US Refiners Steal $100 Million A Day From Canadian Producers With Discount

[Economy 52,861]

https://www.google.ca/amp/s/www.cbc.ca/amp/1.4865198

 

Canada's Oil Industry is loosing $100 Million a day now or a total of $36.5 Billion a year due to the huge discounts due to pipeline bottlenecks forcing Canadian Oil Companies to take what they can get

 

In the meantime US refineries that process Oil Sands Oil are making a killing with huge profit margins as they get to sell refined products at full international prices

[Economy 52,861]

@Luc @Woolfsmck I actually find this Infuriating. I get that the world slowly wants to shift greener but why does my Country have to take all the punch? No other major oil producers is allowing protestors and green activists to create such a hostile environment for the oil industry that the lack of infrastructure makes the resource completely worthless

 

Every Oil producer in the world is benefiting from Oil Rally accept us. This is an insane amount of money to loose every day

 

After November the $50/barrel discounts are expected to narrow a little as refinery maintenance ends but even before they shut down the discount was still $40/barrel ughhh

 

To think we could have an almost balanced budget if it wasn't for this. 

 

We usually collect several Billion a year from oil companies in tax revenue and now we collect basically nothing because they are all in the red

 

At least all 3 pipelines finally seem to be about to get built after almost a decade of non-stop delays for all of them

 

Transmountain was brought to court 14 times by 1 municipality alone like wtf I don't think OPEC or Russia would tolerate this and this is why they don't have this issue we do now