Publications: Notes at the Margin

Doubling Down: Is It Game Over for Canada? (March 2, 2015)


The Canadian government under Prime Minister Stephen Harper has been seeking to make our northern neighbor an energy superpower. Among other things, Harper has pushed aggressively for constructing the Keystone XL pipeline, in many respects staking his political future on it. Having the pipeline, in his view, would help Canada push Middle Eastern oil out of the US. One of Harper's major mistakes in attempting to secure a major role for his country in world energy markets was picking a fight with the world’s low-cost producers of heavy sour crude, the very oil Canada would like to spread across the globe from Alberta. We discuss the details in this week's report, along with more analysis of the impacts of the continuing Cushing stock build and of using the BP Prudhoe Bay Royalty Trust as a measure of crude oil price expectations.


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