Canada – Alberta aims to double crude oil production, increase exports to the US

In the midst of trump stirring up the hornets nest about Canada becoming the 51st US state, oil-producing province Alberta, which currently exports more than 4.3 million barrels of oil per day to the U.S., i looking to ramp up output and exports.

The Alberta government is preparing to double the province’s oil output and increase crude exports to the United States.

To support this objective, Alberta has signed a letter of intent with Calgary-based Enbridge. This agreement establishes a collaboration between the Government of Alberta, Enbridge, and the Alberta Petroleum Marketing Commission. Together, they will form a working group to explore opportunities for expanding capacity within Enbridge’s 29,000-kilometre pipeline network.

The Premier of the province says:

• “The world needs more Alberta oil and gas,”
• “Our objective of doubling oil production aligns with Enbridge’s plans to enhance its existing pipeline systems. This partnership will support the United States’ energy security and affordability goals while maximizing the value of Alberta’s resources.”

This article was written by Eamonn Sheridan at www.forexlive.com.