No More Waiting on the United States, Canada Will Move Oil to Asia
Canadian Finance Minister Joe Oliver blasted the U.S. administration over how slowly it's been moving on the TransCanada's Keystone XL pipeline, and it's no wonder -- the Canadian economy is heavily dependent on natural resources, and the Keystone XL pipeline would offer it more opportunity to sell Alberta crude abroad. The Obama administration, for its part, says that it still needs more time to evaluate the environmental impact of the project. While the United States drags its feet, Canada is looking elsewhere to ship its crude and a decision could be made shortly on Enbridge's proposed Northern Gateway pipeline.
In the following video, Motley Fool energy analysts Taylor Muckerman and Joel South discuss what these pipelines would mean for Canadian oil players and what their outlook is in the future.
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The article No More Waiting on the United States, Canada Will Move Oil to Asia originally appeared on Fool.com.Joel South has no position in any stocks mentioned. Taylor Muckerman has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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