Now that TMX is in, there's less pressure on getting 'Berta bitumen to tidewater though...
Trans Mountain expansion has delivered so far on some profitable promises, report suggests
Narrower oil price spread increased revenues by estimated $7B US last year
A recently released
report compiled by a local economist suggests the oil sector is already seeing some of the promised benefits from the contentious Trans Mountain Pipeline expansion just six months after its completion.
Calgary-based Charles St-Arnaud, chief economist with Alberta Central, says expanding the pipeline has reduced the price differential between the Canadian price of oil — known as Western Canada Select (WCS) — and the U.S. benchmark price, West Texas Intermediate (WTI).
According to his report, that gap narrowed by about $8 US per barrel at the tail end of 2024. He says this is much lower than previous years, and that narrowing the spread is a good sign for Alberta's economy.