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Honored Advisor

it could have came here

http://www.foxnews.com/world/2014/06/17/canada-approves-oil-pipeline-to-pacific-coast/?intcmp=latest...

 

Maybe they can also hook North Dakota and Montana to tt too.  We are so screwed.

 

Looks like in a few years we will each need to plant a field of sunflowers and squeeze the oil out of them just to run our farm equipment.

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12 Replies
Highlighted
Advisor

Re: it could have came here

At some point national security will be threatened due to lack of fuel. Makes you wonder which side our president is on
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Highlighted
Honored Advisor

Re: it could have came here

We are their golden goose.  They will squeeze all the golden eggs out of us they can and condemn us for dying in their hands.

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Highlighted
Veteran Contributor

Re: it could have came here

Canada is already the largest foreign supplier of oil to the U.S Unfortunatly it appears a new pipeline to there is unlikely to happen. With increasing production here we need to find a buyer and for now that buyer appears to be China. Kind of ironic that tankers will be hauling Saudi oil to the United States and tankers will be hauling Canadian oil to communist China. Strange world we live in.
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Highlighted
Advisor

Re: it could have came here

Nab Cant the US rail it in or would it be too costly. Why doesn't Canada just sit on the reserves for awile.
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Senior Advisor

Re: it could have came here

The assumptions about this oil is too simplistic. Why is the Keystone pipeline ending in Texas? Because it can deal with heavy crude (like Venezuela's) and because it's on the coast to be easily exported after being refined. We export refined oil products from Texas. There was never any assurance the refined product was staying in the US. It is a global market with sales to the highest bidder. And a Canadian pipeline to the pacific will encounter opposition in the Canadian West. It will be a long slog I'll bet.

 

The global aspect also means China will buy and invest in energy anywhere on the globe. As do we. Therefore the availability of crude depends on total global use. Buyers, including the US, can't lock up oil products for their exclusive use. That's why the 'Drill, baby, drill' never made much sense for crude in terms of a lower price here and higher prices somewhere else. By the way, that's not true for NG where there are restrictions on export - which complicate the idea of relieving Ukraine and the rest of Europe from Russia's thumb. However, as a supplier Russia is turning to China as plan 'B'as they fear further sanctions and alternative sources for Europe.

 

There will be equilibrium as long as policy makers and politicians aren't out there stirring the pot - which they are - and consumers educate themselves outside the narrow political gamesmanship.

 

We have a new unit train facility in my area that isn't running any grain. Why? Because the railroads are too busy running strings of petroleum tank cars to deliver grain cars for a reasonable price. We have a plan 'B' using barging down the Snake/Columbia.

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Veteran Contributor

Re: it could have came here

425cat. The potential for Canadian oil production is likely in excess of what rail on either side of the border is capable of. That said however I do think ultimately there will be a pipeline to the west coast built. The only real opposition to the pipeline is the province of British Columbia but its a power play on their part to extract revenue. We also have the option to go further north and build it through the Northwest Territories and Yukon which would open that area for development; the other option is rail and CN believes they can make it work. As for sitting on it, the short and sweet of it is they believe we have enough to power north america for two hundred years so we may as well keep the economy humming. My area of Alberta currently has an unemployment rate around 2.3 percent and those are people who really don't want to.
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Honored Advisor

Re: it could have came here

Why aren't we sitting on the Balkan? After all we are only hauling out the crude and totally wasting the natural gas by just burning it off into the air. Totally wasting energy for a fast buck.

So what if it gets exported out of Texas? Look at all the jobs it would create. Got to have something for all those Mexicans to do.

Economic benefit opportunities squandered.
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Senior Advisor

Re: it could have came here

I think they are slowly laying pipe for NG in the Bakken but it's a matter of investment. NG is cheap. Best thing we could do is start exporting gas to Europe and Ukraine to encourage investment. It's relatively clean energy. But it takes time to build receiving facilities and Congress doesn't have enough balls to hear that we are 'exporting' because they have convinced people that is 'BAD.'

 

 

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Highlighted
Honored Advisor

Re: it could have came here

The point is a very important resource is being squandered

Will be valuable in the future.. it is a finite resource , it is nothing short of criminal to just flare it off.
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