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Canadian crude oil exports transported by rail soared by 87 percent on the month in November as producers had little else to do given the now chronic shortage of pipeline capacity in the country. The daily average of Canadian crude shipped by rail stood at 173,000 bpd, CBC reported , which was lower than the average for November 2019 but considerably higher than the October average, which stood at 92,800 bpd. The increase was the result of higher oil production in Alberta despite the pandemic. Total Canadian oil imports in November hit 3.74 million bpd, up by close to 5 percent from October. Meanwhile, the newly elected U.S. president has got off to a strong start with his climate agenda, killing the Keystone XL pipeline project on the first day of his presidency. Keystone XL was one of just two pipeline projects that could relieve the pressure on local oil producers, so it was no wonder the Albertan Premier, Jason Kenney, lashed out at President Joe Biden, calling the Keystone XL executive order a gut punch. “This is a gut punch to the Alberta and Canadian economies,” Jason Kenney told a news conference last week. “It’s an insult.” Canceling […]
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