Posted 2/12/2024, 5:40:03 AM
Costly Trans Mountain Pipeline Nears Completion Amid Questions Over Canada's Oil Growth
- Canadian oil sold at $50/barrel discount in 2018 due to lack of pipelines; government builds $26B Trans Mountain pipeline to Pacific
- Pipeline cost far more than it's worth; seen as $10B taxpayer-funded mistake
- Should narrow Canadian oil discount to $10/barrel, facilitate future investment and production
- Canada is 4th largest oil producer globally, set for growth in 2024 after stagnation
- Trans Mountain last major pipeline; production growth limited to next 2-3 years before railway needed again