RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:New to this stock
with all due respect, who cares who was against it.....when nobody can be found to finance/build it.
TC Energy quickly dropped the EE trial baloon as soon as the Mainline filled up again and became profitable again. Better to just keep making money operating a SEVENTY year old pipeline than spending YEARS on studies before an FID could be made....let alone find the money to build it.
And European refineries are not geared up to refine the heavy oil that AB produces....that's why WCS ends up on the Gulf Coast refineries (that were built to handle Mexican and Venezuelan heavy crudes).
Saudi oil is light sweet crude and costs 6 dollars a barrel to produce and put on a tanker that can go anywhere. The thought that you could take WCS that costs 30 dollars to produce, ship it 4000 miles though a pipeline and THEN put it on a boat....and still compete with Saudi oil to Europe is laughable. The Saudis would just lower the price long enough until the whole "Alberta oil to Europe" enterprise went bankrupt.
And if the goal is/was to replace the Saudi oil used by Canadian east coast refineries....they total only about 100,000 barrels a day....with AB producing a record setting number of 3.8 million barrels a day that Saudi oil is nothing more than a rounding error.
https://www.cbc.ca/news/canada/calgary/alberta-oil-production-1.7085565
Why anybody would build a 4000 mile pipeline to ship 100k barrels a day??? To lose money? NUTS!