Why 2020 Could Be A Crisis Year For Canadian oil
The Fossil Fuel Industry Is Collapsing
Alberta’s History of Squandered Opportunities
Alberta's oil sands has the third largest oil reserves in the world, after Venezuela and Saudi Arabia.
Alberta’s History of Squandered Opportunities
Alberta's oil sands has the third largest oil reserves in the world, after Venezuela and Saudi Arabia.
Alberta's oil sands’ proven reserves equal about
165.4 billion barrels (bbl).
Why is our Resource-Rich Canadian Government Always Poor
It’s time to tell the truth
Economic cheerleading by federal and provincial politicians and the mainstream media on behalf of the oil industry
is doing the public a great disservice
Prime Minister Justin Trudeau
Spend C$4.5bn (US$3.45bn) Plus
To purchase
Kinder Morgan’s Trans Mountain Pipeline
The existing 300,000 barrel per day pipeline
Prime Minister Justin Trudeau’s repeated claims
A 800,000 barrels a day pipeline of crude to
Why is the Trans Mountain pipeline so valuable
Alberta oil products shipped through the Trans Mountain pipeline supplied 28.5 per cent of
Washington’s petroleum needs in 2017.
In fact, Today the majority of product now moved through the
Trans Mountain pipeline ends up in Washington hands.”
Not surprisingly,
Vancouver also has some of the highest retail gasoline prices in North America.”
Kinder Morgan Bait & Switch:
Backdoor pipeline to Washington State
The Trans Mountain pipeline has a southern leg –
called Puget Sound Pipeline
which splits off at Kinder Morgan’s Sumas Terminal in Abbotsford, B.C. and delivers tar sands to several refineries in Washington State,
Westridge Marine Terminal
Located within Port Metro Vancouver the marine terminal is capable of accommodating ships up to Aframax-size
It's Bankruptcy in Canada and Incredibly Profitable in USA
Why is our Resource-Rich Canadian Government Always Poor
It’s time to tell the truth
Economic cheerleading by federal and provincial politicians and the mainstream media on behalf of the oil industry
is doing the public a great disservice
Prime Minister Justin Trudeau
Spend C$4.5bn (US$3.45bn) Plus
To purchase
Kinder Morgan’s Trans Mountain Pipeline
The existing 300,000 barrel per day pipeline
Prime Minister Justin Trudeau’s repeated claims
that the pipeline was essential for Canada’s future.
Declaring the Trans Mountain pipeline was a matter of national interest
It's all because Canada lost the Keystone XL pipeline South
Declaring the Trans Mountain pipeline was a matter of national interest
It's all because Canada lost the Keystone XL pipeline South
Obama administration halted construction on
The remainder of the Keystone XL pipeline
Terminals on the Gulf Coast.
Alberta oil products shipped through the Trans Mountain pipeline supplied 28.5 per cent of
Washington’s petroleum needs in 2017.
In fact, Today the majority of product now moved through the
Trans Mountain pipeline ends up in Washington hands.”
Washington refineries buying Alberta bitumen have some of the largest profit margins in the world
up to $45 US per barrel
Vancouver also has some of the highest retail gasoline prices in North America.”
Kinder Morgan Bait & Switch:
Backdoor pipeline to Washington State
The Trans Mountain pipeline has a southern leg –
called Puget Sound Pipeline
which splits off at Kinder Morgan’s Sumas Terminal in Abbotsford, B.C. and delivers tar sands to several refineries in Washington State,
including the Ferndale Refinery (owned by Phillips 66),
the Cherry Point Refinery (owned by BP),
the Andeavor Anacortes Refinery (now owned by Marathon Petroleum), and
the Shell Anacortes Refinery (owned by Shell Oil).
The Puget Sound Pipeline currently has a capacity of 170,000 barrels per day (bpd), but in the documents filed for its IPO in May 2017,
Kinder Morgan indicated that they want to significantly increase that amount, according to
Sven Biggs of Stand. Earth's Bellingham, Washington office.
Located within Port Metro Vancouver the marine terminal is capable of accommodating ships up to Aframax-size
The truth is
The Port of Vancouver can’t even physically fit
The size of tanker required to economically compete
And increase oil tanker traffic under the
Lions Gate Bridge up to seven-fold,
Or pixie dust will change the raw laws of
BC.Gasoline and Diesel Prices Inquiry said
The Trans Mountain pipeline it never had anything to do with
The size of tanker required to economically compete
With other shippers of oil to Asia.
It cost 4 to 8 times more to ship oil from Vancouver to Asia
Vancouver will never be one of those ports.
No VLCC or ULCCs will ever arrive to offload foreign oil,
Then upload Alberta bitumen for a backhaul trip to foreign refineries.
So the pending Trans Mountain pipeline plan to triple oil sands exports,
Lions Gate Bridge up to seven-fold,
Is doomed.
So is the plan to expand oil sands output by 40 per cent.
No amount of cheerleading, or demonizing,
global oil economics.
BC.Gasoline and Diesel Prices Inquiry said
The Trans Mountain pipeline it never had anything to do with
Asian markets
Economist Robyn Allan told DeSmog Canada.
“Virtually no exports go to any markets other than the U.S.,”
Economist Robyn Allan told DeSmog Canada.
“Virtually no exports go to any markets other than the U.S.,”
‘Essentially we are giving oil away for free
And they will do anything to keep it that way
If this does not end Canada will be the next Venezuela
Alberta is a oil state, with all its advantages,
Nor is blaming the federal government
(in power for just over one term) for the lack of pipelines.
Royalties have declined from roughly 30 per cent in Lougheed’s time
To close to one per cent in the last few years; and yet the
Big Five
(Suncor, CNRL, Cenovus, Imperial and Husky)
Canada is now owned by foreign entities
When the Trans Mountain pipeline is finish
Most of the benefits go to Foreign Entities and Big Businesses
The only benefit Canadians get is a Job to pay for roads, schools and hospitals
Plus
Canada is now Number ONE in the world for Subsidies
Canada subsidized the fossil fuel industry to the tune of almost $60 billion per year— approximately $1,650 per Canadian.
Canada has one of the World’s lowest oil royalty rate structures .”
With a $260 billion bill to clean up Alberta’s oil patch
Our nation has an employed population of 18.4 million,
Meaning the average working person would have to pony up $14,000 to pay for
Alberta’s special relationship with the oil industry.
We have to stop the blame game;
This is why Canada will be the next Venezuela
Our nation has an employed population of 18.4 million,
Meaning the average working person would have to pony up $14,000 to pay for
Alberta’s special relationship with the oil industry.
We have to stop the blame game;
How many booms and busts does it take for a
Conservative government, in power for 44 years,
To acknowledge they have failed to both recognize the need for alternate markets for our oil
Now we are building the Trans Mountain pipeline to the south
Essentially we are giving oil away for free
To acknowledge they have failed to both recognize the need for alternate markets for our oil
Now we are building the Trans Mountain pipeline to the south
Essentially we are giving oil away for free
This is why Canada will be the next Venezuela
It's time to recognize that
Alberta is a oil state, with all its advantages,
entitlements, hubris and decades of quid pro quo
between the oil industry and the people in power
For 44 years
The Conservative government has been
Neglecting Alberta’s long-term well-being
between the oil industry and the people in power
For 44 years
The Conservative government has been
Neglecting Alberta’s long-term well-being
Nor is blaming the federal government
(in power for just over one term) for the lack of pipelines.
Royalties have declined from roughly 30 per cent in Lougheed’s time
To close to one per cent in the last few years; and yet the
Big Five
(Suncor, CNRL, Cenovus, Imperial and Husky)
continue to post billions in profits.
Albertans aren’t told that
More than two-thirds or 71% of the ownership of oil sands production in
Albertans aren’t told that
More than two-thirds or 71% of the ownership of oil sands production in
Canada is now owned by foreign entities
When the Trans Mountain pipeline is finish
Most of the benefits go to Foreign Entities and Big Businesses
The only benefit Canadians get is a Job to pay for roads, schools and hospitals
Plus
Canada is now Number ONE in the world for Subsidies
Canada subsidized the fossil fuel industry to the tune of almost $60 billion per year— approximately $1,650 per Canadian.
Canada has one of the World’s lowest oil royalty rate structures .”
It's Jobs over the Environment
Alberta oil Jobs are backsliding
Only 6 percent of the provincial total now.
In 2017, approximately 140,300 people were employed in Alberta’s upstream energy sector.
Source: Statistics Canada, Survey of Employment, Payrolls and Hours.
Last year, the oil patch shed 14 per cent of its workforce.
An oil drillers' industry group predicts more than 13,700 job losses between 2018 and 2020.
For Canadians this was a Climate Crisis Election,
Alberta’s total emissions,
And by that measure the province is doing terribly.
Its oil sands alone did more damage to the climate last year than the entire economy of B.C.,
And Alberta’s per capita carbon emissions of 62.4 tonnes dwarf those of
The U.S. (15.53 tonnes) or even Saudi Arabia (16.85 tonnes).
This is why
Canada was just ranked 51st out of 60 countries in the
2018 Climate Change Performance Index
Election Shows Canadians Aren't Joking About
Wanting Real Action On Climate Change
More than 63% of voters supported parties with substantial climate change platforms.
“Canada is truly divided now,”
For Alberta, Saskatchewan, it was 100% Pipeline
The election divided Alberta and Saskatchewan into Conservative majorities
Conservative's economic plan based on
Oil and the Tar Sands
The Conservative caucus grew from 95 to 121 thanks mainly to gains in B.C.,
For Alberta, Saskatchewan, it was 100% Pipeline
The election divided Alberta and Saskatchewan into Conservative majorities
Conservative's economic plan based on
Oil and the Tar Sands
The Conservative caucus grew from 95 to 121 thanks mainly to gains in B.C.,
Alberta, Saskatchewan, and New Brunswick.
But Andrew Scheer and his party lost support in the riding-rich Greater Toronto Area, and more widely across Ontario and Quebec.
Andrew Scheer: Big Oil's secret weapon
Asked about concerns over Trans Mountain pipeline's future due to minority govt,
Alberta Premier Jason Kenney says if the prime minister means what he said on election night about listening to the people of Alberta & Sask.,
The clearest way is to commit to pipeline's completion
Canadian producers want pipelines simply so they can capture the discount they currently lose on Canadian oil because their access is right now limited to only one export customer, the U.S.
But Andrew Scheer and his party lost support in the riding-rich Greater Toronto Area, and more widely across Ontario and Quebec.
Andrew Scheer: Big Oil's secret weapon
Asked about concerns over Trans Mountain pipeline's future due to minority govt,
Alberta Premier Jason Kenney says if the prime minister means what he said on election night about listening to the people of Alberta & Sask.,
The clearest way is to commit to pipeline's completion
Canadian producers want pipelines simply so they can capture the discount they currently lose on Canadian oil because their access is right now limited to only one export customer, the U.S.
The truth is
The Trans Mountain pipeline will only make Canadian producers problem worst
It would follow the existing secondary route from Sumas, B.C. into Washington state,
Taking Alberta oil to the three existing refineries in Cherry Point and Anacortes, Wash.
Canadian oil would still be held ransom to a single, monopsony buyer in the U.S. at a discounted price;
It will cost Canadians $10 to $15 billion to get the
Oil to the
Three U.S. refineries with no value added in Canada.
The campaign against Alberta oil is more about
American economic interests than protecting the environment.
“About $90 million over the last 10 years has gone towards various efforts to restrict oil and gas development and export
In an effort to land-lock Alberta oil so it cannot reach overseas markets, where it would attain a higher price per barrel.
for the most part, those who are most vocally against one ship a day serving
Canadian interests happen to be the branch-plant operations of powerful
American environmental organizations.
Those groups, and the various billionaire foundations, seem to believe they know better than Canadians do about what Canada's economic future should look like.
The truth is
The Kenney war room it is partially funded by foreign oil companies.
BC.Gasoline and Diesel Prices Inquiry said
The truth is
The Kenney war room it is partially funded by foreign oil companies.
BC.Gasoline and Diesel Prices Inquiry said
The Trans Mountain pipeline it had nothing to do with
It has everything to do with enriching
U.S-.based refineries with no value added in Canada.
That is exactly what they are doing
It's Bankruptcy in Canada and Incredibly Profitable in USA
“The Big Five”
Were performing relatively well
"incredibly profitable corporations,"
$13.5 billion last year.
“bankruptcy-for-profit”— and it’s
Prime Minister Justin Trudeau
Said the pipeline will be expanded
However, the Liberals still need to find $10 to $15 billion to build the pipeline.
It will create 2,500 temporary construction jobs over two years with 90 permanent jobs.
But instead of ending at the Vancouver terminus,
It would follow the existing secondary route from Sumas, B.C. into Washington state,
Taking Alberta oil to the aforementioned three existing refineries in
Cherry Point and Anacortes, Wash.
This will cost Canadians Billions
Why
For marine safety reasons,
Cherry Point and Anacortes, Wash.
This will cost Canadians Billions
Why
For marine safety reasons,
Of diluted bitumen amid concerns about spills.'
Burrard Inlet is an Aframax class ship at 80 per cent capacity
Carrying 550,000 barrels,
Only about one-quarter the load of a VLCC.
They can carry two million barrels at a time
Plus ULCCs are the largest tankers in the world and
They carry up to 4 million barrels of oil.
It cost 4 to 8 times more to ship oil from Vancouver to Asia
Refiner in Asia would have to book and pay for four to eight tankers
Where would that leave Canadian interests?
Whatever risk there is to the Pacific Coast would simply be moved 60 miles south and put under American control;
Whatever economic and environmental benefits
Canadian oil would still be held ransom to a single,
Monopsony buyer in the U.S. at a discounted price;
Those refineries are currently supplied by oil shipped down from the Alaska North Slope fields by boats that regularly transit B.C. waters.
Whatever risk there is to the Pacific Coast would simply be moved 60 miles south and put under American control;
Whatever economic and environmental benefits
Canadians might have enjoyed would be lost
Every planned drop of oil will still be produced;
Monopsony buyer in the U.S. at a discounted price;
Those refineries are currently supplied by oil shipped down from the Alaska North Slope fields by boats that regularly transit B.C. waters.
Production from that field is expected to decline by more than 150,000 barrels per day between now and 2026.
Oil tankers have been departing the Westridge marine terminal in Vancouver weekly since 1956.
Additionally, bulk tankers come from Alaska, down the west coast of Vancouver Island, through the Juan de Fuca strait, past Victoria and into oil refineries in
Cherry Point and Anacortes in Washington state
Kinder Morgan pipeline and you’re left with a deal that makes no business sense.
(The pipeline is 67 years old.)
Without so much as a basic cost-benefit analysis,
Spend C$4.5bn (US$3.45bn) Plus
To purchase
Kinder Morgan’s Trans Mountain Pipeline
The existing 300,000 barrel per day pipeline
$5 billion loan to support the government’s controversial purchase and operation of the
Trans Mountain pipeline a 67-year-old infrastructure
30 to 64 years
According to Kinder Morgan’s financial statements.
$1 billion,
It's all because Obama administration halted construction on
The remainder of the Keystone XL pipeline
A 800,000 barrels a day pipeline of crude to
Terminals on the Gulf Coast.
Arguing approval would compromise America’s effort to reduce its greenhouse gas emissions.
that the pipeline was essential for Canada’s future.
The Pipeline has everything to do with enriching
U.S-.based refineries with no value added in Canada.
“Virtually no exports go to any markets other than the U.S.,”
This Pipeline will only make Canada's problem worst
Oil will only go South to
U.S. refineries with no value added in Canada.
This is why
Alberta
The Five Big Canadian Companies
Together they now control almost
80 per cent of bitumen production
British Columbia
Control approximately 90 per cent of the
Market in Southern B.C.
Therefore, the wholesale gasoline and diesel market is an oligopoly.”
These companies control all 15 primary storage terminals in the province “and, along with
Federated Co-op Limited, control all the Bulk Terminals.
(Bulk terminals handle smaller volumes of fuel supplied by truck.)
The companies’ dominance makes it effectively impossible for competitors to enter the market, the report found.
“This oligopolistic wholesale market has the characteristics of a natural monopoly,”
In addition to oil.
Canada has many other valuable natural resources
Here are the world rankings of Canada's natural resources:
Potash, #1
Uranium, #2
Oil, deposit #3 (production #6)
Nickel, #4
Diamond, #5
Salt, #5
Zinc, #6
Gold, #9
Copper, #9
The Canadian budget makes it abundantly clear where its revenues come from
It's not from Canada's natural resources
It comes from you
The vast majority comes from you and your personal income taxes.
This is why our Resource-Rich Canadian Government is Always Poor
This is why our Resource-Rich Canadian Government is Always Poor
Today Canada is just teetering on the boundary
Today our Current Outstanding Public Debt of Canada is approximate:
697,735,366,381.26 CDN.
Believe it or not
Alberta
That the province tied royalty rates to the volatile price of oil.
Today Alberta
Will be $67 billion of debt by the time the
Alberta is on pace to be $96 billion in debt by 2024
This is a dramatics change in fortunes for a province
That celebrated being debt free 20 years earlier
PLUS
Canada Buys back the oil at Full Market Price
The Alberta government collected more
That it did in royalties from oil companies
Canada is now Number ONE in the world for Subsidies
In 2015, Barry Rogers of Edmonton-based Rogers Oil and Gas Consulting
Warned the government that low royalties for bitumen simply encouraged
U.S. refineries with no value added in Canada.
That is exactly what they are doing
It's Bankruptcy in Canada and Incredibly Profitable in USA
The growing discount has cost Alberta’s provincial treasury dearly
Canada’s non-renewable energy resources
Calgary Oil and Gas Execs want to keep it that way this is
Why
Canada oligopolistic wholesale market has the characteristics of a natural monopoly
Because of "Air Barrels"
Alberta is losing billions every year
To Fight “Air Barrels”
The government estimates Alberta is losing
$80 million a day due to this discount,
Alberta will never be able to stop “Air Barrels”
Instead of fixing the problems
Plus
“The Big Five”
Were performing relatively well
"incredibly profitable corporations,"
$13.5 billion last year.
It's Jobs over the Environment
For decades, the oil industry denied climate science or that global warming was caused by burning fossil fuels.
but are doing everything possible behind the scenes to ensure no action is taken, according to InfluenceMap. and everyone in Canada
This “soft” climate denialism appears to have been embraced by Scheer and the Tories.
Anyone close to industry knows the
Western Sedimentary Basin is virtually empty and conventional companies have been losing money since 2009,
Transferring low-producing wells to junior companies,
With growing numbers taking what they can and walking away
from clean-up obligations;
Again, our governments continue to turn a blind eye to the contractual clean-up obligations of the oil industry.
Government and its so-called “arms-length” regulators
(specifically the Alberta Energy Regulator)
have been captured by the industry and the
Orphan Well Association (OWA), largely controlled by the industry,
is now lost in a sea of insolvencies, begging for public money.
Ironically, this lack of foresight, integrity and political will have contributed to distrust and loss of confidence from investors.
Every Man,Woman and Child will be Stuck
With a $260 billion bill to clean up Alberta’s oil patch
Anyone close to industry knows the
Western Sedimentary Basin is virtually empty and conventional companies have been losing money since 2009,
Transferring low-producing wells to junior companies,
With growing numbers taking what they can and walking away
from clean-up obligations;
Again, our governments continue to turn a blind eye to the contractual clean-up obligations of the oil industry.
Government and its so-called “arms-length” regulators
(specifically the Alberta Energy Regulator)
have been captured by the industry and the
Orphan Well Association (OWA), largely controlled by the industry,
is now lost in a sea of insolvencies, begging for public money.
Ironically, this lack of foresight, integrity and political will have contributed to distrust and loss of confidence from investors.
Every Man,Woman and Child will be Stuck
With a $260 billion bill to clean up Alberta’s oil patch
The Alberta Tar Sands have been dubbed the largest
Industrial project in human history
The Cleanup bill is greater than the value
‘Hidden danger’:
The Supreme Court of Canada said
Owners must deal with old oil wells so
The governing Alberta NDP and the official Opposition
Told the provincial legislature Tuesday
Alberta’s oil patch isn’t an emergency now,
Because they now over 70 years to
Figure out how to clean up their tailings and reclaim the land.
The NDP and the United Conservative Party
Made the statements as they teamed up
To shut down emergency debate on the issue,
Proposed by Liberal MLA David Swann.
While Suncor’s mine will close down in 2033,
They have been granted until after 2100 to
Figure out how to clean up their tailings and reclaim the land.
The NDP. Government of Alberta
Suncor Energy Incorporated,
The oldest mining company in the Canadian tar sands.
By approving this plan,
Suncor will get an additional 70 years after their operations
Shut down to clean up the
60 years of oil extraction.
Canada's most shameful environmental secret
Figure out how to clean up their tailings and reclaim the land.
It could take nearly 300 years for the industry to abandon
All of its wells, let alone clean them up,
Oil and gas companies can receive certificates for site clean up
With the click of a button,
Canada was just ranked 51st out of 60 countries in the
Weighed down in large part by a certain oily elephant north of Edmonton.
“That’s catastrophic levels of change in a short period of time.”
This is making Canada the laughing stock of the world
This is not normal':
Canada subsidized the fossil fuel industry to the tune of almost $60 billion — approximately $1,650 per Canadian.
Today it will cost you to clean up
Alberta's oil patch? $260 billion
$200 billion more than has been publicly reported.
In 100 years only $1.2 billion has been invested in Clean up
Value of the entire oil and gas industry
“Canada wants to be a climate champion and"
Canada does not have the money to clean up the oil fields so
Canada is sweeping the problem under Water
Because there is shockingly poor regulatory oversight and lack of ambition on
Tailings management progress in Alberta,
Tailings Ponds are Worse Than Ever
This is the world's most destructive oil operation
Alberta policy unique in North America.
Companies have no deadlines to clean up abandoned wells.
Oil sands waste is collected in sprawling toxic ponds.
To clean them up, oil companies plan to pour water on them
and renowned freshwater scientist and officer of the
Order of Canada.
Two Alberta courts previously ruled that private creditors of bankrupt
Redwater Energy Corp.
Were first in line for liquidated assets,
Ahead of its obligation to pay for environmental cleanup.
This is the problem of taxpayers and Landowners.
The oil and gas companies aren’t setting aside the money to clean up
Their own Mess
Guess who is going to pay for it?
You guessed it: The rest of us so
In 1974 the Basel Committee was established by the central-bank
Governors of the Group of Ten countries of the member central banks of the
Bank for International Settlements (BIS), which included Canada.
“monetary and financial stability.”
To achieve that goal,
A nation’s own central bank interest-free
All in the name of “maintaining the stability of the currency.”
Our Current Outstanding Public Debt of Canada is approximate:
$629,572,079,450.28 CDN.
Rather than creating money through the Bank of Canada interest-free.
Canadian taxpayers have paid one trillion,
($1,100,000,000,000) in interest on the federal debt to private lenders.
This accumulated debt was monies borrowed to service the debt,
Essentially a payment of interest on interest
To understand how ridiculous the present situation is,
Consider the 1993 Auditor General of Canada report
This “subsidy” to the private lenders must end.
money from private lenders at interest and borrow from the
Bank of Canada at no interest.
The private banks should also be prevented from creating money.
That right should be returned to the People of Canada
Through the Bank of Canada.
This is one reason why Canada is the next Argentina
The Government and the Oil industry has good reason to be alarmed.
