Mark Collins – Canadian Hydrocarbon Heartbreak? Worser and Worser

Further to this post just over a year ago, and disappointing news on the British Columbia LNG front, three recent headlines:

Oil Heads Back to the Thirties


An Oil-Soaked Globe as Production Keeps Climbing and Demand Falls

Iran to export additional 500,000 barrels of oil [per day] after sanctions lift

Plus this: POTUS killed the KeystoneXL oil pipeline and now the new Liberal government effectively kills the Northern Gateway one to the northern B.C. coast.  The new transport minister is to (mandate letter)…

Formalize a moratorium on crude oil tanker traffic on British Columbia’s North Coast, working in collaboration with the Minister of Fisheries, Oceans and the Canadian Coast Guard, the Minister of Natural Resources and the Minister of Environment and Climate Change to develop an approach…

Only Energy East and Kinder Morgan still sort of standing.  Whilst oil sector job losses keep coming.  Sunny ways, anyone?

Mark Collins, a prolific Ottawa blogger, is a Fellow at the Canadian Global Affairs Institute; he tweets @Mark3Ds


3 thoughts on “Mark Collins – Canadian Hydrocarbon Heartbreak? Worser and Worser”

  1. Trudeau the Jr will set back the Liberal party in Alberta 40 years.

    Energy East is being scrapped and even the Kinder Morgan expansion is being forced to reapply in a process designed never to have an end. There will be no new pipelines under Trudeau.

    There will also be no refineries as the only thing environmentalists hate more than pipelines are refineries.

    The only possible good thing about the Paris attacks is that there will no longer be massive waves of protesters for the new leader to grandstand in front of. But I still fear that he is going to kneecap the country with abusive carbon taxes levied against Alberta.

    Some thing to keep in mind is that even though the price of oil has collapsed and jobs are being slashed left and right and Alberta runs a huge deficit Canada still gets more money from Alberta’s oil than Alberta does. Alberta still has to come up with the rest of Canadas transfer payment money for the next 10 years at the same level as when oil was $100/bl. That is the lag time in transfer payment adjustments and could mean Alberta sees no money at all from it’s oil in some years. There is also the question of what these actions will have on Canadas budget. The damage will be done before we know for sure.

    I suspect we will be hearing the words “Alberta Separation” again before the Trudeau years are done.

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