi, my name is Canada. We just happen to have a bunch of oil and, by the way, we’re on your side.” Kenney made quite the pitch for his province, which is still smarting from the cancellation of the Keystone XL pipeline last year. The U.S. imports about 3.8 MMBPD of Canadian oil and could increase those volumes by 300 MBPD via pipeline, an extra 200 MBPD by rail, and with some domestic midstream modifications, an additional 400 MBPD of capacity. Add to this another 600 MBPD upon completion next year of the Trans Mountain pipeline.
Then, a decisive finish to Kenney’s offering: building a new major pipeline (don’t say Keystone) that would “forever allow the United States to free itself from imports from hostile regimes.”