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Canada’s Oil Can’t Solve Russian Supply Squeeze, Minister Says

  • ‘Our export capacity is pretty much maxed out’: Guilbeault
  • World’s fourth-largest producer lacks pipelines to coast
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Canada can’t ramp up oil shipments quickly enough to bring down crude prices that have soared since Russia’s invasion of Ukraine, the country’s environment minister said.

“Let’s be reasonable, we can’t help Europe with oil,” Steven Guilbeault said in an interview with Bloomberg News. “Our export capacity is pretty much maxed out. We’re building a pipeline. It’s just going in the wrong direction and the idea that we somehow could start to build a bunch of new infrastructure in Canada and it would magically happen -- either for gas or for oil -- is not very serious.”