Well now…
With the addition of this big pipeline we have from Canada, others can
drill baby drill and flood our market on the cheap.
What was it I use to say… OH… I still am….
be careful what you wish for.
And the fact is the US has the majority of refineries that can handle this thick oil from Canada.
Look at all those jobs created after the pipeline was done… minus 85% over traditional transportation methods.
Those are a loss for as long as that pipe runs. And subsequent supporting jobs.
Someone should be proud of themselves. And rich.
They can now afford to crank out that oil at a 30% less margin and when the prices drop below what we will drill for, it will still be flowing.
And just remember that eminent domain was used to aquire the land of US citizens by a Canadian oil co.
https://oilprice.com/Energy/Crude-Oi…l-Exports.html
When the expanded Trans Mountain pipeline came online earlier this year, some media reported U.S. refiners should start worrying about the supply of Canadian crude. With a bigger TMX, Canada could now export overseas. Yet now, with a pro-oil administration coming in, Canada’s top oil-producing province is looking south again.