OPINION: Build Energy East to avoid Canada’s Keystone XL trap

February 28, 2017 – The Chronicle Herald

OPINION: Build Energy East to avoid Canada’s Keystone XL trap

By: Mike Priaro

Mexico currently produces about 2.2 million barrels per day (bbl/d) of crude oil.

About half is exported, but only 40 per cent of those exports, or about 0.44 million bbl/d, go to the U.S., according to U.S. energy consultancy RBN Energy.

Canada, on the other hand, produced an average of 3.847 million bbl/d in 2016.

About 80 per cent of that, or three million bbl/d, is exported.

Ninety-nine per cent of those exports go to the U.S., according to Canada’s National Energy Board.

Maya crude is Mexico’s benchmark heavy, sour crude.

It competes directly on the U.S. Gulf Coast, along with other sour, heavy crudes, such as those from Venezuela and Saudi Arabia, with Western Canada Select (WCS), the oilsands benchmark crude, as a key feedstock to many U.S. Gulf Coast refineries equipped to handle heavy, sour crudes.

According to RBN Energy, the share of Maya exports headed for the U.S. fell from 78 per cent in 2013 to only 44 per cent through the first nine months of 2016.

Read the full story here: http://thechronicleherald.ca/opinion/1445664-opinion-build-energy-east-to-avoid-canada%E2%80%99s-keystone-xl-trap