July 2 (Bloomberg) -- At the Bloomberg Link Canada Economic Summit on May 13, 2014, we discuss the challenges for Canada in its bid to diversify its energy supply and markets as U.S. oil production surges and the competition within North America intensify.
Canada currently ships more than 96% of its oil exports to the United States. A lack of pipelines to the nation’s coast and an existing U.S. oil export ban to countries other than Canada—with a few minor exemptions—also means crude production stays mostly continental, keeping prices depressed. We discuss the outlook for Canada’s oil sands and light oil producers and efforts to expand beyond America to the bigger and more lucrative markets in Asia.
Leo de Bever, CEO, Alberta Investment Management Corp. (AIMCo)
Peter Tertzakian, Chief Energy Economist and Managing Director, ARC Financial Corp.
Diane Brady, Senior Editor, Bloomberg Businessweek