OTTAWA — Canada lost out on about $25 billion in oil revenues last year due to pipeline and production bottlenecks and is expected to lose $15 billion a year going forward until it deals with its infrastructure deficit, a new CIBC report says.

CIBC economists Avery Shenfeld and Peter Buchanan said the record price discount received by Western producers of heavy oil — mostly bitumen — is no longer the issue it once was, but Canada will continue to lose big time until it permanently solves its pipeline deficit.

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