Canada will fast track the approval process for a new proposed crude oil export pipeline to its west coast that could generate over C$20 billion ($14 billion) a year in GDP, Prime Minister Mark Carney said on Thursday.
The pipeline, which was announced in July, is a crucial part of Carney’s bid to diversify the economy away from the United States and help lessen the effect of Donald Trump’s tariffs.
Carney said Ottawa would officially list the Pacific Link pipeline as a project of national interest, which enables it proceed through a single federal regulatory review process. He said Ottawa aimed to complete the process by September 1, 2027.
That project is like a decade old and no, its not getting fast-tracked if Canadians have anything to say about it.
No first nations want it along irs route. Good luck.
Carney has shown nothing but silent contempt for First Nations rights. I doubt any amount of protest will stop this. Sucks. We could be laser focused on nuclear power or something, but instead it’s the same old fucking oil and just to appease that treasonous slime bag in Alberta.
As a Canadian, I’m mixed on this. I acknowledge the argument that oil is still a product that is going to remain in demand for a long time still, even as demand declines. I don’t see the middle east conflict being entire over for a long time yet either, so having a conflict free (ish? As long as the US doesn’t invade) source may help our allies as they move to other energy sources.
That said, I don’t know that the cost is worth the potential returns, and every day it seems more certain that the Canadian taxpayer is going to bear the cost of this “Nation Building Project.” That’s a lot of money that could have been spent on securing low carbon infrastructure at home.
Mixed feelings as well. But it does mean we can sell the same amount of oil at higher prices to world markets instead of selling at a discount to the US.
Not really though. I mean, there’s a reason we set up to ship most of it to the US in the first place. Most other countries on earth have suppliers that are much closer/already meeting their needs. We’ve got a window here where we might steal some market share from the middle east, but even then, most countries aren’t going to want to keep paying higher prices for Canadian oil when the dust settles, and they have every incentive to move to cheaper energy sources in the mean time. Non-energy petro-chems aren’t nearly as big a market as fuel, and the push to avoid plastic where we can is making even that questionable.
The US discount isn’t that big when you factor in the added cost of getting it either over the mountains or past Hudson bay. If Brent Crude drops below $40/barrel we’ll be losing money on every barrel we ship. You’ld have to pay other countries to take it.
Today there’s some sense to it, but in the long term? We better hope the price of oil stays over $100/barrel for the rest of the decade, and people don’t decide gas costs too much and they’d be better off with an electric car.
This pipeline is more of a hedge, imo. Carney doesn’t want us to get caught with our pants down in case of a more critical issue with the US.
It’s going to be important moving forward for Canada to drop 100% of its dependency on the USA. The USA is a failed country and its implosion will destroy its allies. Time to make new friends.
I’m not disagreeing with that sentiment. The question is, who’s buying? Because the global oil market is declining, and the countries that need it now, are the ones moving fastest away from oil. Our oil isn’t cheap to extract, it’s not near a port and the transport costs are going to mean we’re at a price disadvantage in a shrinking market. I get the sentiment that this isn’t over yet, but at what point are we throwing good money after bad to build infrastructure that’s never going to break even, let alone turn a profit?
They thought tmx was gonna be a dead pipe too, but humanity are idiots.
Maybe he’s just trying to keep Alberta happy and engaged.
Yeaaah, about that. I’m an Albertan, and it’s not helping.
Different albertans. Pipelines keep a few albertans happy, those who facilitate Americans owning 99% of any oil&gas resource projects and reap the profits, because then they get some kickbacks.
It’s making albertans happy; just nowhere near all or even a significant number of them. It’s making the “important” albertans happy, if you ask Marlaina.
No “oil pipeline” is ever a good idea no matter the self serving justifications.
