Monday, September 16, 2019

Gasoline and Diesel Prices Inquiry said


CANADA'S BIGGEST SECRET

Economic cheerleading by federal and provincial politicians and the mainstream media on behalf of the oil industry is doing the public a great disservice. 

When the party is over in the oil patch, 

Canadian taxpayers may find themselves doing the dishes

Today Canada is just teetering on the boundary

Canada's national debt today is hitting 90% of GDP


With a $260 billion bill to clean up Alberta’s oil patch

If this does not change Canada will be the next Venezuela 

Contrary to claims made by

 Prime Minister Justin Trudeau and Alberta politicians, 

The commission found the volume of refined products moving on


The Trans Mountain pipeline has no effect on prices only profits 

Economist Robyn Allan told DeSmog Canada. 

Because of "Air Barrels"

“Virtually no exports go to any markets other than the U.S.,” 

Most of it at a very steep discount.

Set aside the political argument for buying the 

Kinder Morgan pipeline and you’re left with a deal that makes no business sense.

(The pipeline is 67 years old.)

Without so much as a basic cost-benefit analysis,
Taxpayers paid $4.5 billion for 67-year-old infrastructure

Kinder Morgan estimates the useful life of its pipelines at
30 to 64 years

Kinder Morgan pipeline is not worth much more than
$1 billion, according to
 Kinder Morgan’s financial statements.

Prime Minister Justin Trudeau’s repeated claims 

that the pipeline was essential for Canada’s future. 

Declaring the Trans Mountain pipeline was a matter of national interest

BC.Gasoline and Diesel Prices Inquiry said

The Trans Mountain pipe line has nothing to do with
Asian markets 

It has everything to do with enriching U.S.-based refineries.

96% of Canada’s oil exports go to the U.S.

It was the loss of the Keystone XL pipeline to the Gulf Coast

A 800,000 barrels a day pipe line

This is the reason why

Prime Minister Justin Trudeau
 Spend C$4.5bn (US$3.45bn) Plus
To purchase


Kinder Morgan’s Trans Mountain Pipeline


 not worth much more than $1 billion, 

When no other private investors would stepped up to take on the risk. 



This is why

96% of Canada’s oil exports go to the U.S.

After years of study and delay, 


The decade-long saga over the Keystone XL pipeline, which would stretch nearly 1,200 miles from Hardisty, Alberta, to Steele City, Neb., has been full of legal twists.

The Keystone XL, was first proposed in 2008 under

President George W. Bush, would begin in Alberta and go to Nebraska, where it would join with an existing pipeline to shuttle more than 800,000 barrels a day of crude to terminals on the Gulf Coast.

Envisioned in 2008 as a way to connect Canada’s oil sands fields with Gulf Coast refineries, the project has died and been resurrected more than once.

In 2015, on the eve of the international climate talks in Paris,

The Obama administration announced it was halting construction on the remainder of the Keystone XL pipeline, arguing approval would compromise America’s effort to reduce its greenhouse gas emissions.

Thank you Donald Trump  

Trans Mountain pipeline can now sit in the courts forever

Because

Canada now has a 800,000 barrels a day pipe line of crude to terminals on the Gulf Coast

Donald Trump issues new permit for Keystone pipeline

Trump reversed Obama decision soon after taking office in 2017, saying the $8-billion project would boost
American energy and create jobs. 

A presidential permit is needed because the project crosses a U.S. border.

The world ranking of Canada's Oil 

Deposit #3 (production #6)

Canada subsidized the fossil fuel industry to the tune of almost $60 billion — approximately $1,650 per Canadian. 

Still Canadians are paying some of highest gas prices in the world

 Calgary Oil and Gas Execs want to keep it that way

They're Backing Scheer


Canada can have 100 pipelines 

It would have no effect on prices only profits

This is why

Alberta

The Five Big Canadian Companies


 Together they now control almost 

80 per cent of bitumen production

British Columbia


 Control approximately 90 per cent of the 

Market in Southern B.C. 

Therefore, the wholesale gasoline and diesel market is an oligopoly.”

These companies control all 15 primary storage terminals in the province “and, along with 

Federated Co-op Limited, control all the Bulk Terminals.

 (Bulk terminals handle smaller volumes of fuel supplied by truck.)

The companies’ dominance makes it effectively impossible for competitors to enter the market, the report found.

 “This oligopolistic wholesale market has the characteristics of a natural monopoly,” it said.

Contrary to claims made by Alberta politicians, the commission found the volume of refined products moving on 

The Trans Mountain pipeline had no effect on prices just profits 

And it noted the higher relative prices continued even as demand declined after peaking in 2016. 

The demand decline is expected to continue.

The B.C. Utilities Commission’s recent report on gas prices confirms consumers are paying 

$500 million a year too much for gasoline, Plus

Canada subsidized the fossil fuel industry to the tune of almost $60 billion — approximately $1,650 per Canadian.

Today it will cost you to clean up

Alberta's oil patch? $260 billion

$200 billion more than has been publicly reported.  

In 100 years only $1.2 billion has been invested in Clean up

The Cleanup bill is greater than the

Value of the entire oil and gas industry

“Canada wants to be a climate champion and"

Canada does not have the money to clean up the oil fields so 

Canada is sweeping the problem under Water

Because there is shockingly poor regulatory oversight and lack of ambition on 
Tailings management progress in Alberta,

 Tailings Ponds are Worse Than Ever

National Geographic said

This is the world's most destructive oil operation

And It's growing 

This is due to an 

Companies have no deadlines to clean up abandoned wells.

Oil sands waste is collected in sprawling toxic ponds.

To clean them up, oil companies plan to pour water on them

“It’s biologically and chemically an impossible fantasy,” said

David Schindler, a former University of Alberta professor
 and renowned freshwater scientist and officer of the
 Order of Canada. Said 

Water capping will return land to a natural state is a  “impossible fantasy.”

Two Alberta courts previously ruled that private creditors of bankrupt Redwater Energy Corp.

Were first in line for liquidated assets, 

Ahead of its obligation to pay for environmental cleanup. 

This is the problem of taxpayers and Landowners.

And if oil and gas companies aren’t setting aside the money to clean up


 Their own mess, just who is going to pay for it?  

You guessed it: The rest of us

Why 

More than two-thirds or 71% of the ownership of oil sands production in

Canada is now owned by foreign entities 

Foreign Investors they do not live here so

They do not care about Canada's environment

They only care about their bottom line 

 Bank of Canada just listed climate change as a threat to the Canadian economy

In this Climate Crisis Election, 

Who Dares Name Big Oil the Enemy?

“That’s 7 degrees in Canada,”referring to the fact we’re warming at two times the rate of the rest of the world. 

“That’s catastrophic levels of change in a short period of time.”

This is making Canada the laughing stock of the world

The Inquiry said 

The only way to stop price gouging is

 "By intervening and regulating,” 

“Without that change," 

Consumers will continue to be exploited in this market.”

Without that change Canada will be the next Venezuela 

Alberta, produces 2.5 million barrels of oil per day 


‘ Alberta is essentially giving oil away for free’ 


 Canada Buys back the oil at Full Market Price


54 per cent – of all Canadian oil imports come from the USA

More than two-thirds or 71% of the ownership of 

Oil sands production in

Canada is now owned by foreign entities 

Because most of the benefits go to the big businesses instead of the government.

The Government of Canada

Borrows much of the monies to cover its shortfalls

From the private sector 

The Cost of Government Debt in Canada, 

To understand how ridiculous this present situation is,

Consider the Auditor General of Canada report

which states

That this is insane, This has to end

Can you really blame Albertans for being pissed? 

The $30 billion exodus:

 Foreign oil firms are bailing on Canada

Rachel Notley is telling the truth ,

Alberta’s oil and gas companies have figured out how to pull off  


Rachel Notley said because of "Air Barrels" 


Alberta is losing billions every year 


To Fight “Air Barrels”  

As Prices Continue To Plunge

The government estimates Alberta is losing

$80 million a day due to this discount,

Industry manipulates the current system.

Alberta will never be able to stop “Air Barrels”

Instead of fixing the problems

Canada allows big players to continue to scam the system,

Prime Minister Justin Trudeau gives the oil sector $1.6B boost

Oil went from portfolio stalwart to portfolio destroyer 

The world ranking of Canada's Oil  

Deposit #3 (production #6)

Canadian oil sands bitumen have fallen so far that many producers

 Because Alberta oil is sold for pennies on the dollar we are 

‘Essentially giving our oil away for free’ 

Oil giants pay billions less tax in Canada than abroad 

WHERE DOES YOUR GAS COME FROM

Canada imports 759,000 barrels of oil per day at full market price

Rachel Notley said this is killing Canada

Most of the benefits go to Foreign Entities 


And five big Canadian companies  


A common misunderstanding about
Canada’s oil and gas industry 


Is that all the Companies that belong to it 


Face the same pressures to their business models from volatile oil prices and climate regulations. 


The reality is much more nuanced. 


When Hussey explored how the industry was affected by the


 2014 oil price downturn for the Corporate Mapping Project, 


He was surprised to learn that

The Five Big Canadian Companies


  Suncor, CNRL, Cenovus, Husky and Imperial 


 Together they now control almost 


80 per cent of bitumen production

By studying publicly available records, 

He and his research team discovered that 


“The Big Five” 


Were performing relatively well 


"incredibly profitable corporations," 

Banking and paying out to shareholders

 $13.5 billion last year.

Even as tens of thousands of Albertans lost their jobs and smaller companies filed for bankruptcy


Suncor for instance had a net profit rate above

 13.5 per cent in 2017 

The Truth is 

Alberta, 

The royalties for oil sand production 

Goes down every year 


“Canada’s non-renewable energy resources 


It's because most of the benefits go to the big businesses instead of the government.

Plus more than two-thirds or 71% of the ownership of oil sands production in

Canada is now owned by foreign entities 

Foreign Investors they do not live here so


They do not care about Canada's environment

They only care about their bottom line today

Paris Agreement obligations for the year 2050.

Today the Alberta Tar Sands have been dubbed the largest

And most destructive   

 Industrial project in human history

In 100 years only $1.2 billion has been invested in Clean up

Today it will cost you to clean up

Alberta's oil patch? $260 billion

$200 billion more than has been publicly reported.  

Even as Canada promotes action on climate change on the world stage,

 Canada does not have the money to clean up the oil fields 

The Cleanup bill is greater than the

Value of the entire oil and gas industry and

The oil sands industry's heavy environmental toll has prompted other investors to walk away. 


Why is our export credit agency bankrolling its rapid expansion


Fuelling the oil sands


How Big Are Canada’s Oil Sands?

We had 100 years of Alberta oil

Today our Current Outstanding Public Debt of Canada is approximate:

$629,572,079,450.28 CDN.

The Cost of Government Debt in Canada, 2017

Believe it or not

Alberta

Will be $71 billion of debt by the time the

NDP face voters in 2019

Alberta is on pace to be $96 billion in debt by 2024

Manitoba Hydro's burgeoning debt surpasses $19 billion

This is a dramatics change in fortunes for a province

That celebrated being debt free 20 years earlier


This is making Canada the laughing stock of the world

Justin Trudeau’s Killed Energy East Pipeline

Justin Trudeau’s Family Fortune Was Made With Oil Money in Eastern Canada

Twice now we have voted in a Trudeau

Every time we vote in a Trudeau everyone in Canada Cries

Rachel Notley was telling the truth this is killing Canada

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