Canadian oil producers are keeping a close eye on the latest events in Venezuela and the opportunity to boost their exports south of the border if things in the troubled South American country continue to deteriorate, pressing its already falling oil production even lower. In a recent analysis of the topic, CBC News’ Tony Seskus notes that Canada and Venezuela are the two primary sources of heavy crude for Gulf Coast refiners, so of Venezuela’s production continues down in case of further instability, Canadian producers stand to benefit. However, Seskus adds, these benefits will be limited. The primary reason for the limitations is, of course, pipeline capacity. Canada’s oil producers are moving growing amounts of crude to the Gulf Coast by rail even if it is costlier, because there are simply not enough pipelines to use. On the plus side, the price of the local crude has been growing […]