Re: Canada’s oil is undervalued, Feb. 14 letters
Vivian Krause is neither a journalist nor an academic but has become Alberta premier Jason Kenney’s poster child for his policy on the export of Alberta oil.
This commodity is, in fact, dilute bitumen with a limited export market and desirability for economic refining.
It is basically controlled by “big oil” with Alberta merely collecting royalties which Mr. Kenney wants to reduce to a bare minimum along with the abolition of the carbon tax.
The fall of the world price of oil was engineered by the White House, in collusion with Saudi Arabia ramping up production of crude oil at a wellhead cost of about $15 a barrel, which removes Iran and Venezuela from the market as effected by U.S. president Donald Trump’s illegal sanctions.
Krause’s pontificating is largely dismissed by the big players in the environmentalist movement as a “conspiracy theory”
Mr. Harrap, in all fairness, should read John Foster’s recent publication, “Oil and World Politics.”
Interestingly, the Liberal government only bought shares in Kinder Morgan’s pipeline and now propose twinning it to carry dilute bitumen and probably OK the new Teck Corporation tar sands mine in the Alberta oil patch.
Dr. Brian McCombie, Surrey