The Biden administration is considering new ways to increase its crude oil imports from Canada, with officials weighing everything from increasing rail exports to expanding pipeline capacity along existing routes.
So far, no clear-cut solutions have emerged. But the Wall Street Journal reported that one option does remain strictly off-limits: reconsidering revival of the Keystone XL pipeline, the project effectively shuttered by President Joe Biden on his first day in office.The news comes as the Biden administration has sought to shield consumers from the recent surge in U.S. gas prices, which soared last month to their highest point since 2008.
But without action to revive the Keystone XL, options to increase imports of Canadian crude remain limited.While Canada could ramp up its rail exports to the U.S. by an additional 200,000 barrels per day, analysts said that doing so would be an expensive option. And the increase would be minimal — amounting to just a tiny fraction of Canada’s exports to the U.S., which averaged roughly 4.3 million barrels per day last year.
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