Quote:
Originally Posted by Firebot
Free market is saying that is it cheaper to refine oil in the US in refineries located in Texas and export it back to Canada, than refining the oil in Canada.
Free market says that when oil crashed to negative pricing in 2020 and Irving finally bought Alberta oil as it was finally profitable to do so, it was cheaper to ship it across the fricking Panama Canal than it was for it to travel within the same country (which Energy East would have facilitated interprovincial trade).
https://twitter.com/user/status/1257709178719633409
Free market dictates it made more economical sense for Onvitiv to relocate it's Calgary headquarters to the US.
Free market dictates that Shell divested its oil sands assets for more lucrative projects outside of Canada after significant political turmoil in Canada and new proposed regulations such as Bill C-69 showing worsening situation.
The free market will do what is most profitable. Canada is currently not very friendly to investments within Canada. |
The free market dictates it’s cheaper to ship to the gulf or mid west than the east coast of Canada so that’s where pipelines get built.
See if you can find that barge cost, energy east was a bad project from a capital investment point of view when compared to things like keystone, TMX and gateway.
I think shell divested from Canada do to environmental reputation concerns in Europe as CNRL was happy to scoop up those assets for cheap.