On Friday on the show Commodities at 11:50, towards the end of the clip, Brett Harris spoke to Kent Moors, professor at Pittsburg University who is the Founder and Director of Energy Policy Research Group. http://watch.bnn.ca/commodities/marc...

The topic was on how Alberta needs to be doing more in terms of determining the price for heavy oil from the oil sands as it is the major producer at present. Brett Harris summarized Kent Moors interview as he stated that "Heavy oil obviously trades at a discount to sweet crude but as more heavy oil comes on to the market, producers will be able to set prices not take prices. If Alberta really develops out its assets it could face stiff competition from places like Tatterstan in Russia or [the] Orinocco in Venezuela."

Kent Moors then stated:"When they start bringing heavy oil on the market they can determine the heavy oil bench mark price. Alberta ought to be doing that, that's where most of it is located. Now this would allow Alberta to dictate the price. It would allow them to set up the exchange upon which the mechanisms are set up and if they wish denominate this in Canadian dollars not US dollars or any other currency."

This is vitally important as we go forward as Connacher and the other heavy oil producers in the oil sands in Alberta have discovered this winter with the sharply widening gap between the price they received for bitumen and the world price for oil. If Alberta does not step up and start dictating the bench mark price for its bitumen and set the appropriate mechanisms in place, Russia will or Venezuela will in the future and whoever asserts themselves will determine the currency that the bitumen is payed for in. This is vital to Alberta and Canada's national interest.

Best Wishes; Scott