Environmental Engineering Reference
In-Depth Information
Panel also supported this change in its report. The federal government of Canada, however,
provided some balance by reducing the general federal corporate income tax rate from 22.1%
to 15% beginning in 2012.[59]
U.S. Markets
Oil sand producers continue to look to the United States for the majority of their exports.
Seventy-five percent of Canadian nonconventional oil exported to the United States is
delivered to the Petroleum Administration for Defense District (PADD)[60] II in the
Midwest. This region is well positioned to receive larger volumes of nonconventional oil
from Canada because of its refinery capabilities. Several U.S.- based refinery expansions
have been announced that would come online between 2007-2015. If Canada were to reach its
optimistic forecasted oil sands output level of 5 mbd in 2030, and maintained its export level
to the United States at around 90%, it would be exporting about 4.5 mbd to the United States.
This would mean that imports from Canada would reach nearly 30% of all U.S. crude oil
imports. U.S. refinery capacity is forecast to increase from 16.9 mbd in 2004 to nearly 19.3
mbd in 2030,[61] a 2.4 mbd increase — significant but perhaps not enough to accommodate
larger volumes of oil from Canada, even if refinery expansions would have the technology to
process heavier oil blends. Canada is pursuing additional refinery capacity for its heavier oil.
Pipelines
Oil sands are currently moved by two major pipelines (the Athabasca and the Corridor,
not shown in figure 7) as diluted bitumen to processing facilities in Edmonton. After reaching
Source
: Canada's Oil Sands, Opportunities and Challenges to 2015: An Update, June 2006.
Figure 7. Major Canadian and U.S. (Lower 48) Crude Oil Pipelines and Markets.
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