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Why the U.S. energy boom isn’t hurting Canada’s oil patch

The outlook for the Canada’s oil patch remains promising, even as the impressive boom in U.S. oil production continues and the price of oil appears headed on a wild, whiplash-inducing ride over the next 20 years.

This week’s chart compares U.S. imports of Canadian and Middle East crude with the significant gains in U.S. oil production. So far, the amazing resurgence in U.S. crude production – a 60 per cent increase since 2007 – has come at the expense of OPEC nations and left Canada largely unaffected.