Don’t expect any big changes when filling up at the pump following an Alberta decision to temporarily cut its oil production by 8.7% in January in an attempt to shore up prices.
The western province will mandate a temporary oil production cut of 325,000 barrels of oil per day,
Premier Rachel Notley says the move is being made to deal with a price crisis that she says is costing Canada an estimated $80-million a day.
Petroleum analyst Dan McTeague with GasBuddy.com tells Acadia News it was really the only option for Alberta’s oil industry.
McTeague says prices have crumbled to almost $10 a barrel and that’s impacting people coast-to-coast.
He says there may be a nominal hike at the pumps, but nothing drastic.
McTeague says the best solution to the price of gas would be a pipeline that would run from the west to the east.
