Tag: offshore

Newfie oil – delays and conversion

Geez, wonder who the federal government likes best? Federal government gives $86 million to convert Newfoundland oil refinery to biofuel.

And you know it likes Newfoundland because when they wanted to open up a major new oilfield, the federal Liberal government bit their tongue and said, “Sure!”

But now Newfoundland will also got a taste of what Alberta usually chews on – delays on energy projects. The Bay du Nord sailed through federal approvals (sailed – see what I did there?) , only to find out that Norwegian proponent Equinor is going to delay it three years. Didn’t they know the federal government is supposed to delay oil projects three years, not the oil company?

Take out the Trash Day – Trans Mountain Expansion edition

So, if you didn’t see this news come out on Friday, because all horrible news is released on Friday, the Trans Mountain Pipeline just went up something like 44 per cent in cost. That’ll be paid for by us, by the way. The cost is now $30.9 billion. But wait! In 2013, Kinder Morgan figured they could build it for $6.8 billion. The current cost is only 4.5x what Kinder Morgan had planned.

Is it any wonder why ExxonMobil is walking away from longstanding, but never used offshore oil and gas leases off the BC coast? Any guesses why a company would walk away from a major oil and gas project in BC?

By the way, this clip from the first season of The West Wing is the absolute best nugget of political knowledge you can sum up in one minute (the first minute of this clip). Fridays are “Take out the Trash Day.”

A similar thing happened the Friday of the Family Day long weekend, when the feds released their just transition plan. Watch for upcoming stories on that.

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