Our potential wealth is being taken from us because of anti-energy industry extremists and pathetic leadership.
Not long after a report that the anti-pipeline activists have cost Canada $117 BILLION over the past 7 years, it is now being revealed that pipeline delays will cost Canada another $10.7 BILLION in 2018, because of the discount at which our oil is sold due to our inability to get more of it to market.
According to BNN, ‘”Pipeline approval delays have imposed clear, demonstrable and substantial economic costs on the Canadian economy,” said bank chief economist Jean-Francois Perrault in a report Tuesday.”
Additionally, “Canadian producers would need Line 3 and at least one of the other pipelines to go forward or face indefinite pipeline constraints that would have an impact on Canada’s well-being with consequences that extend well beyond Alberta, said Perrault. “The elevated discounts come with a steep economic cost, and represent to a large degree a self-inflicted wound,” he said.”
While the report predicts that the discount could lessen – in part due to expanded rail capacity – it should be noted that the increasingly difficult bureaucratic process for pipeline approvals being imposed by the Trudeau government could make things even worse going forward.
Now, we are seeing the cost of pathetic ‘leadership,’ whether it’s the socialist NDP in BC attempting to block pipelines, or the Trudeau government refusing to stand up for Canada’s national interests.
Despite the fact that many of the anti-pipeline ‘activists’ are funded by foreign money, our leaders refuse to stand up to them, and the result is that our nation is far poorer than it should be and we are being deprived of wealth that should be helping the Canadian people.
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