A liquified natural gas (LNG) tanker sit

The US could run afoul of the WTO if LNG export approvals are not more quickly granted. “In a report commissioned by the National Association of Manufacturers, he [James Bacchus] wrote, ‘The tables may be turned on the United States directly in the WTO, but also through other countries walking away from core principles that have long been critical to U.S. success in the global economy.’” [The Hill]

Everyone is watching the Brent-WTI spread and trying to figure out if it will blow out again or return to a more historically normal range. New pipelines and pipeline reversals have alleviated the glut of crude that built up in Cushing in recent years, but now a glut is building on the Gulf Coast. Bank of America sees the spread widening again later this year. [Bloomberg] While there is also a case being made for a narrowing of the spread. [EMI]

Major infrastructure projects in Canada often require buy-in from First Nations groups who hold many rights to their traditional lands. The British Columbia government moved LNG export plans forward with this most recent signing. “The agreements are with the Lax Kw’alams and Metlakatla in relation to their traditional territory on the Grassy Point lands on B.C.’s northern coast. The lands have been identified as the potential site for new liquefied-natural-gas export facilities.” [Calgary Herald]