RE:PackerNoble! when did I ever attacked the oil sands? (made a lot of money with them over the years)
What I do react to is the notion that electric cars are a communist plot....that Trudeau is singlehandly "killing" the oil industry when it has done nothing but expand over the last 9 years???
What do you care if people in Quebec are "obstructionists"....they don't matter....AB oil already goes east via the American midwest (Enbridge's Mainline). Why would anybody think that building a pipeline 8000 kilometers across Canada to the east coast for export on tankers makes any economic sense....when full tankers are already there. This week the WCS discount to WTI is over 13 bucks a barrel....now add the tolls required to ship that oil 8000 kilometers to an east coast port...What's that 20 bucks, 30 bucks a barrel???? by the time you got WCS to the east coast your break even price would be higher than oil (of a higher quality BTW) is already there available in the open market...let alone eek out a profit.....NOBODY would buy it OR you'd be selling it at a loss. It's THAT simple.
If I seem to "attack" Alberta it's only because as an oil investor I am continiously amazed at Albertans that don't seem to understand/admit how the oil market works and WASTE precious time and energy barking up the wrong trees.
Saudi Arabia pumps oil out of the ground, pumps it through pipelines a few hundred miles to load it onto ships. They don't pump it thoushands of kilometers across the continent of Africa to load it onto ships on the other side...."just because" (???)
North sea oil gets loaded right onto ships...no pipeline....The Permian is a few hundred miles from Gulf Ports....the latest hot play, Guyana, is offshore and can load directly onto ships.....
Yet the guys in cowboy hats in Western Canada DEMAND that an 8000 kilometer pipelline be built to ship their oil east to be loaded onto ships...and because this has not come to pass, one way or another, keep slagging EVERYHTING in this country they are supposed to be a part of. That irritates me. 'nuff said.