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Keystone XL: The Journey of a Pipeline
Keystone XL: The Journey of a Pipeline
(Nathan VanderKlippe/The Globe and Mail)

DAVID PARKINSON

Blame speculators for volatile Canadian oil price discount

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We’ve been told by experts (including the Bank of Canada) that transportation bottlenecks in Canada’s oil industry are the root cause of the cheapness and volatility that plague prices for Canadian crude. But recent trading suggests that a considerable dose of opportunistic speculation may have now taken over where the market’s well-documented pipeline shortcomings have left off.