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Canadian Investing / Canada (General)
|Subject: Re: PWE slump||Date: 11/19/2012 7:19 AM|
|Author: tim443||Number: 63070 of 64026|
Another problem for all of our western crud producers is the discount on WCS (Western Canada Select) due to the glut in Cushing? We really need to find an non-US outlet for our oil or continue to suffer the lower prices.
Says it far better than I could. Until we find a way to get Alberta oil to international markets in a big way we will be held hostage to a US market currently awash in oil.
Heavy Canadian Crude Tumbles to 8-Month Low on Cramped Pipelines
By Edward Welsch - Nov 16, 2012 5:03 PM AT
Heavy Canadian crude oil fell to the lowest level in eight months as producers faced space limitations on pipelines transporting oil to U.S. markets.
Western Canada Select, a heavy oil blend from Alberta, tumbled to $34 below the U.S. benchmark, its widest discount since March 14.
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