Oil price imbalance an unpleasant surprise and lasting detriment to Alberta

EDMONTON – The huge differential between Alberta and U.S. crude oil prices that is creating a cash shortfall for the province came as a surprise to government officials and will not soon disappear, Energy Minister Ken Hughes said Wednesday.

“On the U.S. Gulf Coast, Mexican Mayan heavy crude, which is very similar to our bitumen (blend), is getting $94 a barrel today while ours is $48 a barrel,” he told the Journal in an interview. “We are giving a $30 billion benefit to the American economy because of this. Is that in our national interest?

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