More evidence that the marginal consumer is tapped out as shrinking economies continue to experience declining demand for commodities like oil. Is the concept of an oil pipeline from Alberta to coastal waters even viable at this point?
Even with a recent decision by OPEC to hold production rates steady through the first quarter, the International Energy Agency said last week that it now expects 2026’s oil glut to reach 3.8 million barrels per day.
On the water, crude tankers at sea are now holding more than 1 billion barrels — a figure that has steadily risen over the past few months as sellers have had a harder time finding buyers willing to take the oil.
Oil prices will fluctuate – the totalitarian takeover of Canada won’t. It will be final.
Pipelines are a symptom of a far far larger crisis.
I just paid $3.75/gal. for gasoline at COSTCO … during Biden’s presidency I was paying $4.75/gal. at the same COSTCO. That’s a 22% REDUCTION in the inflated Biden price. Thank you President Trump! Making American life affordable again.
Ridiculous premise.
If a pipeline were to start today, it will still take approx 4-5 years from initial shovels, to end product shipping, depending on total length, port facilities, etc.
Basing “feasibility” on the price of oil today is a fools game.
Can anyone predict the price of a barrel in 4 years? Hell, if anyone can accurately predict that, tell me the Stanley Cup winners for the next 5 years too.
There will always be a market for oil, and, there will always be money, taxes and royalties paid.
Besides, there is always the possibility of “peak oil”, controversial as it is. That would drive up prices significantly, if that plays out. Certainly, there shale oil reserves are depleting, though it depends if new/known oil fields are allowed to be developed in Alaska, coastal areas, Israel, etc.
Build it and they will come.
Oil price too low?
Let’s start one of those war thingys!
How much of the oil currently afloat is Russian? Could that be why they’re having a hard time finding buyers?
One doesn’t build a pipeline for next year, but for the next 50 years.
Here’s an example of a pipeline built to last at least 50 years:
https://youtu.be/w7c2ZKamzS4?si=QlPiKvrlLfNTxcbk