• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 22 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 4 days They pay YOU to TAKE Natural Gas
  • 5 hours How Far Have We Really Gotten With Alternative Energy
  • 9 hours What fool thought this was a good idea...
  • 3 days Why does this keep coming up? (The Renewable Energy Land Rush Could Threaten Food Security)
  • 9 days The United States produced more crude oil than any nation, at any time.
Groundhog Day for OPEC+

Groundhog Day for OPEC+

Ahead of a critical meeting…

Machine Learning Could Make Geothermal Energy More Affordable

Machine Learning Could Make Geothermal Energy More Affordable

Machine learning technology has the…

Oil Industry Relieved After Major Conservative Win In Alberta

The United Conservative Party won the provincial vote in Alberta with an overwhelming majority, promising a harder line on energy issues as a champion for the oil industry.

The leader, Jason Kenney, pledged on the campaign trail to remove the carbon tax introduced in the oil province and challenge legislation that neighbor British Columbia is pushing that would give it more power over inter-province infrastructure projects. The goal is to stop for good the Trans Mountain oil pipeline expansion project.

The UCP victory spells more trouble for the two neighboring provinces if Kenney stays true to his promises. It also spells more tension between Alberta and Ottawa, as the UCP leader has also vowed to get the federal government in line regarding the now-notorious project.

In addition, Kenney has said he planned to hold a referendum in Alberta regarding the so-called equalization payments the federal government distributes to smoothen financial inequalities among provinces. Plans are to tie these payments to the construction of new pipelines.

The pipeline problem has become Alberta’s Achilles’ heel, costing it billions in lost profits from crude oil exports as production grows but existing pipelines cannot cope with the additional load. This has spurred more exports by rail and the acquisition by the outgoing Rachel Notley government of more rail cars to boost the export capacity in the face of pipeline bottlenecks.

The shortage also forced the government to institute obligatory production cuts that met with strong opposition from some industry players and may have additionally tipped the scales in favor of the United Conservative Party in the election.

Canadian media report that Kenney has already threatened British Columbia to turn the gasoline tap off “within an hour” of taking office if it continues to try and stop the Trans Mountain expansion. This might very well be the first shot in the second inter-province Battle of the Pipelines.

By Irina Slav for Oilprice.com

ADVERTISEMENT

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News