July 17, 2017 – iPolitics
The party's over, oilsands. Time to call it a day, Trudeau.
By: Ross Belot
The oilsands have become, politically, the gift that keeps on taking. Prime Minister Justin Trudeau’s brand has been badly tarnished by his pro-pipeline stance even as evidence mounts that new pipeline capacity isn’t needed. Alberta Premier Rachel Notley continues to pretend pipelines will bring back the glory days for the province’s energy sector — even as crude prices languish in the mid $40s due to cheaper U.S. shale oil, and even as OPEC and Russia hold back their own production to shore up prices.
Headlines like this one don’t bode well for future investment: ‘Suncor wins favour by ignoring core business of oil sands’. RBN Energy also reported recently that the differential for Western Canadian Select between Cushing and Edmonton isn’t enough even to pay for the pipeline tariff, indicating surplus capacity headed in that direction must be being sold at a discount. Yet we’re still seeing headlines talking about growing production being transported by rail in future, with no reference to what is actually going on today.
Read the full article here: https://ipolitics.ca/2017/07/17/the-partys-over-oilsands-time-to-call-it-a-day-trudeau/