The Canadian Energy Research Institute has released its most recent study which examines the potential complete or partial substitution of eastern Canadian crude oil imports via domestically-sourced oil. The research provides a cost and emissions comparison based on four potential scenarios of substituting domestic vs. foreign crude oil in the central and eastern Canadian refinery market.
Would displacement of foreign crude oil imports with Canadian crude result in reduction of global CO2 emissions and cost savings for refineries?
Canada is the 5th largest oil producer in the world, yet we continue to import oil.
Findings are presented using four potential scenarios which compare crude volume, cost and emissions to a base case scenario. All scenarios take into consideration a mix of assumptions regarding the availability of transportation capacity to eastern refineries and the decision-making model of each refinery, be it market or policy-based.