Many Albertans would prefer to believe that once the Trans Mountain pipeline is rammed through, the good times will…
Many Albertans would prefer to believe that once the Trans Mountain pipeline is rammed through, the good times will be here again. Again, the numbers tell a different story.
Oil economist Jeff Rubin recently published a damning assessment of the viability of increased pipeline capacity out of Alberta. Asian markets actually pay $8 a barrel less than U.S. refineries for heavy oil like Alberta bitumen. Likewise, European refineries typically pay $3 below the U.S. market after a long expensive boat ride. #abpoli #ableg
https://thetyee.ca/Opinion/2018/02/23/Fantasies-Keep-Pipeline-Plans-Alive/
6 comments
Tax payer money keeps the dream alive…
This article makes some good points, however, the world-wide demand for oil is not decreasing.
The glory days are over but Alberta refuses to believe it. Both NDP and UCP cater to the people’s desire to bring them back, but they aren’t coming. Notley is working on a Plan “B” but Kenney doesn’t think one is needed.
Weabul Grey No, but the demand for bitumen is. Foreign markets pay less for it than the US. The US is out producing us, and the demand for bitumen will continue to decrease. That’s what I think…
Global Bitumen Market Will Reach USD 34.36 Million By 2024: Zion Market Research
(…not sure if that’s up or down, as I’m a little rusty)
It’s up … I guess
The global bitumen market is expected to witness significant growth over the forecast period on account of increasing demand from the construction industry.
globenewswire.com – Global Bitumen Market Will Reach USD 34.36 Million By 2024: Zion Market Research
I’ve read there will be an increase in demand. Producers in Alberta are struggling to find markets for oil, to attract capital investment and to contend with the NDP government’s tax on carbon dioxide emissions. Some of the companies have sold out to the bigger ones and have moved to the US. I think we have to “wait and see” what this increasing demand means for Canada.