Economy

Crisis for Canadian Oil

Canada’s oilsands are being walloped by a perfect storm of self-inflicted wounds but also a powerful smear campaign that conspire to prevent badly needed pipelines from being built.
Crisis for Canadian Oil
Suncor's base plant in Fort McMurray, Alta. in a file photo. Canada's oilsands industry has been suffering due to negative perceptions from marketing campaigns funded by certain U.S. progressive foundations. The Canadian Press/Jason Franson
Rahul Vaidyanath
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NEWS ANALYSIS

Canada’s oilsands are being walloped by a perfect storm of self-inflicted wounds but also a powerful smear campaign that conspires to prevent badly needed pipelines from being built.

Canadian oil prices have fallen over 50 percent this year, in stark contrast with the U.S. benchmark price, which is only 10 percent lower in 2018. Canada has an oil glut and nowhere to go with it—other than south of the border—due to the lack of pipelines.

Rahul Vaidyanath
Rahul Vaidyanath
Journalist
Rahul Vaidyanath is a journalist with The Epoch Times in Ottawa. His areas of expertise include the economy, financial markets, China, and national defence and security. He has worked for the Bank of Canada, Canada Mortgage and Housing Corp., and investment banks in Toronto, New York, and Los Angeles.
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