Quote:
Originally Posted by rubecube
Okay but is it not private industries that are importing oil from these countries because it's cheaper to do so? How is that on environmentalists and not just a function of capitalism? How exactly are you going to prevent this practice without implementing some pretty severe protectionist policies or nationalizing the energy industry?
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The thing is, TransCanada (a private company) believes that EE can be beneficial. You're right, in that if TransCanada is completely wrong, then they'll have spent 15 billion dollars on an empty tube in the ground and probably take a massive hit to their value.
The point is, why would you care? No taxpayer dollars are being spent to build this tube. If TransCanada is completely and utterly wrong, and no oil producers or refineries want to use their pipeline, it's 100% TransCanada's liability.
Maybe you are right, and Saudi oil is just so much cheaper and competitive than Albertan oil. Let TC make that mistake themselves and go bankrupt. TC sure as heck doesn't need some random person on the internet to judge the global (or even Canadian) oil market and then make a decision for them.