U.S. oil exports spike – and most of it comes to Canada | Globalnews.ca

Oil exports in the United States have hit a 15-year high, and most of that is getting shipped to Canada, according to data from the U.S. Energy Information Administration.

The increase in exports, which have more than doubled in the last year, comes thanks to the booming, oil-rich Bakken in the U.S. Midwest.

But it may seem counter-intuitive that Canada, which produces 3.5 million barrels of oil a day, is bringing so much of it in. Surely there’s enough domestic extraction to serve all Canadians’ needs?

This is why many oil industry advocates argue Canada needs to refine its own crude domestically so it can use it at home. It’s an argument in favour of  something like the Energy East pipeline, which would ship Alberta oil to a refinery in Saint John, N.B.

via U.S. oil exports spike – and most of it comes to Canada | Globalnews.ca.