Canada's energy crisis: BNN Bloomberg's 2018 Story of the Year [Business News Network (BNN) Energy & Resources (Canada)]
Bank Nova Scotia Halifax Pfd 3 Ordinary Shares (BNS)
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Source: Business News Network
Canada's energy crisis: BNN Bloomberg's 2018 Story of the Year The energy crisis gripping not only Alberta, but the entire country, has sparked questions about the future of Canada's energy sector - and that is BNN Bloomberg's Story of the Year for 2018. Here on BNN Bloomberg, we've been talking about these questions almost every day for more than a year. In 2018, the energy sector has been rocked by takeaway capacity constraints - in other words, a lack of pipelines - that have been driving up the discount on Canadian crude and squeezing the industry's margins. There was a sense of optimism following the federal government's approval of the Trans Mountain pipeline expansion project in November 2017, but this year the project fell apart and sent Albertans to new lows. The Federal Court of Appeal overturned the approval of the project this past summer, while larger-than-normal outages downstream due to refinery maintanence sent the differential on Western Canadian Select (WCS) soaring.
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