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Canada fast-tracks Pacific oil pipeline to reduce US dependence

83 points · 96 comments · geox

  1. simojo · · focus · HN ↗
    So many people come and give doomer statements on the reality of the US and Canada becoming increasingly at odds.

    As a US citizen, I just want to add that I hope some day we can reestablish a healthy relationship with our neighbors. These articles are saddening.

    1. reedf1 · · focus · HN ↗
      It won't happen in our lifetime. American's are yet to fully understand the impact, it will take 50 years or more to go back to 2024.
      1. yostrovs · · focus · HN ↗
        It's not at all clear to most Americans what the consequences are. This pipeline, for example, sounds like something Americans should welcome because it will finally allow Canada to offer its oil to the world market in significant quantities. It will allow Canada to export significantly more than they do now, pushing down prices. It wasn't built until now purely because of internal Canadian environmental concerns. If Canadians think it's a good idea to now destroy vast amounts of their forest to get to some of the most difficult to process oil in the world, then that's what it is and they get to make some money as a benefit. But it doesn't seem at all like some kind of rational reaction to American foreign policy.
        1. Sytten · · focus · HN ↗
          The Canadian oil is always 10-20% cheaper right now because it only has one buyer, if anything the price will just track the global market more
          1. bryanlarsen · · focus · HN ↗
            The pipeline will both increase the price Canada gets for its oil by reducing the share the railways get from the price, and (very slightly) decrease the world price because of increased supply.
            1. db48x · · focus · HN ↗
              Splitting the earnings differently between Canada and Canadian railway companies is a zero–sum game. It just changes which company makes what percentage of the profit. The real win for Canada will be additional production. The Prime Minister of Canada stated that the new pipeline would allow them to “export an additional 1 million barrels a day to growing markets in Asia.” That’s a net benefit for everyone. It’s additional profits for Canadian society and increased supply on the world market.
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