Quote:
Originally Posted by Regorium
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.
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Yeah, I'm only asking because I hear different things from different people, and I'd like to be as accurate as possible when forming an opinion.
The one thing I will point out however is that some of the folks who think we should be cutting off our reliance on Saudi oil out of principle are the same people who are saying we shouldn't worry about cutting our emissions because they represent a drop in the bucket overall, which I find to be a bit morally inconsistent.