RE:TMX saga a perfect example of Western Industrial Paralysis1962: JFK speech on quest to land on the moon
1969: Apollo 11 mission with 2 americans first ever landing on the moon
7 years from concept to result
2013: Application to expand TMX using existing rights of way
2024: pending, could delayed to 2025
11 years and counting using existing pipeline route
MigraineCall wrote: I find the following facts a real wake up call as to the real value of our existing industrial facilities in place, like those of the oil sands industry. In this kind of environment, there will be no more oilsands plants ever built again. The replacement cost of these assets in Canada is just too darned high. We have burdened and buried ourselves in such a deep regulatory quagmire, we are now globally uncompetitive to make anything new.
The first TMX:
1951: Corporation formed.
1952: Construction starts
1953: Oil flows through the 24", 1150km pipeline, Edmonton to Vancouver
Strange that there seems to be no data from that time for how many anthills may have been destroyed during construction.
2013: TMX expansion proposed along existing rights of way of existing pipeline
2013 - 2023 (mountains of BS proving far more difficult to overcome than the mountains of rock)
To date: TMX painfully slow, writhing in a regulatory bog, billlions over budget
Power of Siberia Pipeline: Russia - China
2014 Russia - China sign gas purchase deal
2015 Pipeline constriction starts (56" Diameter, 4000 km)
2019 Gas flows
Like in the TMX of the 50's, there also seems to be no official data for how many anthills may have been destroyed during construction.
Power of Siberia 2 Pipeline: Russia - China
2021 Feasability study started for the 56" Dia, 2800km gas pipeline
2024 Construction to start
Canada is blessed as one of the richest resource based countries in the world. So why are we in debt?
We used to be able to build things ourselves so that we could prosper and grow.
We will not grow anymore under this current system, but will only be barely able to keep existing infrastructure patched up.
In the future, our grown children saddled with our debt, while sitting on vast rich deposits of incredible oil resources will either say:
'Enough is enough!" and change the regime,
or, if things stay the same, they may be able to serve folks in the long queue of EVs:
"Would you like fries with that?"
Just think about what the costs would be to build a typical oil sands operation nowadays vs a few years ago. If oil becomes more valuable in the future as demand continues to rise by 1.5 to 2M bbls per year, Canada is not in a position to grow supply. We have the reserves, unlike peaking US shale. Where is all this new supply to come from to meet global demand? Sure there will be a few countries that will be able to produce more, but far more will produce less.
The oil market is so manipulated, now priced for perfection, without any risk premium attached for supply disruptions. Yet there are ships being blown up in the Red Sea, 2 wars, embargos, geopolitical conflicts scattered everywhere, splinter groups, and tensions are on razor thin edges.
Enjoy this moment of cheap oil while you still can, and being able to buy Canadian oil producers at such rock bottom prices.