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Canadians’ US$38-million-a-day gift to Americans – Troy Media
by ahnationtalk onJuly 17, 201793 Views
Failure to build pipelines leaves us with no choice but to sell our oil to the U.S. at cheap prices, leaving it to sell its own oil at the international price
VICTORIA, B.C., July 17, 2017 — President Donald Thimp has said Canada’s energy exports are unfair to the U.S. He’s clearly oblivious that we’ve given Americans the biggest trade gift ever to flow from one country to another because of our self-inflicted inability to access offshore markets with Canadian oil.
After almost a decade and more than $1 billion spent on planning and regulatory filings, five major oil-export pipelines remain unbuilt, leaving us with no choice but to sell otu. oil to U.S. buyers at below world prices. Depending on the world price and other factors, the resulting captive-market discount has been as much as USSio per barrel on the 3.8-million barrels per day exported to the U.S. That amounts to a US$38-million daily gift to Americans, who then export their oil at full international market price.