U.S. Energy Boom Hits Foreign Suppliers

Article Excerpt

BY CHIP CUMMINS
EDMONTON, Alberta—For the better part of a year, Canadian officials and executives watched from afar as a shale-oil boom exploded south of the border.
But it wasn’t until last fall that the full impact of the U.S. energy boom hit the provincial government here in the heart of Canada’s oil patch.
Around October, prices for Canadian bitumen—a heavy crude from the country’s vast oil sands developments—tanked, walloping the economy of America’s largest supplier of foreign oil, its biggest trading partner and one of its closest allies.
Amid a bottleneck of too few pipelines and too much new oil across the …
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