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A section of the Keystone oil pipeline under construction in North Dakota.
A section of the Keystone oil pipeline under construction in North Dakota.
(Reuters)

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Reports of demise of U.S. oil imports may be greatly exaggerated

There has been some handwringing in Canada since a report last month suggested the U.S. could be “all but self-sufficient” for its energy needs by 2035. The implication: that a steady rise in U.S. energy production would mean our oil sands producers would need to find markets elsewhere. Now, another report paints a different picture, suggesting the U.S. will still have a healthy need for imported oil 25 years from now, thank you very much. It’s a reminder that predictions, and their underlying assumptions, say as much about the forecaster as the forecast.