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Gold/Mining/Energy : Canadian Oil & Gas Companies
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To: axial who wrote (19670)7/22/2012 1:48:27 PM
From: teevee3 Recommendations  Read Replies (1) of 24928
 
The outgoing Quebec Senator said it doesn’t make sense for eastern provinces to be importing oil from countries like Algeria and Venezuela when there is excess supply in the west.

“It’s pretty crazy when you have such bountiful supplies of your own,” he said, embracing the argument that Canadian oil is more “ethical” than imported oil. “Why would we have all these ships coming in from Nigeria into the St. Lawrence river with crude oil when we’ve got so much of it in other places of the country?”

this is just politics to deflect the facts:

1. In response to a half century old Federal Gov't legislative mandate for oil refining in Canada, Companies like Exxon, Shell and Irving Oil trans ship through tax free havens, pocketing the margins, so oil from Africa, Middle East or Latin America crudes yield as little refining margin and tax as possible in Canada.

2. Even if Western crude travels east by pipeline, it will have to sell at a large enough discount to compete with tax free margins skimmed through off shore tax free corporations used by Irving, Exxon, Shell etc. when trans shipping foreign crude oil to Canada.

3. Drivers in Quebec and Ontario would prefer to send their money to dictators than to Western Canada because Canadian oil is "dirty oil".

4. Buying foreign crude weakens the canadian dollar, making it easier for Quebec and Ontario based manufacturers to sell their goods.
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