Source: Josh Dehaas, Janet Dirks, CTV News, December 3, 2018
Alberta Premier Rachel Notley says that cutting provincial oil production will help to temporarily address the province’s economic crisis, but she also needs Prime Minister Justin Trudeau’s government to “step up.”
Notley made the comments Monday after announcing the province will cut output of oil for the first time since 1980, by about 325,000 barrels per day. The goal is to push up the price of Alberta crude, which is trading at such a low price that it’s costing the province $80 million daily.
In an interview with CTV News Chief Anchor and Senior Editor Lisa LaFlamme, Notley said that she believes the cuts are necessary because there are currently 35 million barrels of oil sitting in storage, and there is not enough pipeline capacity to transport it to markets where it can fetch a profitable price.
Image Source: THE CANADIAN PRESS/Jason Franson
