By 2021 an additional 850,000 barrels a day will be on-stream, with nowhere to go but the rails. Every additional month that passes without new pipeline capacity to tidewater has a social cost, in the billions in lost government tax revenue, corresponding to higher deficits and, ultimately, a lower living standard.
The Liberal strategy so far has been to remain aloof, while imposing new layers of oversight that will supposedly yield broad public acceptance of the need for pipelines. It isn’t working; indeed the opposite is happening. And now Trudeau is in China, laying the groundwork for a bustling future trade in oil for which Canada is utterly unprepared
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