TransCanada Corporation (USA) (TRP), Enbridge Inc (USA) (ENB): U.S. and Canada Energy Fate Lies in Each Other’s Hands

For oil to go from the U.S. to Canada, a ban on oil exports in 1979 means that any company that wishes to export oil to Canada must receive a special license to do so. Both Valero Energy Corporation (NYSE:VLO) and Royal Dutch Shell plc (ADR) (NYSE:RDS.A) have these permits to ship oil to is refineries in Canada, and Buckeye Partners, L.P. (NYSE:BPL) has just begun shipments of Bakken crude from its refinery in Albany, N.Y., to Irving Oil’s refinery in St. John’s, New Brunswick. These three companies have been the largest contributors to the spike in oil exports to Canada, but a more open export policy from the U.S. would make this exchange easier.

What a Fool believes

The U.S. and Canada’s energy profiles may be the Bizarro version of each other, but they represent an enormous opportunity for both countries to mutually benefit from each other’s strengths and weaknesses. With so much mutual gain at stake for both countries, it’s much easier to understand why we consider North American energy independence rather than the U.S. alone.

The article U.S. and Canada Energy Fate Lies in Each Other’s Hands originally appeared on Fool.com and is written by Tyler Crowe.

Fool contributor Tyler Crowe has no position in any stocks mentioned. You can follow him at Fool.com under the handle TMFDirtyBird, on Google +, or on Twitter, @TylerCroweFool.The Motley Fool has no position in any of the stocks mentioned, either.

Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.