Keystone XL Pipeline

Texas Oil Impacting the Oil Sands

The recent discovery of another source of oil in Texas has sparked the conversation about the increased need for pipelines in Canada. The new Texas formation, known as the Wolfcamp formation, contains an estimated 20 billion barrels of oil, 16 trillion cubic feet of natural gas, and 1.6 billion barrels of natural gas liquids. While this is not expected to have a huge effect on oil prices, it is still noteworthy for the Albertan and Canadian government.