Quote:
Originally Posted by YOWetal
Even if the most pessimistic predictions are correct it doesn't make that much difference. If we get out of the way and let investment flow to oil sands the pipeline will be full as it's front loaded capital expenditure and not expensive to actually produce oil $15-30 a barrel. So if private companies are stupid we get the huge economic boost from the investment the jobs and the less substantial but still significant jobs and revenue even from a cheap oil world.
The truth is the climate change folks don't believe this spin or they wouldn't be trying to keep the oil in the ground artificially.
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I don't think private investors are stupid. We should not expect massive green field expansions in the oil sands. Small incremental expansions perhaps.
I think that is ok.
The pipeline to Ontario should be about "national security" ensuring that Ontario/Quebec supply is still secure as they transition off oil over the coming decades. If we can keep the existing pipeline through the US open, that is a bonus.
Climate change is obviously real. That is hard to deny. I think most people accept that. The issue is what to do about it. What Carney admitted to a few days ago is Canada was trying to transition far to quickly and it was damaging the economy. We still need to transition but much more slowly. During that transition period was going to continue to expand oil sales.
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