Crude oil supply from the Western Canadian Sedimentary Basin (WCSB) continues to grow. At times, the regional crude surplus has exceeded outbound pipeline capacity. In today’s RBN blog, the third in a series, we’ll take a close look at periods of pipeline capacity surplus and scarcity, how these periods correlated with WCSB price discounts relative to U.S. price benchmarks, and examine seasonal price discount patterns.
The Crude Voyager is a weekly analysis of U.S. Gulf Coast loading activity that explains the ebbs and flows of crude loadings, destinations, and geopolitical issues impacting U.S. exports. It outlines the major paths for laden tankers hauling U.S. crude all over the world and reflects the change in tanker departures to the main regions that consume U.S. crude.
In Part 1 of this series, we discussed the drivers behind the near doubling of WCSB crude oil production from 2010 to 2025, as well as seasonal trends of WCSB production. In Part 2, we reviewed the major pipeline projects that expanded capacity to move barrels out of the WCSB, how the timing of those projects matched up with supply growth, and current export pipeline capacity.
We’ll start today by looking at WCSB crude supply relative to export pipeline capacity. In Figure 1 below, we show total combined nameplate capacity for the six pipeline systems that move barrels out of the WCSB (light-green layer), the total amount of available pipeline capacity (blue line), and estimated WCSB crude oil supply available for export (black line). Looking at the difference between the two lines over time, we can see that there was little to no spare pipeline capacity in 2018-19, and off and on between late 2020 and mid-2024.
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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
