Curtailing Alberta Oil: The Right Solution to the Problem?
Earlier this month, the Alberta Government began an oil curtailment policy that could continue for the rest of 2019. The curtailment is a response to low oil prices and excessive supplies of oil in storage. The policy does not restrict export volumes or mandate any price floors; rather, it limits the amount of raw crude oil and bitumen that can be produced in Alberta, including from the oil sands by 8.7 percent (325,000 barrels/day). That means that Alberta has a production ceiling of about 3.411 million barrels of petroleum per day (“bpd”). No more and not likely any less. Alberta has promised to lift the curtailment by 2020, and will ease the production cap as oil storage levels make their way back to normal levels.
Documents & Downloads
Bound by common geopolitical interests and strong economic and cultural ties, Canada and the United States enjoy the world's most successful bilateral relationship. The Wilson Center's Canada Institute is the only public policy forum in the world dedicated to the full spectrum of Canada-U.S. issues. The Canada Institute is a global leader for policymakers, academics and business leaders to engage in non-partisan, informed dialogue about the current and future state of the relationship. Read more