Western Canada: TMX impact to send shockwaves across North American market

Infrastructure constraints abound plague Western Canadian producers and the light at the end of the pipeline buildout tunnel is still a few years away. Projects rushing to alleviate the bottlenecks face a litany of hurdles from legal, regulatory and commercial challenges. Perhaps the most impactful to the North American crude market at large is the Trans Mountain expansion. While some degree of clarity has emerged from the Canadian federal government purchasing of the project, uncertainties still remain. This report addresses in detail various pipeline scenarios and the impacts that will be felt not just on Western Canadian producers, but the entire North American crude market.