Recently the German Chancellor flew to Canada to discuss buying oil from Canada, God knows Germany needs all it can get what with winter coming on. Trudeau laid his usual word salad on the Chancellor but the answer came down to "Fuck Off." The Soy Boy is determined to save the planet even if the Germans have to freeze this year.
Ottawa has been using the Albertan oil revenues as their private piggy bank for years now. The Albertan's weren't all that happy about the situation but they were prospering enough so that all they did was grumble. Well, they aren't prospering all that much now. Albertan oil is 'dirty' oil and sells at a discount on the open market, approx. $30/bbl below Texas Sweet. Further the only refineries that can process the stuff are in Texas. To make matter worse the Texas refineries are running at near capacity with Texas crude so they aren't buying the Albertan crude in the quantities they did before. Meaning they aren't selling as much as before. This after the Albertan oil folks having invested a great deal of money in improving their recovery technology to the point that their break-even point is down to ~$64/bbl. So here Soy Boy cuts them off from alternative market, a market that has a desperate demand for their product. To say that the Albertan's are pissed would be an understatement.
Returning to the Albertan 'grumbling.' For a couple of decades now there was a core of Albertan's that want to secede from Canada. That number has wavered around the 20-30% level, going up and down as the political landscape in Ottawa changed. Never any real threat of the effort coming to fruition. It's too early post the latest Trudeau edict for there to be any polling data but I can't help but wonder how the Albertan on the street is going to react to having their economic throats cut? It's certainly going to be interesting to watch.
Ottawa has been using the Albertan oil revenues as their private piggy bank for years now. The Albertan's weren't all that happy about the situation but they were prospering enough so that all they did was grumble. Well, they aren't prospering all that much now. Albertan oil is 'dirty' oil and sells at a discount on the open market, approx. $30/bbl below Texas Sweet. Further the only refineries that can process the stuff are in Texas. To make matter worse the Texas refineries are running at near capacity with Texas crude so they aren't buying the Albertan crude in the quantities they did before. Meaning they aren't selling as much as before. This after the Albertan oil folks having invested a great deal of money in improving their recovery technology to the point that their break-even point is down to ~$64/bbl. So here Soy Boy cuts them off from alternative market, a market that has a desperate demand for their product. To say that the Albertan's are pissed would be an understatement.
Returning to the Albertan 'grumbling.' For a couple of decades now there was a core of Albertan's that want to secede from Canada. That number has wavered around the 20-30% level, going up and down as the political landscape in Ottawa changed. Never any real threat of the effort coming to fruition. It's too early post the latest Trudeau edict for there to be any polling data but I can't help but wonder how the Albertan on the street is going to react to having their economic throats cut? It's certainly going to be interesting to watch.
