Like it or not, crude oil is the biggest reason for Canada’s prosperity

[Anonymous]

All the big ticket items the anti oil NDP and Greens promise will be paid for by the very industry they demonize--Canada's oil and gas sector.



https://business.financialpost.com/opinion/like-it-or-not-crude-oil-is-the-biggest-reason-for-canadas-prosperity?fbclid=IwAR0bnSMSaRrmRJsXea7xkzoV-D0j-O0FCtU68CYNN88870X1c95rKDVTzjE">https://business.financialpost.com/opin ... 95rKDVTzjE">https://business.financialpost.com/opinion/like-it-or-not-crude-oil-is-the-biggest-reason-for-canadas-prosperity?fbclid=IwAR0bnSMSaRrmRJsXea7xkzoV-D0j-O0FCtU68CYNN88870X1c95rKDVTzjE

Like it or not, crude oil is the biggest reason for Canada's prosperity

Patricia Mohr: Even at the bottom of the oil-price correction in 2016, crude remained the largest positive contributor to Canada's merchandise trade, generating a $33-billion surplus



The oil industry looms large in the Canadian economy and, in many ways, pays the rent in Canada. Yet many Canadians appear unaware of how critically important the oil industry is to the national economy, a fact often lost in the debate over the Trans Mountain pipeline expansion.



Canada is a trading nation. We owe our economic prosperity and relatively high per-capita income to trade — and crude oil dominates that trade. In 2014, before the oil-price downturn, crude oil alone generated a $70-billion trade surplus for Canada — excluding smaller surpluses in refined petroleum products and natural gas — far outstripping any other export category (the closest is metals and minerals) and helping to offset large, chronic deficits in autos and parts, industrial machinery, electronic goods and consumer products.



Even at the bottom of the oil-price correction in 2016, crude oil remained the largest positive contributor to Canada's merchandise trade, generating a $33-billion surplus. In 2017, net oil exports increased again to $46 billion and will likely climb to over $50 billion this year, alongside the recent recovery in West Texas Intermediate (WTI) oil prices to the $70 mark.



Oil industry tax and royalty revenues have also strengthened the overall fiscal position of governments across Canada, helping to fund social services. In 2016, the latest year for which data is available, Alberta payments to Ottawa were around $22 billion more than it received, amounting to over $5,100 per capita, helping to fund equalization payments to Quebec, the Maritime provinces and Manitoba. Alberta has consistently shared a portion of its resource wealth with the rest of Canada. Per capita, Alberta's net federal payments are five times bigger than any other province.



The contribution of the oil industry could have been even greater — much greater — had more export pipeline capability been available, especially to the Canadian West Coast, but also to the United States. While export shipments to Asia are possible the existing Trans Mountain pipeline through the Port of Vancouver, pipeline utilization is tight, limiting overseas volumes. The vast bulk of Canadian oil exports flow to refineries in the U.S. Midwest, the mountain states and the Gulf Coast.



A lack of alternative export outlets for Canadian crude often translates into wide price discounts off WTI oil (the North American reference price) whenever U.S. demand slows seasonally or when there is a significant U.S. refinery outage. Late last year, a service interruption on a key pipeline to the U.S. caused the heavy-oil price discount off WTI to widen to around US$30, much higher than the US$12 justified by the higher cost of processing heavy crude. Discounts on light and medium crudes widened as well.

[Anonymous]

https://www.youtube.com/watch?v=ag90G0fR4ts&feature=youtu.be&fbclid=IwAR2g5wYYKAoW0m4ZDt0ZJaHAKw2GCwkq6DiWd-AnFBYemoQe-9jdZ45Q-pM">

[Anonymous]

Canadian politicians are determined to make this country less prosperous in the future. Our elected wastes of skin will almost certainly get their wish.

[Anonymous]

https://scontent.fyxd2-1.fna.fbcdn.net/v/t1.0-9/s960x960/81618436_2488566951457623_1699814967605198848_o.jpg?_nc_cat=106&_nc_ohc=JrijVMewbPkAQl0Yd1Aaou8x7aTz5-4TVoMVyTMG5sCYXpULWucTzUIJA&_nc_ht=scontent.fyxd2-1.fna&oh=764f3b22e50a10e01dc0c34c9134764b&oe=5EB18588">

[Anonymous]

Herman, learn how to post images.

[Anonymous]

All the big ticket items the anti oil NDP and Greens promise will be paid for by the very industry they demonize--Canada's oil and gas sector.



https://business.financialpost.com/opinion/like-it-or-not-crude-oil-is-the-biggest-reason-for-canadas-prosperity?fbclid=IwAR0bnSMSaRrmRJsXea7xkzoV-D0j-O0FCtU68CYNN88870X1c95rKDVTzjE">https://business.financialpost.com/opin ... 95rKDVTzjE">https://business.financialpost.com/opinion/like-it-or-not-crude-oil-is-the-biggest-reason-for-canadas-prosperity?fbclid=IwAR0bnSMSaRrmRJsXea7xkzoV-D0j-O0FCtU68CYNN88870X1c95rKDVTzjE

Like it or not, crude oil is the biggest reason for Canada's prosperity

Patricia Mohr: Even at the bottom of the oil-price correction in 2016, crude remained the largest positive contributor to Canada's merchandise trade, generating a $33-billion surplus



The oil industry looms large in the Canadian economy and, in many ways, pays the rent in Canada. Yet many Canadians appear unaware of how critically important the oil industry is to the national economy, a fact often lost in the debate over the Trans Mountain pipeline expansion.



Canada is a trading nation. We owe our economic prosperity and relatively high per-capita income to trade — and crude oil dominates that trade. In 2014, before the oil-price downturn, crude oil alone generated a $70-billion trade surplus for Canada — excluding smaller surpluses in refined petroleum products and natural gas — far outstripping any other export category (the closest is metals and minerals) and helping to offset large, chronic deficits in autos and parts, industrial machinery, electronic goods and consumer products.



Even at the bottom of the oil-price correction in 2016, crude oil remained the largest positive contributor to Canada's merchandise trade, generating a $33-billion surplus. In 2017, net oil exports increased again to $46 billion and will likely climb to over $50 billion this year, alongside the recent recovery in West Texas Intermediate (WTI) oil prices to the $70 mark.



Oil industry tax and royalty revenues have also strengthened the overall fiscal position of governments across Canada, helping to fund social services. In 2016, the latest year for which data is available, Alberta payments to Ottawa were around $22 billion more than it received, amounting to over $5,100 per capita, helping to fund equalization payments to Quebec, the Maritime provinces and Manitoba. Alberta has consistently shared a portion of its resource wealth with the rest of Canada. Per capita, Alberta's net federal payments are five times bigger than any other province.



The contribution of the oil industry could have been even greater — much greater — had more export pipeline capability been available, especially to the Canadian West Coast, but also to the United States. While export shipments to Asia are possible the existing Trans Mountain pipeline through the Port of Vancouver, pipeline utilization is tight, limiting overseas volumes. The vast bulk of Canadian oil exports flow to refineries in the U.S. Midwest, the mountain states and the Gulf Coast.



A lack of alternative export outlets for Canadian crude often translates into wide price discounts off WTI oil (the North American reference price) whenever U.S. demand slows seasonally or when there is a significant U.S. refinery outage. Late last year, a service interruption on a key pipeline to the U.S. caused the heavy-oil price discount off WTI to widen to around US$30, much higher than the US$12 justified by the higher cost of processing heavy crude. Discounts on light and medium crudes widened as well.

Canadian oil and gas has made Canada a desirable destination for immigrants around the globe.

[Anonymous]

When Trudeau, the dippers and their foreign financiers put up roadblocks against Canadian(ONLY) energy development, Canada's innovative oil and gas sector uses technology to get around it.



https://business.financialpost.com/commodities/energy/oil-sands-crude-could-get-even-heavier-amid-pipeline-shortage?utm_medium=Social&utm_source=Facebook&fbclid=IwAR20b8ofUb44Nkh6Dwcgd-uJBNN1TVz6IaHrv8gw4MXMLVRXJTHdRoDI3WY#Echobox=1575309845">https://business.financialpost.com/comm ... 1575309845">https://business.financialpost.com/commodities/energy/oil-sands-crude-could-get-even-heavier-amid-pipeline-shortage?utm_medium=Social&utm_source=Facebook&fbclid=IwAR20b8ofUb44Nkh6Dwcgd-uJBNN1TVz6IaHrv8gw4MXMLVRXJTHdRoDI3WY#Echobox=1575309845

Struggling oilsands producers have a plan to cut costs and export more crude amid pipeline shortage



Canada's struggling oilsands industry has a plan to cut costs while exporting more of their crude: Make it even heavier.



Companies including Cenovus Energy Inc., Gibson Energy Inc., Imperial Oil Ltd. and MEG Energy Corp. are looking to remove condensate and other light oils from the oilsands bitumen they produce, so they can get more of it onto rail cars.



Doing so would dramatically reduce the cost of shipping crude by rail to the U.S. Gulf Coast, which otherwise can cost twice as much as shipping by pipeline. Removing the light oils, called diluent, would make rail shipments nearly as cost-effective as pipeline exports, said Dinara Millington, vice president of research at the Canadian Energy Research Institute.



Shipping bitumen to the Gulf Coast with little to no diluent can save a producer more than US$6 a barrel versus shipping diluted bitumen, according to IHS Markit.



Canadian producers have long considered building diluent recovery units, or DRUs, to remove condensate from their bitumen and shipping more of it by rail. Now, a few companies are pushing ahead with the projects as plans to expand pipelines such as the Trans Mountain line to the Vancouver area and Enbridge Inc.'s Line 3 face repeated delays.



Cenovus plans to submit an application this quarter to build a $800 million (US$602 million) to $1 billion DRU at its Bruderheim rail terminal, with plans to start construction within a year. The plant would process 180,000 barrels a day of diluted bitumen, stripping out 60,000 barrels a day that would be recycled back to oil-sands sites.



Gibson Energy is working with its partner USD Group LLC. to secure commercial support for a DRU at its Hardisty, Alberta, terminal and is "well advanced" on a commercial agreement with one customer for a portion of the first 100,000 barrels a day required for phase one, Steve Spaulding, chief executive officer, said in an Nov. 5 investor call.



"We are currently working to secure customer commitments for the project; and sanctioning will be dependent on those commitments," Brian Radiff, Gibson spokesman, said in an email. Construction will take about 18 months with the plant operational as early as the second quarter of 2021.



The pipeline shortage that emerged last year, sending local oil prices tumbling to the lowest in a decade, prompted companies to sign up for long-term rail contracts, said Kevin Birn, IHS Markit's director of North American crude oil markets. That "taught producers they need to invest in flexibility to ensure they can maximize value of their product," he said.



Still, shipping undiluted crude by rail is more logistically challenging, requiring special heating equipment and possibly designated tanks at the receiving terminal, Birn said. Rail cars must be insulated with heating coils.

[Zetsu]

I couldn't agree enough with what Herman has posted, I bet our currency would be worth nothing toilet paper if it wasn't for the oil industry, and this fking bag o shit trudeau is trying to destroy what Canada only has left to stand on an international scale.

[Anonymous]

I couldn't agree enough with what Herman has posted, I bet our currency would be worth nothing toilet paper if it wasn't for the oil industry, and this fking bag o shit trudeau is trying to destroy what Canada only has left to stand on an international scale.

He wants accolades from the IPCC instead of doing his job and telling the story of the most innovative and environmentally responsible oil and gas sector in the world.

[Zetsu]

I couldn't agree enough with what Herman has posted, I bet our currency would be worth nothing toilet paper if it wasn't for the oil industry, and this fking bag o shit trudeau is trying to destroy what Canada only has left to stand on an international scale.

He wants accolades from the IPCC instead of doing his job and telling the story of the most innovative and environmentally responsible oil and gas sector in the world.

The idiot should just resign asap, the only job that he'll ever be useful at is being a male prostitute, no joke.

[Anonymous]

I couldn't agree enough with what Herman has posted, I bet our currency would be worth nothing toilet paper if it wasn't for the oil industry, and this fking bag o shit trudeau is trying to destroy what Canada only has left to stand on an international scale.

He wants accolades from the IPCC instead of doing his job and telling the story of the most innovative and environmentally responsible oil and gas sector in the world.

The idiot should just resign asap, the only job that he'll ever be useful at is being a male prostitute, no joke.

I think he's still in Costa Rica on an $130,000 trip we paid for..



Does he ever do any work?

[Anonymous]

I couldn't agree enough with what Herman has posted, I bet our currency would be worth nothing toilet paper if it wasn't for the oil industry, and this fking bag o shit trudeau is trying to destroy what Canada only has left to stand on an international scale.

What other country deliberately kneecaps it's number one export. What other national leader does that. It makes no sense.

[Zetsu]

I couldn't agree enough with what Herman has posted, I bet our currency would be worth nothing toilet paper if it wasn't for the oil industry, and this fking bag o shit trudeau is trying to destroy what Canada only has left to stand on an international scale.

He wants accolades from the IPCC instead of doing his job and telling the story of the most innovative and environmentally responsible oil and gas sector in the world.

The idiot should just resign asap, the only job that he'll ever be useful at is being a male prostitute, no joke.

I think he's still in Costa Rica on an $130,000 trip we paid for..



Does he ever do any work?

NAFTA, the oil industry, war on drugs, taxes, refugees, middle class, etc, tbh that's all I could think of when it comes to Trudeau.  



It seems like only a very small minority benefited from his policies but harmed most of the good innocent folks.

[Anonymous]

I couldn't agree enough with what Herman has posted, I bet our currency would be worth nothing toilet paper if it wasn't for the oil industry, and this fking bag o shit trudeau is trying to destroy what Canada only has left to stand on an international scale.

He wants accolades from the IPCC instead of doing his job and telling the story of the most innovative and environmentally responsible oil and gas sector in the world.

The idiot should just resign asap, the only job that he'll ever be useful at is being a male prostitute, no joke.

I think he's still in Costa Rica on an $130,000 trip we paid for..



Does he ever do any work?

NAFTA, the oil industry, war on drugs, taxes, refugees, middle class, etc, tbh that's all I could think of when it comes to Trudeau.  



It seems like only a very small minority benefited from his policies but harmed most of the good innocent folks.

People at the very bottom are better off because of the increase to child benefits. But, higher taxes on high income earners did not pay for it as he said it would. Instead we have a nearly $27 billion deficit this year. So, it was essentially vote buying because it's unsustainable.

[Anonymous]

Alberta's Aboriginal communities recognize the good the oil and gas sector does even if Trudeau Laurentian urban elitist government cannot.



Indigenous communities back proposed oilsands mine



Indigenous communities near a controversial oilsands development in Alberta's northeast are lending their voices in support of the project, arguing the company in charge will keep environmental impacts to a minimum.



The Teck Frontier oilsands mine is located between Fort Mcmurray and Fort Chipewyan and is currently awaiting approval from a joint provincial and federal panel. The mine hopes to produce 260,000 barrels per day by pipeline once at full production.



The company has agreements with all 14 Indigenous communities in the project area.



The project has received a lot of attention from advocates who argue the mine could do serious harm. In November, Indigenous and environmental groups held a conference calling for the mine to be scrapped.



Ron Quintal, the president of Fort Mckay Métis Nation, said his community signed on after years of consultation and shares a lot of the concerns regarding the environment but believes Teck will take all the necessary steps to lessen those impacts.



"I respect everyone's opinion, but I find in far too many circumstances Indigenous people are used as a lightning rod to polarize the issues like oilsands development," he said. "I don't agree with that. Indigenous communities should have the right to have their own voice and to be able to speak. Speaking on behalf of Fort Mckay Métis, we don't want anybody coming in and telling us our business."



Fort Mckay Métis Nation, located roughly 20 km north of the proposed mine, recently became self-declared and has about 112 members. The community relies heavily on the oil industry to provide work.



Quintal said the community has taken a lot of steps to become self-sufficient, including working with industry. He said he's never seen the level of consultation that Teck has provided.



"At the end of the day, if those (environmental) impacts are going to continuously mitigate, I think that's half the battle," he added.



Bill Loutitt, CEO of Mcmurray Métis, said with nearly 600 members, his community is the largest in the area. Like Quintal, Loutitt praised Teck for working with Indigenous communities in order to come to an agreement.



"They continue to develop in an environmentally friendly way," he said. "That's one thing that is in our agreement. There's a lot of committee work, and when there are issues, we're on the ground and we help them work through these to a solution. It's very tough to develop oilsands without some environmental damage. By working with them, we feel we're going to be able to help them reduce that amount of environmental impacts."



Loutitt said the mine will do a lot to boost the community's employment and mentioned they have promises from Teck that they will hire within the area.