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Page added on March 30, 2006

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Canadian oil may put Wyoming over a barrel

Although Wyoming continues to explore new pipeline projects to support the state’s booming oil and gas industry, competition from the abundant Canadian tar sands may continue to hold down the price of oil in the Rocky Mountains, the head of the Wyoming Pipeline Authority said.

Bryan Hassler, executive director of the agency, said that growing competition from Canadian oil – along with temporary reductions in refining operations and a shortage of pipeline capacity – were driving down the price of oil produced in Wyoming and other Rocky Mountain states. Earlier this month, oil extracted from Wyoming wells sold for 30 percent below the price fetched by South Texas wells. “As a region, producers, in aggregate, are losing $125 million per year,” Hassler said. “If nothing’s done, the problem will only get worse.”


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