A report reveals the massive fortune Canadians just lost thanks to pipeline shortages fpcomment
With pipeline shortages driving down the price of Canadian oil, the losses for the energy sector — and for Canada’s economy — are staggering. According to a new study being released this week by the Fraser Institute, insufficient pipeline capacity cost Canada’s energy sector $20.6 billion — or one per cent of the country’s economy — in foregone revenues last year.
And despite a revised National Energy Board ruling that deemed the project in the public interest, the B.C. government continues to oppose the project and is pursuing legal means to block the expansion. Such delays and political opposition raises serious concerns about whether the pipeline will ever be built.
Of course, it hasn’t always been this way. Between 2009 and 2012, the price differential was roughly 13 per cent . And that difference was seen by producers as one of the costs of doing business in Canada.
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