Lifting the American Oil Export Ban: What Would It Mean For Canada?
ESAI ENERGY IN THE NEWS:
Article Originally Appears in Alberta Oil 07.06.2015
While the ban-as-sanction rhetoric might make for a useful sound bite, the idea that there is a ravenous global demand for North American light oil is not entirely true, according to Sarah Emerson, president and director of petroleum research at the Massachusetts-based Energy Security Analysis. “Everyone I talk to in Asia says they don’t want light shale oil from the United States, they want heavy crude oil from Canada,” Emerson says. “When you go out and try to sell a shale barrel or flog it to the global market, there aren’t many refiners that want it. But you try and sell a Canadian barrel, and there’s two things going for it; for one, a lot of refiners are built to run something like a Canadian crude; and two, Canada is viewed as remarkably politically stable.”