Samer Salameh, Executive Chairman of Pacific Future Energy.
Canada has a problem. We are blessed with a resource — oil — needed by people around the world. However, we are selling 97 per cent of our oil exports to one customer — the United States — and we are selling those exports at a significant discount. We do this because it’s what the pipeline infrastructure in North America obliges us to do. Refineries in the U.S. Midwest are currently making an average of $25 a barrel profit refining Canadian product.
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