Canada PM oil sands plan puzzles industry, greens

CALGARY, Alberta (Reuters) – A campaign promise to ban exports of tar-like bitumen from Alberta’s oil sands to countries that do not match Canadian efforts to cut greenhouse gas emissions could affect shipments to Asia, Prime Minister Stephen Harper said on Friday.

Enbridge Inc (ENB.TO: Quote, Profile, Research, Stock Buzz), which operates the main pipeline for Canadian oil exports to the United States, is proposing a new line to Canada’s west coast from Alberta to allow oil sands-derived crude to be shipped to Asia.

Harper announced the export-ban plan on Friday, ahead of the October 14 general election. Asked by reporters whether it could affect future exports of bitumen oil to Asia, he replied: “Well, it could, it absolutely could.”

He said the policy would not affect existing contracts, all of which involve supply agreements with U.S. refineries.

Reuters