President Donald Trump has said Canada’s energy exports are unfair to the US, but he’s clearly unaware that we’ve given Americans the biggest trade gift ever because of our self-inflicted inability to access offshore markets.
After almost a decade and more than $1 billion spent on planning and regulatory filings, five major oil-export pipelines remain unbuilt, leaving us with no choice but to sell our oil to US buyers at below world prices. The captive-market discount has been as much as US$10 per barrel on the 3.8-million barrels per day exported to the US.
That’s a $38-million daily gift to Americans, who then export their oil at the full international market price.
Read more at Plant.ca
