New Anti-TMX Strategy: Remove Pipeline Insurance Coverage

August 12, 2019 Leave a comment

First they said all the whales were going to die because of oil tankers, but then we looked at the marine traffic data and saw the increased tanker traffic was irrelevant compared to the total traffic (from ferries and other tankers and transports). 
 
Then they tried to tell us that Alberta oil was entirely uneconomic, that Asia didn’t want it, and oil companies would wind up with all these “stranded assets” because by golly any day now the world is going to stop using oil altogether. Of course, the idea of eco-radicals providing investment advice to protect oil producers from themselves is laughable.
 
Now they’re saying the TMX is just plain uninsurable, so the insurance companies would be making a bad financial decision to insure it. These people are idiots. The insurance industry is not going to abandon a Crown corp whale of a client for the sake of these morons’ and their ignorant opinions. 
— Read more at the Calgary Herald —
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Filed under Alberta, CMR, Environment, Oil, Oil Sands Tagged with , , ,

Elizabeth May’s National Energy Program

May 29, 2019 Leave a comment

Green Party calls for Canada to stop using foreign oil — and rely on Alberta’s instead.

This is actually just the 21st century version of Trudeau Sr.’s “National Energy Plan.”

You may recall that one key objective of the NEP was “ultimate independence from the world market.”

There is nothing wrong with buying foreign oil per se.

The problem is that Ottawa’s bungled energy policy and interventions have created economic advantages for foreign oil and economic disadvantages for Canada’s oil. Canada would be a much more competitive producer than it is now but for Ottawa’s foolishness.

If you read the article and think about the totality of what the Green leader is proposing, it’s hard not to think “NEP.” She would block foreign oil imports and simultaneously cripple Alberta oil production. The only result would be major impoverishment.

Filed under CMR, Energy, Environment, Oil Tagged with , , ,

Notley Will Buy Trans Mountain Pipeline from Kinder Morgan?

April 10, 2018 Leave a comment

Notley’s stupid schemes just keep getting dumber and dumber…

Not only because Alberta’s treasury is empty…

But for anyone who thinks big pipelines are scary now, wait until the government owns them!

If Kinder Morgan can’t build the pipeline why should the Alberta taxpayer bail them out? Does that not simply put the taxpayer on the hook for major financial damage if Trans Notley Pipeline wallows in limbo forever?

The opposition facing Trans Mountain doesn’t go away if Notley buys the pipeline or loans them money.

What an outrageously bad idea.

Rather than half-baked schemes like buying the pipeline or banning BC wine imports through the provincial wholesale monopoly, perhaps Notley should turn her sights on Ottawa and ask why the province pays nearly $30 billion more into confederation than we get back each year when Ottawa and other provinces are blocking market access for one of our most important products?

 

 

Filed under Alberta, British Columbia, CMR, Energy, Oil Tagged with , , , ,

Worried about Oil Spills?

March 1, 2018 1 Comment

It’s becoming less and less of a problem as the years go by.

tankers

Filed under CMR, Environment, Oil Tagged with , , , ,

Ottawa Introduces “National Energy Program: The Sequel”

October 3, 2016 Leave a comment

Trudeau’s carbon tax.

Filed under CMR, Energy, Oil, Ottawa, Taxation Tagged with , , , , , ,

How Much Do We Subsidize Fossil Fuels?

September 21, 2016 Leave a comment

Some people have a confused idea of what counts as a subsidy.

In the minds of anti-oil radicals, not collecting more taxes from fossil fuel producers and consumers is a subsidy to fossil fuels.

That’s like saying the government subsidizes you unless it taxes 100% of your income.

David Yager writes:

The notion that Canadian governments in some way subsidize the cost of the final product to consumers – as per the dictionary definition – is preposterous. According to PetroCanada the taxes on a liter of gasoline in Canada in 2015 above and beyond the cost of petroleum, refining and distribution included a federal excise tax of $0.10 per liter, GST/HST ranging from 5% to 15%, a $0.667 per liter carbon tax in B.C., and provincial fuels taxes ranging from $0.13 to $0.192 per liter. Similar direct fuel cost levies exist for diesel fuel. These can total 25% or more of the total cost or more depending on crude prices and where you live. It is estimated these fuel levies provide Ottawa and the provinces with $15 billion annually. This is on top of another $18 billion oil and gas producers paid to all levels of government in 2014 in the form of property taxes, income taxes, payroll taxes and producing royalties.

Some subsidy.

— Read more at EnergyNow —

Filed under CMR, Energy, Oil, Taxation

Future Alberta Will Be Different

September 1, 2016 Leave a comment

The Alberta Advantage is gone, says David Yager.

Rising oil prices will help. And they will surely rise. It’s just nobody knows when, why and how much. But even if WTI returned to US$100 a barrel next year Alberta still won’t the same because every other oil producing jurisdiction will enjoy the same benefit but without Alberta’s new tax increases, carbon taxes, investment concerns, government policy uncertainty and the continuing lack of low-cost international market access through additional pipelines.

— Read more at Energy Now —

Filed under Alberta, CMR, Oil Tagged with , ,

AIMCo Invests Alberta Tax Money in American Pipeline Companies

August 22, 2016 Leave a comment

Today AIMCo announced that it is investing $500 million in an American company called Howard Energy Partners.

AIMCo is an Alberta crown corporation that manages money for government pensions and endowments. They have $90 billion under management. Virtually all of that money is derived from taxation.

What does Howard Energy Partners do?

Howard Energy Partners is an independent midstream energy company, owning and operating natural gas gathering and transportation pipelines, …

Alberta can’t get pipelines, in part because it is viciously opposed by US-backed opponents.

Meanwhile, the US continues building pipelines — lots of pipelines — and even has the pleasure of getting Alberta taxpayer money invested in its own pipeline companies.

Filed under Alberta, CMR, International, Oil, Oil Sands Tagged with ,

150+ years of inflation-adjusted oil prices.

February 1, 2016 Leave a comment

The average is about $47 in real terms.

oil

What does this tell us? Well, not much, except it’s the $100-ish prices that were more of an anomaly than the recent price situation.

— Thanks to David Stockman —

Filed under CMR, Oil Tagged with , ,

“Environmental activism is becoming a new form of protectionism.”

January 12, 2016 2 Comments

This is worth reading:

An article from summer 2014 that explores how U.S. interests fund anti-oil environmentalist radicals to selectively target Canadian oil production as a roundabout protectionist strategy.

The Tar Sands Campaign pointedly ignores the dozens of tankers bringing foreign oil into the United States and Eastern Canada on a daily basis. Evidently, the only tankers this campaign opposes are those that would break the U.S. market’s monopoly on Canadian oil exports.

…

But in North Dakota and Texas where oil production is booming, there is no multimillion-dollar campaign to stop or slow down the oil industry. As far as I can tell, the only country where there is a systematic, multimillion-dollar, foreign-funded campaign to choke the oil industry is Canada.

Whether intentional or not, environmental activism is becoming a new form of protectionism. By exaggerating risks and impacts, activists exert such political and social pressure that major infrastructure projects can be stalled or stopped altogether, land-locking Canadian oil and gas and keeping Canada over a barrel.

— Read more at Alberta Oil Magazine —

Filed under Alberta, CMR, Energy, Environment, Oil, Oil Sands, Trade Tagged with , , , ,

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