The world is becoming increasingly dependent on America’s three-year-old fracking boom that has lifted U.S. oil production by about three million barrels per day to the current total of more than eight million barrels.
Simultaneously, Canada has added another one million BPD almost exclusively from the tar sands of Alberta’s Athabasca region. Building the trans-Canada XL oil pipeline obviously would accelerate Canadian crude shipments to U.S. Gulf Coast refineries, building America’s daily crude oil availability to more than 10 million barrels per day, likely topping today’s leaders, Russia and Saudi Arabia.