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Originally Posted by username
It's come to a point where I would almost be ok with building our own refinery. I'd put my tax dollars towards building it because the amount of money we are losing and have already sacrificed would probably make it a viable project.
Plus, I'd love to see the look on the feds face when they realize that we don't need Transmountain any more and they just blew 5.5 billion on it for nothing.
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Originally Posted by Ozy_Flame
I may not be reading this right, but explain to me how building a refinery supplants the ability to sell product to international markets?
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Originally Posted by Weitz
Yah, building a refinery here wouldn't change anything.
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Refined products (e.g. gasoline, diesel) fetch global prices, even in landlocked Alberta. They aren’t pegged to WCS. That’s where the argument comes from. However even with that, building a refinery is still a terrible deployment of capital. The return sucks. They’re too expensive even relative to the diff they’d help close. And even if they were economic at today’s prices, they’re too risky since they need decades to pay off and one pipeline in that timeframe would crush the diff they’d rely on.