The pain of rock bottom oil prices has become so great that Saudi Arabia, Russia and other OPEC and non-OPEC producers, including potentially the United States and Canada, are considering a coordinated supply cut. Could an agreement be struck? Longer term, should oil producers continue to rely on the 60 year old cartel to prop up price? If a OPEC-Plus cut agreement is not made soon, will the United States slap tariffs on foreign oil imports to even the score? We also talk about the next chapter in the Keystone XL pipeline with news of the Alberta Government’s financial commitment to the project.
See ARC Commentaries related to this podcast, including “Colluding on Oil Production is a Game that Can’t Be Played Anymore” and “If the US Slapped Tariffs on Oil Imports Consumers and Refiners Would Feel the Sting.”
Learn more about a tanker that transported Alberta oil to Canada’s East coast during the 1970s Arab Oil Embargo, check out the full story and audio file for “Long Way Around” on the Energyphile website.
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