Coverage Universe - Weekly Price Changes Apr 6 - Mar 13, 2018
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Oil prices, having doubled from the lows experienced over the past four years are welcomed positive news for the upstream petroleum sector. Gaining approvals for pipeline expansion to transport production has however never been a greater challenge.
Petroleum as an energy source might be on the wrong side of climate change but according to the US Energy Information Administration (EIA) demand for energy, including oil and natural gas, is still expected to grow and so is supply.
This recently updated information extending to 2050 is a reminder of where energy will come from for more than 3 decades into the future, and which of the energy sectors is expected to grow the most. Two of the three Canadian based mainline pipelines, for their larger expansion projects, have become entangled in the politics of pipeline approvals. Kinder Morgan's TransMountain Pipeline is becoming Ottawa's problem; the US portion of Enbridge's Line 3 has received a final approval of sorts. In addition to the data on oil supply and demand, the current status of these expansion projects and possible outcomes are considered.
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