Hot Topic Thursday – Straight from the Liberal playbook – have it both ways!

Canadian companies continue to take the hit

In the meantime, the lack of access to global markets has clearly taken it’s toll on Alberta oil prices, with Canadian heavy oil trading at a US$24.50 per barrel discount to the benchmark West Texas Intermediate price as of  Thursday morning.

I’ve demanded that Media sites like CBC and BNN start putting more emphasis on the price difference between Canadian prices, and WTI. I think we’re making some progress there!

Here’s the Reality of the situation — it’s not pretty

I honestly believe the Trudeau playbook is to claim they support Kinder Morgan. (Which JT, Jim Carr, and Catherine McKenna have ALL come out and said!) Then continue to let BC play hold-up and stall until KM loses enough money they take their ball and go home!

Trudeau gets the benefit of the doubt in Alberta. He gets to take credit for no pipeline in Vancouver instead of being heckled in Nanaimo. For the Rest of Canada… well, business as usual.

The ‘ole switcheroo!

Canadian Oil companies need to be more vocal, we’re starting to see it now, finally!

Meanwhile, after being beat up on the Global market, Canadian Oil companies are finally starting to step up and speak the truth.

Alberta is hurting, and Canada shouldn’t be turning it’s back on us.

Cenovus becomes critical of transportation options

Cenovus Chief Executive Officer Alex Pourbaix said his company is having to take action in a press release issued this week:

“We’re taking steps to respond to a critical shortage of export pipeline capacity in Western Canada that is beyond our control and is having a negative impact on our industry and the broader Canadian economy,”

“These transportation challenges faced by our industry clearly demonstrate the urgent need for approved pipeline projects in Canada to proceed as soon as possible.” said Pourbaix.

It should be clear to everyone by now that the Alberta industry is getting beaten up domestically. While companies like Bombardier reap the benefits of a government that seems to see them as to-big-to-fail I suppose..

Alberta NDP’s are spiking the football already

Alberta Premier Rachel Notley is continuing to be vocal about the need to get Canadian oil to tidewater, specifically via Kinder Morgan Canada’s controversial Trans Mountain expansion project.

I think it’s a little too early for her to be celebrating, but such is politics, I guess.

Canadian companies continue to take the hit

In the meantime, the lack of access to global markets has clearly taken it’s toll on Alberta oil prices. Canadian heavy oil trading at a US$24.50 per barrel discount to the benchmark West Texas Intermediate price as of  Thursday morning.

I’ve demanded that Media sites like CBC and BNN start putting more emphasis on the price difference between Canadian prices, and WTI. I think we’re making some progress there!

Majority of Canadians SUPPORT the pipeline

Most Canadians understand the need for global market reach, it helps CANADIAN companies succeed.

But, in typical political fashion, expect the Trudeau government to remain IN SUPPORT. Whatever that means. At the same time doing very little, and then selling the public on WHATEVER side they want!

Hot Topic Thursday, folks!

Cheers.

Kelly Hall

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