Lower risk is the big one. It will be a significant undertaking (both time and money) to get Venezuela’s oil production up to speed – that’s bad enough for capital interests, but there are significant risks all around (from Venezuela’s stability to whatever comes after Trump). When Canada’s infrastructure is already setup, investing in Venezuela would be throwing good money after bad. Who knows what the US will do, but it doesn’t make sense for them (not that this will stop them).
MTL_Dude666 on
Canadian oil cleaner???
What’s the comparison with? Venezuela does have „oil sands“ like Canada but they are less viscous hence easier to exploit. I would really like to see a environmental comparison of Canada’s Athabasca oil sands vs. Venezuela Orinoco Belt’s oil sands because I’m not really sure that our is any cleaner than Venezuela’s.
MarkCEINE on
If the oil deal MOU with Alberta goes through as planned our oil will be cleaner. I am not so sure now. If the disrepair of the Venezuelan infrastructure is as bad as it sounds maybe we are cleaner now. I do not think the US cares anymore though and will only look for the cheapest alternatives and discount our oil further. If we are going to build a pipe or two to the world now is probably the right time.
EnvironmentalLie7830 on
Hmm I’ve only been around oil all my life in Alberta. „Clean“ is not what id call it. There’s a reason its called OILSANDS.
AdditionalPizza on
I’m going to point out he stated that the Canadian oil industry will be *competitive* as a keyword here. That does not mean „as profitable“.
Carney can be read by listening to exactly what he says, not by what he doesn’t say, but what he says exactly. I see no universe where there is a net gain for Canadian oil here, it just isn’t at all likely. It’s a question of how much of an impact Venezuelan oil will have, and how quickly.
To be fair, that’s how the market works though. We, as Canadians, aren’t being cheated or anything. It’s business.
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Lower risk is the big one. It will be a significant undertaking (both time and money) to get Venezuela’s oil production up to speed – that’s bad enough for capital interests, but there are significant risks all around (from Venezuela’s stability to whatever comes after Trump). When Canada’s infrastructure is already setup, investing in Venezuela would be throwing good money after bad. Who knows what the US will do, but it doesn’t make sense for them (not that this will stop them).
Canadian oil cleaner???
What’s the comparison with? Venezuela does have „oil sands“ like Canada but they are less viscous hence easier to exploit. I would really like to see a environmental comparison of Canada’s Athabasca oil sands vs. Venezuela Orinoco Belt’s oil sands because I’m not really sure that our is any cleaner than Venezuela’s.
If the oil deal MOU with Alberta goes through as planned our oil will be cleaner. I am not so sure now. If the disrepair of the Venezuelan infrastructure is as bad as it sounds maybe we are cleaner now. I do not think the US cares anymore though and will only look for the cheapest alternatives and discount our oil further. If we are going to build a pipe or two to the world now is probably the right time.
Hmm I’ve only been around oil all my life in Alberta. „Clean“ is not what id call it. There’s a reason its called OILSANDS.
I’m going to point out he stated that the Canadian oil industry will be *competitive* as a keyword here. That does not mean „as profitable“.
Carney can be read by listening to exactly what he says, not by what he doesn’t say, but what he says exactly. I see no universe where there is a net gain for Canadian oil here, it just isn’t at all likely. It’s a question of how much of an impact Venezuelan oil will have, and how quickly.
To be fair, that’s how the market works though. We, as Canadians, aren’t being cheated or anything. It’s business.