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Alberta oil can be a solution to U.S. energy supply crunch - minister

Published 03/06/2022, 09:11 PM
Updated 03/06/2022, 09:30 PM
© Reuters. Hon. Sonya Savage, Minister of Energy, Government of Alberta, speaks at the expansion of the Canadian government-owned Trans Mountain oil pipeline advanced to a new construction stage, in Acheson, Alberta, Canada December 3, 2019. REUTERS/Candace Elliott/

By Arathy Somasekhar

HOUSTON (Reuters) - Alberta, Canada's main oil-producing region, can help alleviate the global oil supply crunch caused by energy disruptions, Alberta energy minister, Sonya Savage, said on Sunday.

Alberta has some spare pipeline and rail capacity and can move more oil to the United States, Savage said in Houston ahead of the CERAWeek energy conference by S&P Global (NYSE:SPGI). Oil prices in Monday trading in Asia have soared to $128 per barrel, up from about $83 per barrel in January.

"We are the solution, not Venezuela and others," Savage told Reuters, an apparent reference to U.S. sending a delegation to Caracas last week to discuss an easing of U.S. oil sanctions.

She also said it was "unconscionable" for any nation to be buying Russian crude oil or refined products in light of its invasion of Ukraine.

Oil buyers have been shunning oil cargoes from Russia, one of the world's largest petroleum exporters. Russia exports 4-5 million barrels per day (bpd) of oil and 2-3 million bpd of refined products.

Savage said the United States should ban imports of Russian crude oil and refined products.

Canada last week banned Russian crude oil imports and agreed to supply anti-tank weapons to Ukraine to counter the Russian invasion.

Russia calls its actions in Ukraine a "special operation".

Latest comments

you guys are the problem, not the salution!
Bring back the shale oil
We dont have an eneryy crunch, a year ago we were oil independent, this is a biden problem
That is false. I am a commodity trader and I am so ticked with this continued false narrative. We have not been energy independent since the 60's. Since then even our best years we have not been much above 50% of what we consume. That is a FACT. The current situation is 2 fold. 1) US Oil producers refuse to bring more oil online in order to keep prices higher and return more money to execs and shareholders. 2) OPEC operates as a monopoly refusing to bring sufficient oil online in order to rake in higher profits. Lastly, if you gripe about the pipeline being scrapped, even if had not been scrapped it would NOT be online as construction would not be completed by now. So go to the source for your information and stop listening to propaganda. As Simon and Garfunkel wrote, "People hear what they WANT to hear and disregard the rest."
Seriously?  We were energy independent until Brandon was elected.  Its really not that difficult to solve the  problem
This is just common sense to buy oil from Canada! It’s next-door and therefore environmentally friendly to ship to America, rather than Russian oil, which supports the killing of civilians!! Buying Russian oil is blood on OUR hands!
What about Russian uranium? 20% of US electricity comes from imported and then processed Russian (and it's allies) uranium.
No thanks Canada. We will get our oil from Iran or venuzuela because we want to keep everything green over here.
That had me…..rofl
This administration is making too much money to let that happen! This was the plan from the middle of Trumps presidency. Throw out the trump administration at all costs and get back their lobbyists oil tycoons. Now this administration is going to take back everything the government put in to the economy and money lost during the past presidency!
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