Quote:
Originally Posted by 1overcosc
Energy East is probably too much money to spend at this point for a sunset commodity. It is a damn shame we didn't built it though - it would have been a hugely valuable asset to have in 2022 when the EU was cut off from Russian oil.
There's a lesson here. Make hay while the sun shines. Don't let opportunity pass us by.
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I think there is still a lot of value in oil. Maybe less so now that construction costs have exploded since the mid-2000s when all of these other pipelines were conceived of, but value nonetheless. Moving towards electrification in cars, public transportation, and power generation is a good thing, but I don’t think it will be able to penetrate other fuel-heavy sectors like heavy industry, construction, agriculture, and aviation for a very long time. There will also always be value in using oil-derived products for synthetic materials.
Even just having a greater capability for export is beneficial even if we reach peak oil. Demand for fuel imports in Asia, Africa, and Europe is not going away anytime soon (as evidenced by oil production ramping up immediately to fill TMX), and as long as Russia/the Middle East remain unstable, Canadian oil will always have a value proposition, especially in the era of sanctions and friendshoring.
Quote:
Originally Posted by goodgrowth
Please stop bothering Quebec with your dirty energy proposals they only do sophisticated emission-free industries:
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Can’t forget that Quebec also operates the third and fourth-largest refineries in the country. I can respect the pushback, but Quebec’s opposition didn’t really mean much (they can complain all they want but pipelines are federal jurisdiction) when it was the conflict of interest situation between the NEB and TransCanada/Jean Charest that ultimately killed the project.