The $25B Oil Pipeline That Could Make or Break Canada’s Economy | WSJ Breaking Ground
Canada is the world’s fourth largest oil producer because of Alberta’s oil sands, but 98% of its exports go to the U.S. The Trans Mountain pipeline expansion aims to change that and open up
exports to new markets in countries like Japan, China and India.
WSJ explores what’s at stake for Canada’s global ambitions and the world’s oil and energy markets.
Chapters:
0:00 Canadian oil
0:45 Who wants this?
4:48 Geopolitics
6:58 Is the expansion worth it?
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46 Comments
Canadian grain terminal workers strike, risking exports: https://on.wsj.com/4dtJwsx
I”m glad it was built.
@7:08, is a bit hilarious, since when I was in university everyone was freaking out because there would not be enough oil. Now we are being told the problem is that people will not need oil. Oh boy.
Worked on it, it's was definitely needed but people milked that job for all it was worth.
Oil demand is only going to grow!!!!!!!!!!!
Lol @ the idea that an oil pipeline could make or break the Canadian economy.
Perez Mary Allen Scott Jones Carol
I just hope the Chinese appreciate the clean green oil we are sending them from Canada. Birds love it, beavers seek it, salmon can't afford it.
Oil is not evil. It is a transitional energy source that is required until we can move to more, and more cleaner resources. It will be used for a long time, and Canada needs this for it's economy.
All this from a tree hugging environmentalist.
Your Biden shut down the keystone pipeline
Nice ad, shills. Solar, wind, geothermal, etc. Are all now cheaper than oil or coal. We should dismantle this pipeline. Everyone building them are needed to build more housing.
"The effects of global warming will be globally catastrophic by 2030" -Exxon board member at a leaked meeting in the 1980's
Oil production peaked in 2019 and is slowly going down. The people still supporting it are high on copium.
Electric vehicles are technologically superior and perform better. Electric vehicles are cheaper. The only reason you can't buy a chinese made electric car for $12,000 with a 300km range is becasue China would out compete Canada in the "free market".
When the ocean conveyor belt shuts down in 15 years because of climate change, we will lose roughly 50% of all the land on earth that we use to grow food.
Gov should have made it easier to build
Might as well short the investment not invest. Anything good for us is destroyed by the liberals
So they won't spend 2% GDP on defence and now they jacked up oil prices for the US only to make 0 money for it…
sounds like the US has a canada problem
It is possible to be a climate leader and oil producer under a nationalized investment plan e.g., Norway's Oil Fund.
I mean really, this transmountain pipeline should've been build decades ago, inter-province poliitics BS stop our own interests. We can build just just as long as pipelines to the US, but we can't in our own country? Sad AF. We basically let this imbalance to the USA drive own our own prices, basically shooting ourselves in the foot. Canadian gov't can't get out of it's own way.
Most likely USA lobbyist were trying to stop Transmount, glad it's finally built even if it was like 6x over budget.
Thompson Melissa Davis George Allen James
1st problem with them countries you listed are buying cheaper Russian oil!
Russia does not tax the snot out resources like the west does!!
Yes we will but we won't be selling 98% @ below market value to you. And since the Keystone XL pipeline wasn't built, you will only get what's leftover shipped to you via truck or railway. Oops since CN and CP are about to go on strike, you won't get anything by rail. Cheers 🤪
Please do your research. Canada didn't have a choice due to Logistics. Since Biden blocked the Keystone XL pipeline, oil will only be shipped to you via a dangerous railway system that is about to go on strike. Now that Canada can get the oil to the west coast, the market opportunities are endless starting with Japan and South Korea to the Philippines and New Zealand. And they ALL pay market price not like the U.S. who took advantage of Canada.
Canada is a multi Trillion dollar economy. How can a 25B project make or break that economy?
Oil demand will continue to rise regardless of what the talking heads say. There is no other feasible alternative.
Additionally, Canada tried to increase capacity to the US via Keystone XL but that was immediately shut down by the Biden Administration.
One thing not specifically noted, is though Alberta oil is (was) captive to US markets, many US refineries are designed specifically to refine Alberta oil. These refineries cannot be changed to other oil supplies, so those refiners are captive to Alberta oil
As long as the current liberal government is in power and the disastrous Bill C69 is into law one must forget about all these.
The pipeline should have went east and refinerys put up in other provinces to create jobs. But Quebec doesnt want jobs they just reap the reward of 11 billion a year in equalization payment. And they critisize alberta all the time if it was up to me they wouldnt get any money.
Climate change = ban Chinese EVs. What a clown. Canada is just a US lapdog rather than a sovereign country 😂
Last 3p seconds says it all let build pipe line till we can't no more native won't let you through rebuild there hole community and they'll let the people line go lots need save drinking water
Forget oil, it's over!
If Canada is dependent on the oil industry for our economy we are stupid and in trouble.
So Canadian taxpayers are subsidizing chinese drivers and paying huge taxes on our fuel so we can get to work and get our kids to school ?? nice .Thanks Trudeau!!
Fun with numbers, as always. How does a project that is "making up $2.7 billion per year in forgone oil revenues" generate "$34 billion" in new tax revenues? The Bank of Canada attributes all of the personal income taxes that construction phase and continuous pipeline operations workers will pay to "the project". Of course, this new tax revenue estimate only makes sense if one agrees that the wrokers would be unemployed, in perpetuity, in the absence of the project. Look at Canada's labor force participation and unemployment rates and ask if that is a reasonable counterfactual scenario description. It is not.
Albertans work hard to deliver the oil for so many lives to be better.
Albertans as all of Canada is being punished for using that product. Climate fear is rammed down our throats. But the production will be increased only to sell it. Not for our own use as that’s said to be bad !?!?!?!
Just another if many lies Canadians must live with from its government and business .
Not much has changed in Canada since 1867!
greed knows no boundries
Alberta is no different
Heritage trust fund
Poof gone
I rest my case 😢
Open Oil Pipelines from Canada to USA. YouTube.
It’s not going to break Canada we are to resilient and to many resources
The world is not moving way from oil. Environmentalism is the luxury of a wealthy society. We only play w wind and solar because we have more money than sense. That won’t last long.
Powerful decisions like this will be met with uncertainties and questions raising honest concerns. The goal is quite clear with the pipeline tho
Establish a fair market for Canadians and get the most money out of it rather then out sourcing the production.
I support it but am qued to worry since it is the Canadian government they track record lately has been questionable at best. But to the best we hope and the worst we shall prepare for. If Canadians absolutely have to we will figure it out.its part of culture unity during stressful times.
The pipeline bondoogle is a perfect representation of our current governments incompetence. Thank god its finally finished.
That 25 billion entered the Canadian economy in one form or another.
Why not account for the activity those $ create for the country .
Someone got paid those $.
Pollution
Asian countries are also adopting EVs way faster than any other country while the pipeline is way over budget. Trudeau is always terrible at managing tax dollars
Not even close to the real story ! Who does your research?