Categories: Alberta NewsBreaking NewsBusinessCanadian NewsPolitics

OPEC: Invest In Pipelines Or Lose Out To The States

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 EDA President, and a degree in Industrial Relations from Mcgill. Interested in the intersection of politics and culture. I firmly believe in a free media and work to get new stories to your screen each day.

Comments are closed.

Share
Published by
Ali Taghva
Tags: Canada

Recent Posts

  • Canadian News
  • Canadian Press
  • Culture
  • Saskatchewan News
  • Sports

Saskatchewan college honours memory of Humboldt Broncos coach who died in crash

Darcy Haugan wore jersey No. 22 when he was a star player with the Briercrest College Clippers in the late…

13 hours ago
  • American News
  • Canadian News
  • Canadian Press

Don’t sign USMCA until LGBTQ language excised, U.S. lawmakers urge Trump

A coalition of 40 members of the House of Representatives has written to the president to demand that the language…

13 hours ago
  • Canadian News
  • Opinion

Ad Standards Canada Censors Pro-Life Billboards in Contradictory Ruling

The contradictory nature of the rulings shows that it is not about the accuracy of the message, but about who…

14 hours ago
  • Business
  • Canadian Press

Canada Post asks for halt to international shipments as parcel backlog grows

Prime Minister Justin Trudeau warned last week his government will act to end the rotating strikes if there is no significant…

15 hours ago
  • Canadian Press
  • Ontario News

Backlog of illegal asylum claims has ballooned to over 28,000

New statistics from the Immigration and Refugee Board show over 5,000 new refugee claims were filed between July and September…

16 hours ago
  • Opinion
  • Politics

600% Increase in asylum claims from Americans since 2016

To date, more than 37,000 people have crossed the border illegally, been intercepted by the RCMP and brought in for…

17 hours ago