Oils of war: Decoding the impact of the Trans Mountain pipeline expansion

News Snapshot:

U.S. President Donald Trump’s trade war has kicked up a long-overdue debate in Canada about the need to diversify its exports, and oil is emerging as a prime example of how infrastructure can make that happen. In May 2024, the Trans Mountain pipeline expansion finally began operations after years of delays, cost overruns and a takeover by the federal government. Almost immediately, the pipeline—which has the capacity to move 850,000 barrels a day to the West Coast—began to shift Canada’s energy export picture. As of March, Canada’s bitumen crude exports to non-U.S. markets climbed to roughly 7%, after being stuck...