OilPrice.com: Disaster Hits Canada's Oil Sands
Kinder Morgan said it would halt nearly all work on a pipeline project that is crucial to the entire Canadian oil sands industry, representing a huge blow to Alberta’s efforts to move oil to market.
Kinder Morgan’s Trans Mountain Expansion is the largest, and one of the very few, pipeline projects that has a chance of reaching completion. Alberta’s oil sands producers have been desperate for new outlets to take their oil out of the country, and the decade-plus Keystone XL saga is the perfect illustration of the industry’s woes.
Keystone XL is still facing an uncertain future, and with several other major oil pipeline projects already shelved, there has been extra emphasis on the successful outcome of the Trans Mountain Expansion. That is exactly why Canada’s federal government, including Prime Minister Justin Trudeau, has gone to bat for the project.
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WNU Editor: The pipeline that the above author is talking about is not going to be built. This crushes any hopes that oil-rich Alberta may have had to increase the export of its oil products to Asian markets .... but it is a huge win for British Government's NDP-Socialist/Green coalition government who have opposed this project since day one. I have friends who work in Alberta's oil industry .... and to say that my friends are suffering is an understatement. And while the U.S. oil industry is booming the Canadian oil industry is in a massive slump .... and there are going to be consequences. The Alberta provincial government (also ruled by the NDP) have vested all of their political capital in this project, and while they have been projected to be voted out in the next election, this loss all but guarantees it. But the biggest loser from all of this will be the government of Justin Trudeau. As I explained to my good friends in the Liberal Party at a get together last week .... when they were elected in October 2015 the price for a liter of gas nationwide was less than a dollar, today it is $1.45, and with carbon tax prices already being prepared to kick-in before next year's election .... even higher. Good luck in hoping that you can get re-elected with that track-record.
4 comments:
Virtue signalling by the West gave rise to China and transferred trillions of dollars of wealth to them. Canada has been a front runner in signalling virtue.
I ask what if all the hullaballoo over fossil fuels is wrong and it has only negligible impact on the climate? As some researchers suggest, like this guy, Dr. Arthur Veterito?
http://notrickszone.com/2018/04/09/new-paper-seismic-changes-signal-95-probability-global-temps-will-hit-1990s-levels-by-2019/#sthash.7uHCsux6.dpbs
Alberta's free to export oil, that's what the existing Kinder Morgan pipeline pumps.
Unfortunatly, Kinder Morgan want's to twin the existing pipeline and pump dilbit.
Dilbit's extremely corrosive, highly explosive, very abrasive and nobody knows what will happen if there is a spill or how to clean it up. The Kalamazoo failure has still not been cleaned of even after dredging millions of tons of contaminated soil and gravel from the river banks and river bottom.
While the Kinder Morgan Pipeline project is estimated ( by Kinder Morgan) to create 15,000 temp jobs, it only creates up to 25 full time jobs.
Because the pipeline will no longer carry Southern Alberta Heavy Crude, 3 refineries in BC and one in Washington State will close, costing the local economies 1500 highly paid, full time jobs.
All of BC, will lose access to locally refined bunker fuel, lubricants, kerosene, gas and diesel. BC will have to import fuels by ship and rail from California, at an unknown premium. It's unclear how much that additional cost will impact the Port of Vancouver or YVR.
BC has been repeatably promised by the Federal Government and The Industry, a robust and World Class response to oil spills, and every two years, the Federal Government and The Industry proves they can't even manage minor spills.
Bottom line ... this is not about jobs .... it is about money.
Alberta's budget deficits will just keep on growing, monies that many groups in BC expected to get from this pipeline will not happen, and expect higher .... correction .... much higher gas prices in BC that will make by $1.32/liter fill-up yesterday in Montreal look super cheap.
BC wasnt going to get any real money out of this.
Kinder Morgan will do fine, they'll just sue the Canadian Government and Canadian Taxpayer's will pony up millions.
It's particularly funny that Alberta doesn't want to do any Value Added Refining to Tar Sands Products. I wonder why that is?
http://articles.chicagotribune.com/2013-10-29/news/ct-met-southside-petcoke-20131030_1_air-pollution-whiting-refinery-petcoke
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