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Originally Posted by Hemi-Cuda
How many coal rich regions thought the same way a few decades ago, only to be destitute by not being able to shift their economies when coal died? Oil is a dying industry, pipelines are nothing but a bandaid solution at this point.
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Those coal rich regions probably died because
a) They ran out of good coal, not an issue for Alberta's large oil reserves
b) They faced competition from cheap natural gas and weren't able to export coal to coal hungry regions. Australia's coal exports are almost as big as Alberta's oil exports.
But as a critically important global source of energy, declarations of the death of coal look extremely premature (coal is the top line).
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The biggest problem facing Alberta right now is having a government that refuses to believe that and has wasted billions of dollars on a sinking ship
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The biggest problem for Alberta is that relatively unique for a major oil exporter, it has trouble getting oil to world markets. Like with LNG, the lack of export capability means that Canada has left tens of billions of dollars every year on the table for the Middle East and Australia to scoop up.