Topic for comment -I recently received the following - not quite sure of the source - possibly a news paoer editorial - interesting reading.
< While we sell Canadian Western oil south of the border at $96/barrel - we are importing into Eastern Canada Arab crude at a Brent price of $118 a barrel - losing Canada $10 million a day in lost revenue/royalties and taxes.
Thats nearly 4 billion a year - or 10% of the Federal deficit >
The above are not my figures or quote - but sound essentially correct.
I also read somewhere else that Canada is the only large oil producer that produces well in excess of its own needs - yet is a major importer - making us vulnerable (in the east) to any world events/oil interuptions.
What is wrong with us. Why are we not building pipeline infrastructure to Ontario etc for both strategic as well as economic reasons.?
And while I'm venting - why the heck are we dragging our feet on LNG facilities that would remove us from the under p[riced straight jacket of a North America only market ?
There - I feel better now - any comments anyone?