Here’s a question: why doesn’t Alberta invest in a refinery or two? Instead of extracting oil and selling it internationally, they could extract it, refine it, and sell it in-country.

[–] TheBloodFarts@lemmy.ca 11 points 4 days ago

Or literally anything else. Moron leadership for decades squandering an inherently finite resource rather than reinvesting the revenue and helping the province prosper indefinitely

[–] tleb@lemmy.ca 3 points 4 days ago (1 children)

For the exact same reason a pipeline will never be built... O&G is on the decline so these 5-10 year projects simply won't make enough money to justify it.

[–] adespoton@lemmy.ca 4 points 4 days ago

That’s what people said before the last pipeline was built through BC. The federal government bailed it out and it got built anyway.

[–] grte@lemmy.ca 15 points 4 days ago* (last edited 4 days ago) (3 children)

You'll notice there's a premier missing who's province is going to have to be involved in this. Also, how do you all feel about selling off our ports and airports to buy Danielle Smith another pipeline? Because,

There is no private sector proponent or route for a possible pipeline. The Alberta government says it will act as the project's proponent in submitting the proposal to the federal government's major projects office.

that "Sovereign Wealth Fund" will definitely be financing this.

[–] No_Eponym@lemmy.ca 6 points 3 days ago

Convinced if someone does a Scooby-Doo mask pull on Carny, it will have been Stephan Harper all along.

[–] Slowy@lemmy.world 5 points 4 days ago (1 children)

Does that mean it will be like a crown owned pipeline? Not that privatizing ports is worth a provincial pipeline but that would be an interesting outcome.

[–] grte@lemmy.ca 2 points 4 days ago* (last edited 2 days ago) (1 children)

Potentially, depending on how they choose to finance it. The Trans Mountain pipeline is fully government owned through a crown corp, they could do something similar. Or they could go with a P3 model where they use government funds to make investment more attractive to a private corporation resulting in a privately owned pipeline or shared ownership depending on the specifics of the agreement.

[–] johnefrancis@lemmy.ca 8 points 4 days ago

it will be a public funded, money-losing pipeline that subsidizes the profits of the foreign companies that extract 70% of Alberta oil.

Just like TMX.

[–] ValueSubtracted@startrek.website 2 points 4 days ago

A private backer was a requirement in the original MoU, and I can't tell from the article whether that's still the case.

If so, the whole thing may well be a non-starter.

[–] DriftingLynx@lemmy.ca 9 points 3 days ago

Blithely ignorant wishful thinking 🙄

I guarantee taxpayers will be footing the bill just like the last one.

[–] piskertariot@lemmy.world 6 points 4 days ago (2 children)

The world is on fire from the rich profiting off oil money.

For 20 years Canada has shy'ed away from burning ours, hoping that the world would come to its senses.

Now it seems that the mostly likely outcome of having saved all of our resources, is powerful countries trying to take them. Fuck it, the world is on fire anyway.

[–] DriftingLynx@lemmy.ca 5 points 3 days ago

"shy'd away from burning ours" 🤨

What country at record levels of oil extraction are you living in?

[–] HumanOnEarth@lemmy.ca 2 points 4 days ago

Goddamn spot on.

[–] T00l_shed@lemmy.world 1 points 4 days ago

Unfortunate