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The Keystone XL pipeline under construction in North Dakota. Prime Minister Stephen Harper’s Conservative government and Alberta Premier Alison Redford have aggressively lobbied U.S. politicians ahead of the Obama administration’s decision, likely this summer, whether to approve the $5.3-billion TransCanada Corp. project.
The Keystone XL pipeline under construction in North Dakota. Prime Minister Stephen Harper’s Conservative government and Alberta Premier Alison Redford have aggressively lobbied U.S. politicians ahead of the Obama administration’s decision, likely this summer, whether to approve the $5.3-billion TransCanada Corp. project.
(Reuters)

The case for being bullish on heavy Canadian oil

Ask dealmakers or traders who cover Canadian energy about their outlook for the oil sands, and they all say that the dark shadow is receding. Since January, deal flow has been so muted that the biggest energy acquisition is Canada this year doesn’t even crack the billion dollar mark. Finally, however, there are glimmers of hope.