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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (81219)	4/1/2020 8:47:53 AM
From: Goose94	Read Replies (1) of 202718

TransCanada (TRP-T) Western Canadian Select heavy oil priced around US$5 a barrel, and worldwide consumption of crude down by as much as 25 per cent, Jason Kenney's decision to put billions of public dollars on the line for the building the Keystone XL pipeline is the ultimate in countercyclical fiscal policy (all figures U.S.) North American price for oil is now about one-third of what the Alberta government pegged it at in its most recent budget. Alberta will borrow money to take a $1.1-billion ownership stake in the TC Energy pipeline, and will issue a $4.2-billion debt guarantee next year. Even Mr. Kenney, a near-constant energy booster, acknowledges there are risks, too. A new Democratic face in the White House come November might not support it. The investment doubles down on the province's economic reliance on its plentiful bitumen reserves at a time when, even pre-COVID-19, the world was not exactly clamouring for more heavy crude from Alberta. Politically, the optics of borrowing money to invest in a pipeline just days after announcing the layoff of thousands of Alberta teaching assistants, school secretaries and janitors are awful.

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