Latest News

Canada talks Keystone XL revival to Trump Administration officials

Canada's Natural Resource Minister Tim Hodgson revealed Tuesday that Canadian officials met with Trump administration representatives in Houston to discuss a?"proposed revival" of a canceled Keystone XL pipeline.

Hodgson and Canada's ambassador to the 'U.S.', Mark Wiseman discussed the project proposed by Canadian Pipeline Company South Bow and their U.S. Partner Bridger Pipeline, which could increase Canada’s crude exports into the U.S.

Hodgson, in an interview given at the CERAWeek conference by S&P Global, said that Canada is framing the prospect for a new oil pipeline across the border as a means to help the U.S. maintain energy security despite the fact that the war in Iran has disrupted supplies and raised prices for consumers.

"Yes, (the ?U.S.) They produce 12-13 million barrels of oil per day. "But they consume 20",?Hodgson stated. They know that Canada makes up about 63%.

Donald Trump's tariffs wars and threats of annexation have caused tensions with Canada. Trump has repeatedly called for lower prices of oil, and many U.S. refining companies depend on the approximately 4.4 million barrels per day of Canadian exports sent south of the border.

Hodgson refused to confirm whether or not the Trump administration had indicated that it would support the South Bow/Bridger Project, or make any attempts to speed up the U.S. regulatory clearances required.

Hodgson said, "I'd say that they (Wright & Burgum) are thoughtfully examining all the options in order to ensure the world has enough oil for it to function."

The White House didn't immediately respond to an inquiry for comment.

Hodgson also said that he made it clear at the meeting,?that Canada aggressively works to expand its oil sales to non-U.S. market by completing a planned expansion of the Trans Mountain Pipeline which runs from Alberta up to the Pacific Coast.

Mark Carney, the Prime Minister of Canada, has been traveling around the world to court new customers for Canadian energy. This is an attempt to reduce the country's dependence on the U.S.

We need to sell more to other people, not less, as Prime Minister Harper has stated. Hodgson stated that we need to sell to more people. (Reporting and editing by Ni Williams in Houston, Amanda Stephenson from Houston)

(source: Reuters)