Posted on 06/10/2021 6:35:57 AM PDT by jerod
Canada’s TC Energy Corp. TRP 0.59% and the Albertan provincial government said Wednesday they would scuttle the Keystone XL oil pipeline project, bringing to an end a years long controversy over an effort to pipe more Canadian crude to the U.S.
The decision had been expected after President Biden used his first day in office to revoke a key permit for the pipeline to cross the country’s northern border, shutting down construction.
It marks a historic victory for environmentalists who for a decade have made Keystone XL the focus of a campaign to block new pipeline construction as a way to limit oil consumption that contributes to global warming.
TC Energy gave little explanation for its final decision in a Wednesday news release. It alluded to Mr. Biden’s decision and said it had completed a comprehensive review of its options before making the final decision to terminate the project. It said that going forward it would build its businesses in shipping and storing natural gas, liquid fuels and power to meet growing North American demand for cleaner fuels...
(Excerpt) Read more at wsj.com ...
Alberta certainly doesn’t benefit. Trueshit ended a pipeline that would have out our oil on the world market, instead of being forced to sell to the US market at a huge discount.
If Alberta had a pipeline, it could be worth building a refinery for export.
Way to go. Now we will just ship the oil and gas via truck and rail at a much higher risk and environmental impact.
For liberals, I hope you choke on it.
What pipeline did Truedope end?
The one going west to the BC coast or the upgrade to the existing one going to Vancouver?
I think the Canadian National - Kansas City Southern railroad acquisition had more to do with this decision than a lot of people may realize.
Oil is fungible, they were gonna get it anyway. That was part of the point of the pipeline, to lead to exports of products to Asia for higher buyers.
Xi: Wow Biden Joe, you are really worth what we pay you!
Who bought the railroad?
What is the backstory there?
Democrat Biden’s first day on the job kills 10,000 jobs more red ink ordered.
Dem reasoning is why have one pipeline when you can have 20 Solyndras for the same price
Take a look at the map below and note the red lines north and east of Edmonton, Alberta. That's the tar sands region up around Fort McMurray. This merger means CN can transport unit trains of crude oil into the U.S. from not only Canada, but from Mexico as well.
Thanks.
I googled Canadian National, and was surprised to see that Bill Gates owns 10% (The largest shareholder).
His buddy Warren Buffet also owns big stakes in railroads that ship a lot of petroleum products, and compete with pipelines to do so.
There is probably a good investment case (profit margin) that can be carved out, by playing those cards right.
rail at a much higher risk and environmental impact.//
Exactly
creating a problem ,
next derailment and oil spill ,
to be used as a reason to ditch fossil fuels
and demand all rail locomotives go to solar and wind power by 2035.
You know man , the thing, progress.
rail at a much higher risk and environmental impact.//
Exactly
creating a problem ,
next derailment and oil spill ,
to be used as a reason to
ditch ( our) fossil fuels
and demand all rail locomotives
go to solar and wind power by 2035.
(No? why not?, fossil fuel trains bad I thought.
Oh, they aren’t against all fossil fuels
and machines that run on it, just ours ?)
You know man , the thing, progress.
\
Electric rail is well used nearly everywhere else in the world. The French run the world’s fastest trains the TGV at nearly 300 mph via 25,000 volts AC to the pantograph those trains push 15,000 horsepower triple what a freighter would draw. Oh and France gets 75% plus of its power from nuclear reactors so those trains are literally nuclear powered. It’s long past time for America to electrify our rail network lay high speed corridors along the coast’s and up the middle from Mexico to Canada have them meet up in Denver or St Louis. Anyone who has traveled by train in the EU, Japan or China is absolutely appalled how bad the US rail system is. Trains can move a ton of freight over 400 miles on one gal of diesel which is 36 kilowatt hours of energy. Electric motors are second law machines and 90% plus efficient diesels top out at 48% and only in large ships , rail diesels are 40% or less. So 18kWh of electricity moves a ton of freight the same 400+ miles it is bar none the most efficient means to move tonnage over land trucks cannot even touch it at 6 mpg moving 40 tons is only 6.6 tonne miles per gallon appealing wasteful compared to rail.
Couple thousand words to avoid a crucial point,,,
And where prey tell does the electricity to run the electric rail come from ?
Spoiler alert and clue
Fossil fuels.
Go ahead and try to run those electric rail lines on solar and wind when it’s dark and there’s no wind.
Just saying,,
Everyday energized batteries aren’t going to cut it
/-)
The Conservatives provided this breakdown of major energy projects that have been cancelled since the Liberals took office in 2015:
Energy East: $15.1 billion
Pacific Northwest LNG: $35 billion
Northern Gateway: $7.9 billion
Aurora LNG: $28 billion
Grassy Point LNG: $15 billion
He cost Alberta about $300 billion in revenue and he increased the amount of Equalization that Alberta must pay between 2015 and 2023 by about $100 billion. In 2018, he declined to review Equalization, even though he knew full well that Alberta’s economic situation changed since the last round of evaluations.
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