Venezuelan oil and Alberta's tarsands: could imports affect market share?

Alberta Premier Danielle Smith urged Prime Minister Mark Carney to speed approval of a proposed pipeline, warning that Venezuelan oil could take market share; the columnist notes Venezuela's production and infrastructure problems make large-scale competition unlikely.

Alberta Premier Danielle Smith wrote to Prime Minister Mark Carney urging faster federal approval of a proposed pipeline from Alberta to B.C.'s northwest coast. She framed the request around concerns that Venezuelan oil could take market share from Alberta producers. The columnist argues Venezuelan output and industry decay make large-scale competition unlikely. The article also notes differing timelines: Smith wants approval in months while Carney has suggested a longer timeframe. Key reported points: - Premier Danielle Smith urged rapid pipeline approval, saying delays risk ceding market share and investment. - The article reports that Venezuelan crude is heavy bitumen similar to Alberta's and currently ships largely to China. - Darren Woods of ExxonMobil is quoted calling Venezuela's oil "uninvestable," and the piece describes rusted pipelines and reduced exports from about 3 million to 1 million barrels per day. - The columnist says U.S. oil majors doubt quick restoration of Venezuelan production and that rebuilding would take years and large investment. - A Pollara Strategic Insights poll cited in the article found about 20 per cent support in Alberta for separation, and the article notes Smith plans a referendum this year. Summary: The article frames an argument that fear of Venezuelan oil is being used to press for faster pipeline approval, while reporting that Venezuela's production and infrastructure problems limit near-term competition. Undetermined at this time.