HOW DO YOU SAY CANADIAN OIL?

HOW DO YOU SAY CANADIAN OIL?

(Enbridge Energy Partners, The Canadian Press)

(Murray Rankin, Sunny Dhillon, Louise Dickson, Yinka Dene)

(Pembina Institute Report, McLean Tanara, Reuters, Frazer Chronicle)

The Keystone XL pipeline is big; it’ll stretch across several states on its journey from Canada to Texas and Port Arthur on the Gulf of Mexico. It’ll be more than 1,700 miles in length, create a whole host of jobs, and inject billions of dollars into local economies along its route.  The parent company, TransCanada is big, and old…..founded back in 1951.

TransCanada controls more than 2,150 miles of oil pipelines, and an additional 42,564 miles of wholly owned, and 7,146 miles of partially owned gas pipeline that connects with virtually all major gas supply basins in North America. The company is one of the continent’s largest providers of gas storage and related services with approximately 400 billion cubic feet of storage capacity

Enbridge Incorporated is an energy delivery company, and is focused on transporting and distributing crude oil, natural gas, and other liquids. The company controls approximately 15,380 miles of pipeline that delivers more than 2.2 billion barrels per day of crude oil and liquids. Enbridge also gathers, processes, and transports billions of cubic feet of natural gas every day, and has a growing involvement in the natural gas transmission and midstream business. The company was founded in 1949 and employs more than 10,000 employees.

There is a third company that is vying for a piece of Canada’s tar-sand oil, and their reportedly going to dump $36 billion dollars into investments in British Columbia. In comparison, $36 billion that this Malaysian oil company will invest is larger than the entire GDP of New Brunswick or Newfoundland.

KNOW WHO YOU’RE GOING TO DEAL WITH BEFORE YOU TAKE THE PLUNGE

PETRONAS, (Petroliam Nasional Berhad) is owned and operated by the Malaysian Government, was founded in 1974 and employs more than 40,000 people. The company is vested with the entire oil and gas resources in Malaysia and is entrusted with the responsibility of developing and adding value to these resources. It is rated the 68th largest company in the world, and was ranked 12^th most profitable company in the world in 2012.

PETRONAS is going to frack for natural gas, pipe it to the coast and load it into specialized tanker ships for (LNG) (liquid natural gas,) and ship it from North America, where gas sells for about $3.50 per thousand cubic feet, to Asia, where it sells for up to $19.

Little attention was given the transaction, the fracking plans, and the final destination of the finished product by the Canadian press…..and absolutely zero in the United States. Keeping the lid on a $13 billion pipeline construction project, and the eventual $50 billion that PETRONAS spend was done for one reason; Enbridge and Kinder Morgan’s Trans Mountain expansion would get the lion’s share of that $13 billion.

The entire projects, the Keystone, and the PETREONAS, wIll be worth close to $65 billion dollars, and create thousands of initial construction jobs, and hundreds of long term employment opportunities for the locals along the length of the project.

IT’LL BE LIKE A SLOW MOVING MUD-SLIDE…..ONE THAT CAN’T BE STOPPED

Thousands of people along close to 4,000 miles of projected oil pipeline are waiting with watering mouths in anticipation of good paying jobs that’ll lift entire areas out of a prolonged lethargy. Extraction companies, no matter what they are taking from the ground can play a waiting game better than anybody in any industry. They’ll simply wait for a generation or two, and after the objections have all died off, (literally) they’ll come back to an area, and start the process all over again.

Don’t get me wrong, harvesting whatever the element from the ground is okay by me, in fact I hope it all works out (remember I’ve got an interest in a natural gas property) but those people who are wanting the project need to be up front and honest…..with everybody, and on every subject or concern.

There’s an overbearing reason that people might overlook some environmental sticking points…..it’s called “green-backs, dinero, dough-ray-me…..money.) People will sacrifice a whole bunch of stuff for the right price. It’s funny how industry can’t believe how crooked the average guy can be, but industry doesn’t have a corner on that human trait.

I guess all that we can do, those of us who are concerned citizens, and hope for rational thinking and decisions that will govern the path taken by these oil people, is that they hear the faint voices warning of a degradation to environment, one can only hope, cause we sure do need petroleum products…..and me, I need for my gas well to get to processing so that I can quite this damned blogging.

HAVE A NICE DAY AND A SAFE NIGHT!