Trudeau’s Trans Mountain Expansion Hasn’t Delivered Promised Benefits
It has been four months since the $34 billion expansion of Trans Mountain pipeline finally became operational, realizing the longstanding dream of getting Alberta bitumen to tidewater. This much-hyped milestone was supposed to be a gamechanger for the Alberta patch, ending the reliance on U.S. buyers by accessing new Asian markets with allegedly higher prices.
While it is still early days, the results so far have been a big fat bust. The price discount of Alberta’s Western Canada Select compared to West Texas Intermediate crude actually increased by $3.25 per barrel since TMX came online on May 1.