An energy analyst says the oil industry needs to do more in its battle to get more pipelines approved.
Markham Hislop, publisher of The American Energy News, says anti-pipeline advocates seem to be dominating the conversation over Energy East and other projects, but he says the need for more pipelines in Canada is real.
“Basically the pipelines are either full or soon going to be full, there is already a big differential between West Texas Intermediate and Western Canadian Select, so it is very expensive. There isn’t a lot of money to pay for transportation by rail down to the mid-west or to Texas refineries, so the industry desperately needs pipelines.”
Earlier Monday, an analyst at the C-I-B-C said the chances of the Energy East pipeline being built have slipped from 33% to 25 in light of last week’s resignations of three panelists at the National Energy Board reviewing the project.