"Canada Oil Output Will Double by 2030 If Pipelines Built"
To hear Canada's oil industry tell it, the U.S. State Department's draft environmental impact statement (EIS) on the proposed Keystone XL pipeline is exactly wrong. The EIS said Canada's tar sands oil would be shipped regardless of whether the pipeline is built. But the oil industry says it will double their output.
"Canada’s crude output will more than double to 6.7 million barrels a day by 2030, provided new pipelines such as Keystone XL are built to transport growing oil-sands production, an industry group representing the country’s petroleum producers said.
Crude from the oil sands, the largest component of Canadian output, will rise to 5.2 million barrels a day by 2030 from 1.8 million currently, the Canadian Association of Petroleum Producers said in its 2013 annual forecast. The group boosted its overall estimate for Canada by 500,000 barrels a day from a 2012 outlook.
'The biggest potential risk is not having enough transportation capacity in time to enable this forecast to go ahead,' Greg Stringham, CAPP’s vice president of markets and oil sands, said in a phone interview from Calgary."
SEE ALSO:Source: FuelFix, 06/07/2013