Majority of Western Canada’s crude oil exports to US not exposed to record high discount between WCS and WTI
“Chicken Little pronouncements from opposition politicians like Kenney don’t help a whit, especially his tweet calling for “economic nationalists” – a clear aping of Donald Trump and Steve Bannon populism that is roiling the United States – to “be storming the proverbial gates to demand coastal pipelines be built.”
The UCP leader can storm whatever gates he pleases and it won’t speed up consultations with BC indigenous communities or the NEB’s consideration of the environmental impacts of more West Coast oil tankers.”
Despite the court ruling which sided with environmental groups, TC’s schedule requires pre-construction activities to resume in Feb.
Landowners are supposed to get paid for wells on their property, but companies are increasingly defaulting, which means the Alberta government ends up picking up the tab. An investigation by The Narwhal reveals the province is almost never recouping these costs
“That guy’s gone broke I don’t know how many times,” he told The Narwhal. “[The regulator] still lets him start over again.”
“Financially unstable companies have long been able to obtain licences and to drill new wells through a flawed system liability rating system administered by the Alberta Energy Regulator — a system that allows companies to exaggerate their assets by assuming oil prices of more than $100 per barrel and underestimates the costs of safely sealing and cleaning up wells.”