Louisiana Light • 2 days | 115.0 | +2.27 | +2.01% | |||
Bonny Light • 21 hours | 122.0 | +1.50 | +1.24% | |||
Opec Basket • 2 days | 117.6 | +2.67 | +2.32% | |||
Mars US • 1 min | 103.6 | -2.58 | -2.43% | |||
Gasoline • 3 hours | 3.746 | -0.081 | -2.12% |
Bonny Light • 21 hours | 122.0 | +1.50 | +1.24% | |||
Girassol • 21 hours | 121.0 | +1.74 | +1.46% | |||
Opec Basket • 2 days | 117.6 | +2.67 | +2.32% |
Peace Sour • 20 hours | 107.2 | +2.19 | +2.09% | |||
Light Sour Blend • 20 hours | 109.3 | +2.19 | +2.04% | |||
Syncrude Sweet Premium • 20 hours | 112.9 | +2.19 | +1.98% | |||
Central Alberta • 20 hours | 107.5 | +2.19 | +2.08% |
Eagle Ford • 21 hours | 108.8 | -1.98 | -1.79% | |||
Oklahoma Sweet • 21 hours | 106.3 | -2.00 | -1.85% | |||
Kansas Common • 2 days | 102.0 | +2.25 | +2.26% | |||
Buena Vista • 2 days | 120.5 | +2.49 | +2.11% |
The Biden administration and the…
Goldman Sachs continues to be…
Julianne Geiger
Julianne Geiger is a veteran editor, writer and researcher for Oilprice.com, and a member of the Creative Professionals Networking Group.
A new report by the Conference Board of Canada, and funded by the Canadian LNG Alliance, determined that a 56-million-tonnes-per-year LNG industry in British Columbia would generate nearly 100,000 jobs.
For nearby Alberta, who has struggled under the anti-pipeline movement to get its oil its primary market, the United States, while turning a profit, those 100,000 jobs—in Canada as a whole, not just in B.C.--may not make up for what it lost from oilsands operations after B.C. fought tooth and nail against the much-needed Trans Mountain pipeline expansion.
For B.C., who would be the recipient of more than two-thirds of those jobs, it would be sweet victory.
In addition to the jobs, total wages from an LNG industry would be boosted by more than $6 billion ($4.6 billion for B.C.), and increase Canada’s GDP by $11 billion annually. More than $108 billion in provincial revenue could be generated for the provinces, according to the report, with $94 billion of it going to B.C.
The federal government would receive about $64 billion in additional revenue.
Of course, that LNG industry would come at a cost—of about $500 billion, spread over more than forty years, according to the report “A Rising Tide: The Economic Impact of B.C.’s liquified natural gas industry”.
The war between B.C. and Alberta has been raging for years, centered around Alberta’s oil and a pipeline that must run through B.C. The disagreement has sparked threats of lawsuits and withholding the oil, with the federal government caught in the middle.
Unfortunately for Canada, it doesn’t have a great track record in recent years for getting energy projects off the ground, and an ambitious LNG industry poses more challenges than solutions.
By Julianne Geiger for Oilprice.com
More Top Reads From Oilprice.com:
Julianne Geiger is a veteran editor, writer and researcher for Oilprice.com, and a member of the Creative Professionals Networking Group.
The materials provided on this Web site are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice.
Nothing contained on the Web site shall be considered a recommendation, solicitation, or offer to buy or sell a security to any person in any jurisdiction.
Trading and investing carries a high risk of losing money rapidly due to leverage. Individuals should consider whether they can afford the risks associated to trading.
74-89% of retail investor accounts lose money. Any trading and execution of orders mentioned on this website is carried out by and through OPCMarkets.
Merchant of Record: A Media Solutions trading as Oilprice.com
Would love to see a serious ESG analysis of this project, not some "lipstick on a pig" analysis by industry.
The world needs more transparency, not spin.