OPEC: Invest In Pipelines Or Lose Out To The States

The president of OPEC has urged Canada to build pipelines.


Speaking at the TD investor conference in Calgary, the President of OPEC firmly stated Canada’s need to invest into oil pipelines which could transfer Canadian crude and natural gas, or else see investment leave Canada and head for the United States.

“If you don’t have the major infrastructure, investors are going to go to your neighbor, where infrastructure is not an issue,” said Organization of the Petroleum Exporting Countries President Suhail al-Mazrouei. “Act and act quickly if you want to retain those investors. I am being frank because I want to be a true friend to the Canadians.”

I don’t want them to lose opportunities.”

Background: Insufficient space in the country’s oil pipelines has deepened the discount Canada’s heavy crude can attract from U.S. refiners, compared with U.S. light oil futures.

Ali Taghva

Business owner, former riding President, and Bachelors in Industrial Relations from Mcgill. Interested in the intersection of politics and culture. I firmly believe in a free media and work to push new stories to your door each day.

Choose A Format
Formatted Text with Embeds and Visuals
Youtube, Vimeo or Vine Embeds