According to the Conservative Party of Canada, Canadian oilsands face a growing threat as Venezuelan oil re-enters global markets. Venezuelan heavy crude is similar to Canada’s oilsands, and many U.S. Gulf Coast refineries are built specifically to process heavy oil. These refineries can switch easily between Venezuelan and Canadian supply, which the party says could displace Canadian exports and put jobs and revenue at risk.
The Conservatives emphasize that Canada needs to diversify its oil customers beyond the United States. They argue that a pipeline to the Pacific Coast is the fastest way to reach Asian markets, where demand for heavy crude is strong. The party is calling on the federal government to approve the project quickly and allow private investors and tradespeople to construct the pipeline.
Without new markets, the party warns, Canada’s oilsands could lose significant market share and face economic consequences. The Conservatives frame the Pacific pipeline as both a practical solution to secure Canadian energy interests and a matter of national sovereignty.
While this represents the position of the opposition party, it highlights growing concerns about Canada’s dependence on U.S. refinery capacity and the urgency of finding alternative markets for Canadian oil.
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