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No quick fix for Alberta crude oil problems

Nov 23, 2018 | 5:55 AM

CALGARY – Some oilpatch bosses says there is not much Ottawa can do to help ease the punishing oil price discount on Alberta crude.

Prime Minister Justin Trudeau met with oil and gas company executives in Calgary on Thursday.

Steve Laut with Canadian Natural Resources says the idea of moving oil in rail cars came up during the meeting.

Premier Rachel Notley has urged the federal government to invest in crude-by-rail to move oil to market until new pipelines are built.

But Laut says there’s not much the federal government can do that companies like his can’t.

He says it takes time to build rail cars and train employees, so rail is no quick fix.

Alex Pourbaix with Cenovus Energy says Trudeau seemed receptive and he understands how serious the situation is.

Notley has said Canada is losing 80 million dollars per day because of the price gap between Alberta and U-S oil.

The main reason is there aren’t enough pipelines to help bring Alberta oil to international markets.

(The Canadian Press)