That Venezuela oil will stay in the ground for a while. The time it will take to build enough infrastructure we may get a new president.
Keypenpad on
That’s not how it works..
Commercial-Set3527 on
Seems counterproductive to invest heavily in oil exports on the assumption oil prices are going to drop
coffee_is_fun on
Urgently and large infrastructure project are mutually exclusive. Words don’t magically fly off of a typewriter and turn into a pipeline.
Void-splain on
Really making political hay out of this
Gym_frere on
If it’s urgently needed, why aren’t private companies lining up to build this thing? Carney has done pretty much everything they asked him to do.
MourningWood1942 on
This had to happen before Venezuela happened. This is just the outcome of Canada being screwed because they didn’t take action.
Business-Hurry9451 on
We needed pipelines, plural, 10 years ago but for some strange reason they never happened.
Pretty_Couple_832 on
Cool so how do we convince other countries to spend billions of dollars building refineries to process bitumen?
Mindless_Efforts on
We cant counter thier price as they are OPEC. We have oil in the sand. Its more expensive.
Falcon674DR on
Who’s going to pay for it? Who’s going to pay the incremental capital needed to develop the reserves and ensure the pipeline is full for 25 years? I keep asking and I never get an answer.
AllDay1980 on
Ohhh so now it matters…get your $#!t together Canada. Should have had new pipelines and deals in place a long long time ago. It will take forever to get anything going with our current government. US will have Venezuela upgraded and pumping oil before we even begin the endless red tape parade that it takes to think about building a new pipeline.
Shaarl_Lequirk on
First Nations say “nope”
gringo_escobar on
What a depressing fucking headline
AugmentedKing on
Wait. Are we still pretending that OPEC doesn’t set the production output volumes?
If Canada has to race Venezuela for volume sold to USA, it means MAGA has betrayed Alberta Separatists. Oops.
Captain_Deleb on
Yeah guys, let’s put more money into an industry that’s about to get skullfucked by the market, that’ll fix it
CautiousProfession26 on
Of course Canada loses again we don’t have citizens who support selling our resources while the us invades another country and takes their resources and people love it. Countries need to sell natural resources!
logopolis01 on
…Says the oil tycoon?
As they say, if all you have is a hammer, everything looks like a nail.
Dangerous-Degree-948 on
Just one more pipeline bro just one more pipeline and we’ll be able to compete with the other fragile petrostates
Equivalent_Aspect113 on
Market saturation of oil , demand is decreasing globally. What would a pipeline accomplish – increase more saturation?
PlannerSean on
Canada urgently needs a new pipeline because __________________. (Insert current reason)
Sammytheseaotter on
A pipeline would take 10+ years to build! lol that ship has sailed
Gothwerx on
I’m curious what marlaina’s reaction to this will be after spending the last year championing Alberta oil exclusively to the detriment of every other industry, only to have her orange buddy down south completely undercut the entire Alberta oil industry.
Bobll7 on
I think we should build a pipeline but not because of a possible oil surge from Venezuela. US oil and gas will not invest hundreds of billions of dollars over there at the current price of the barrel. Neither will they risk life and limb in potentially a hostile environment. Furthermore, they are pulling back on production in the US currently even with the encouragement of the present administration to drill, baby drill. But a pipeline here, sure.
LossChoice on
If the world gets more readily available access to that supposedly huge reserve in Venezuela the price of oil will have to go down and it just won’t be the same cash cow for us anymore.
Apolloh on
If you think Venezuela is magically going to increase oil exports because Trump said so, I’ve got some things to sell you.
NihilsitcTruth on
Sorry the indigenous people won’t let you…..
Calgary_dude2025 on
Well it’s not like the Americans are going to snap their fingers and oil from Venezuela is going to get shipped to the US.
Here’s a post that talks about the economics involved:
40 Comments
[deleted]
That doesn’t make any sense but go off, I guess
[deleted]
Canadian Oil Industry RN: 🤡
This is deeply unfortunate timing of events.
That Venezuela oil will stay in the ground for a while. The time it will take to build enough infrastructure we may get a new president.
That’s not how it works..
Seems counterproductive to invest heavily in oil exports on the assumption oil prices are going to drop
Urgently and large infrastructure project are mutually exclusive. Words don’t magically fly off of a typewriter and turn into a pipeline.
Really making political hay out of this
If it’s urgently needed, why aren’t private companies lining up to build this thing? Carney has done pretty much everything they asked him to do.
This had to happen before Venezuela happened. This is just the outcome of Canada being screwed because they didn’t take action.
We needed pipelines, plural, 10 years ago but for some strange reason they never happened.
Cool so how do we convince other countries to spend billions of dollars building refineries to process bitumen?
We cant counter thier price as they are OPEC. We have oil in the sand. Its more expensive.
Who’s going to pay for it? Who’s going to pay the incremental capital needed to develop the reserves and ensure the pipeline is full for 25 years? I keep asking and I never get an answer.
Ohhh so now it matters…get your $#!t together Canada. Should have had new pipelines and deals in place a long long time ago. It will take forever to get anything going with our current government. US will have Venezuela upgraded and pumping oil before we even begin the endless red tape parade that it takes to think about building a new pipeline.
First Nations say “nope”
What a depressing fucking headline
Wait. Are we still pretending that OPEC doesn’t set the production output volumes?
If Canada has to race Venezuela for volume sold to USA, it means MAGA has betrayed Alberta Separatists. Oops.
Yeah guys, let’s put more money into an industry that’s about to get skullfucked by the market, that’ll fix it
Of course Canada loses again we don’t have citizens who support selling our resources while the us invades another country and takes their resources and people love it. Countries need to sell natural resources!
…Says the oil tycoon?
As they say, if all you have is a hammer, everything looks like a nail.
Just one more pipeline bro just one more pipeline and we’ll be able to compete with the other fragile petrostates
Market saturation of oil , demand is decreasing globally. What would a pipeline accomplish – increase more saturation?
Canada urgently needs a new pipeline because __________________. (Insert current reason)
A pipeline would take 10+ years to build! lol that ship has sailed
I’m curious what marlaina’s reaction to this will be after spending the last year championing Alberta oil exclusively to the detriment of every other industry, only to have her orange buddy down south completely undercut the entire Alberta oil industry.
I think we should build a pipeline but not because of a possible oil surge from Venezuela. US oil and gas will not invest hundreds of billions of dollars over there at the current price of the barrel. Neither will they risk life and limb in potentially a hostile environment. Furthermore, they are pulling back on production in the US currently even with the encouragement of the present administration to drill, baby drill. But a pipeline here, sure.
If the world gets more readily available access to that supposedly huge reserve in Venezuela the price of oil will have to go down and it just won’t be the same cash cow for us anymore.
If you think Venezuela is magically going to increase oil exports because Trump said so, I’ve got some things to sell you.
Sorry the indigenous people won’t let you…..
Well it’s not like the Americans are going to snap their fingers and oil from Venezuela is going to get shipped to the US.
Here’s a post that talks about the economics involved:
[https://www.reddit.com/r/jrmining/comments/1q4lc4h/the_1_trillion_myth_why_venezuela_wont_replace/](https://www.reddit.com/r/jrmining/comments/1q4lc4h/the_1_trillion_myth_why_venezuela_wont_replace/)
Post credit: u/RicardoTNoel1
Imagine being told for 10 years that oil and gas is at peak demand and green energy crap was the future
gonna take 10 years discussing it 5 years of indgienous fighting against it and by the time it’s done the rest of the world doesn’t give af.
Seems like it would be a really great time to invest in some renewable energy tech, and nuclear.
I would say that its more urgent that we massively prop our military.
We are gonna need it before any pipeline is built.
They want the tax payers to pay for it. It’s as simple as that.
Otherwise they’d do it themselves.
Keep pivoting to natural gas, it has stronger price fundamentals.
First boat left Venezuelea this morning with 300,000 barrels chartered by Chevron.
Chinese oil consumption is down to 95% from 2023. Where’s crude going to go?
I don’t think building a pipeline is going to stop the silent merger that is happening right now.
Yes. We should have done this a long time ago, and any other country on earth would have done it.
**Trudeau has left the chat**