The Globe and Mail reports in its Saturday, July 4, edition that Alberta plans a new pipeline to transport crude oil to the West Coast. The Globe's David Berman writes that the falling price of oil, however, poses a challenge for investors. The reopened Strait of Hormuz is skewering the geopolitical argument for betting on oil. The International Energy Agency predicts that global oil supply will exceed demand next year, leading to another potential oil glut as exports increase. West Texas Intermediate oil has slumped more than 30 per cent in just six weeks. Canadian energy stocks, which lagged behind crude oil prices as prices rose, are now faring better on the decline. However, they are still experiencing losses, with Canadian Natural Resources and Suncor Energy each down around 20 per cent since mid-May. In several ways, the stocks look attractive. Dividend yields have risen, with CNRL approaching 4.5 per cent, surpassing most bank yields, which may attract investors to hold out during the slump. Though well off their highs, CNRL and Suncor are up 22 per cent and 28 per cent since the start of the year. Athabasca Oil and Cenovus energy have done better advancing 47 per cent and 52 per cent.