Article content

OTTAWA — Canadian oil companies continue to face a near-record discount for their products, tingeing the political climate around the Trans Mountain pipeline just as the national energy regulator laid out plans to push ahead with the project.

The gap between Canadian and U.S. oil prices last week widened to as much as US$52 per barrel, with Canadian producers receiving just one third of the value for their crude compared to American producers. That price gap is the largest in more than five years, pummelling Canadian oil producers and shrinking government tax revenues.

We apologize, but this video has failed to load.

tap here to see other videos from our team. Try refreshing your browser, or As Canadian oil discount reaches record highs, national energy regulator sets out plan for Trans Mountain Back to video

Slumping Canadian oil prices come as the National Energy Board publicized its hearings schedule for the Trans Mountain pipeline on Friday.

The regulator released a list of 99 parties that will testify in public hearings for Trans Mountain, ranging from oil company representatives to First Nations chiefs to environmental activists. The hearings will be condensed, focusing exclusively on the environmental impacts of increased tanker traffic offshore B.C. and putting the regulator under a tight Feb. 22 deadline to release its final report.