Ewart: Oilsands success, pipeline failures prove costly

The Alberta government is paying the price for the success of efforts to develop the oilsands and the failure to develop pipelines to get that oil to market.

The price – as measured by what is known as the differential, or discount, from global benchmark crudes – is currently about $29 on each of the 2.5 million barrels of oil pumped every day in Canada’s biggest oil-producing province. That works out to $72.5 million a day. Over a year, that’s $26.5 billion of potential revenue not circulating in the provincial economy.

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