With another 180 Mb/d of pipeline capacity out of the Western Canadian Sedimentary Basin (WCSB) expected online by late next year, and potentially another 1.7 MMb/d of capacity being proposed over the next several years (excluding a new pipeline to the West Coast of Canada), WCSB producers are looking to grow their crude oil production. With no shortage of resources to develop in the oil sands, in today’s RBN blog, we look at all the Alberta oil sands growth projects currently proposed over the next several years.
In Part 1 of this series, we discussed the drivers behind WCSB crude oil production nearly doubling from 2010 to 2025, as well as its seasonal trends. In Part 2, we reviewed the major pipeline projects that expanded capacity to move barrels out of the WCSB up to this point, how the timing of those projects matched up with supply growth, and current export pipeline capacity. In Part 3, we examined how WCSB crude oil price discounts are impacted by pipeline scarcity and production seasonality. In Part 4, we looked at where WCSB crude oil goes, how it gets there, and how its end markets have evolved over time. Finally, in Part 5 ,we reviewed all the projects in the works to expand crude oil pipeline capacity out of the WCSB.
Figure 1. Alberta Oil Sands Projects, Athabasca and Cold Lake Regions. Source: Novi Labs
The Vanishing Spread — Houston vs. Midland Crude Oil Price Differential
The Midland-to-Houston crude oil differential has undergone a dramatic round trip over the past several months.
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About the song
“Turn Me Loose” was written by Paul Dean and Mike Reno and appears as the second song on side one of Loverboy’s eponymous debut studio album. The song is built around a bass riff and features crunchy guitar by Paul Dean and the plaintive vocals of Mike Reno. Released as the first single from the album in February 1981, it went to #6 on the Billboard Pop Rock Tracks chart and #35 on the Billboard Hot 100 Singles. Personnel on the record were: Mike Reno (lead vocals), Paul Dean (guitars, backing vocals), Scott Smith (bass), Doug Johnson (keyboards), Matt Frenette (drums), and Nancy Nash and Katie Kissoon (backing vocals).
The album, Loverboy, was recorded in 1979-80 at Little Mountain Sound in Vancouver and produced by Bruce Fairbairn. Released in the U.S. in November 1980, it went to #13 on the Billboard 200 Albums chart and has been certified 2X Platinum by the Recording Industry Association of America. Three singles were released from the LP.
Loverboy is a Canadian hard rock band formed in Calgary, AB, in 1979. After opening shows for major rock acts in Canada, the group was signed to a record deal with Columbia Records Canada in 1979 and released their debut album, Loverboy, in the U.S. in November 1980. They have released nine studio albums, four live albums, 16 compilation albums, and 29 singles and have sold more than 15 million records worldwide. Seven members have passed through the band since its formation. Bassist Scott Smith was presumed dead after a large wave swept him off his boat near San Francisco in November 2000 at 45. (His body has never been recovered.) Bassist Jim Clench died in November 2010 in Montreal at 61. After a hiatus from 1989 to 1991, Loverboy continues to tour and will be appearing at various venues in the U.S. beginning in June.
"About the Song" -- written by Mickey McMahan , RBN Director of Musicology
