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COULD CANADIAN OIL SANDS REPLACE VENEZUELAN IMPORTS IN THE US GULF OF MEXICO

Could Canadian Oil Sands Replace Venezuelan Imports in the US Gulf of Mexico

Study Released July 17, 2013

Commodity Report - Crude Oil - May 2013

Canadian oil sands could play an ever-increasing, long term role in supplying the US markets for many years to come (see Figure 1). However, the North American pipeline infrastructure needs to catch up with continuously changing supply, specifically, rising production from Canada, as well as expanding output from the Bakken and other formations in the US. Presently, Canadian and Bakken supplies are directed to the US Midwest market, a regional hub that is heavily saturated, creating wide differentials (see CERI Commodity Report – Crude Oil, November 2012) between Canadian heavy crudes and WTI..... Download full report.

May 2013