Canada will fast track the approval process for a new proposed crude oil export pipeline to its west coast that could generate over C$20 billion ($14 billion) a year in GDP, Prime Minister Mark Carney said on Thursday.
The pipeline, which was announced in July, is a crucial part of Carney’s bid to diversify the economy away from the United States and help lessen the effect of Donald Trump’s tariffs.
Carney said Ottawa would officially list the Pacific Link pipeline as a project of national interest, which enables it proceed through a single federal regulatory review process. He said Ottawa aimed to complete the process by September 1, 2027.
It’s going to be important moving forward for Canada to drop 100% of its dependency on the USA. The USA is a failed country and its implosion will destroy its allies. Time to make new friends.
I’m not disagreeing with that sentiment. The question is, who’s buying? Because the global oil market is declining, and the countries that need it now, are the ones moving fastest away from oil. Our oil isn’t cheap to extract, it’s not near a port and the transport costs are going to mean we’re at a price disadvantage in a shrinking market. I get the sentiment that this isn’t over yet, but at what point are we throwing good money after bad to build infrastructure that’s never going to break even, let alone turn a profit?
China. Also, tar sand sludge is a shit form of oil, needs a lot of refining, it’s not sweet crude. It’s not even oil, it’s bitumen or sour crude.
China is already looking at peak consumption before the end of the decade. That’s a small window.
They thought tmx was gonna be a dead pipe too, but humanity are idiots.
Yeah, but the thing is, reality has this weird habit of giving you just enough rope to hang yourself with, and then snapping the noose closed when you actually do it. The tax man for the idiot tax takes his sweet time getting there, but he doesn’t suffer excuses when he arrives.