President Donald Trump is doing so much winning with the biggest and most powerful country in the world, and a big thanks to Canada for that.
The cuckoo Prime Minister Justin Trudeau’s anti-oilfield attitude put us in this spot.
He is sending hundreds of oilfield jobs to the United States daily, with jobs comes money, money is being shipped out too.
Via the Tyee.ca
How badly is Canada missing out by not refining our own oil? The oil industry has a colourful term called the crack spread to describe the profit margin for refineries between buying crude and selling refined products.
Washington refineries buying Alberta bitumen have some of the largest profit margins in the world – up to $45 US per barrel in 2013. Not surprisingly, Vancouver also has some of the highest retail gasoline prices in North America.
Little wonder some interests are so keen on seeing the Trans Mountain pipeline expansion. According to a recent market research paper bluntly titled Pacific Northwest Refineries: Cheap Crude and a Captive Market “Both Shell and BP were in a strong position to benefit from bargain-priced heavy Canadian crude that the other refiners cannot process in significant quantities due to lack of investment in coking units… If the Trans Mountain pipeline is expanded in 2019 it will provide considerable opportunity to upgrade or expand Puget Sound refineries.”