While Alberta premier Danielle Smith demands new oil corridors, the Macdonald Laurier Institute notes that pipeline capacity is currently ‘sufficient.’
  • SamuelRJankis@sh.itjust.worksEnglish
    7·
    17 hours ago

    Pretty well written article. Really comes down to:

    1. If these companies thought they could make more money off another pipeline they’d be lobbying for it.

    2. As a CNQ holder that’s seen some great returns. Trump and OPEC are the people costing me the most money.

    Despite relentless rhetoric about a “lost decade” due to hostile Ottawa energy policies, Alberta oil production increased by 40 percent since the federal Liberals came to power in 2015. Canadian oil and gas revenues exceeded $1.1 trillion between 2015 and 2022. The five biggest oil producers in Alberta enjoyed annual operating profits of $44.3 billion in 2021-22 — a tenfold increase since 2015.

    So where did the money go? Those same five companies ploughed $20 billion of record-breaking profits into dividends and stock buy-backs in 2022 — more than double the proportion paid out to investors in 2014. And since only 25 percent of those shareholders are Canadian and even fewer live in Alberta, the vast majority of that windfall is going elsewhere.