The gap of almost $30 a barrel that existed a few years ago - TopicsExpress

The gap of almost $30 a barrel that existed a few years ago between hugely underpriced North American oil and the global supply meant manufacturers urgently wanted the [Northern Gateway and Trans Mountain] pipelines as a way to get oil sands bitumen to Asian markets. Now, that gap has evaporated and doesnt look set to return. This was the big calculation a few years ago [that] we need to have these pipelines because there is this big gap and now were losing all these arbitrage benefits. [Now] its not quite as compelling, getting to the foreign markets...

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