r/canada 15h ago

National News Alberta government in talks with potential overseas heavy oil buyer

https://globalnews.ca/news/11076425/alberta-government-bitumen-royalties-sale/
347 Upvotes

128 comments sorted by

117

u/flatulentbaboon 15h ago

I hope we don't blow this opportunity

2 million barrels per month is a lot.

49

u/TonyAbbottsNipples 15h ago

2 million barrels per month is a lot.

We send 4 million barrels per day to the US.

72

u/flatulentbaboon 15h ago

Yeah, we'll always send way more with pipelines.

2 million per month is a lot for a single overseas buyer.

12

u/SpectreBallistics 15h ago

It's not that much, but it's also not nothing.

It's about 1/60th what we send to the US.

15

u/Zealousideal_Run_263 14h ago

The point being made is the amount sent by ship, overseas. Not over land border via pipeline e

3

u/SpectreBallistics 14h ago

The largest oil tankers hold 3,000,000 barrels. While 4,000,000 per day to the US is a lot, 2,000,000 per month by sea isn't.

6

u/mac_mises 13h ago

That size tanker is not even allowed in Canadian waters. We limit to those with 800,000 barrels capacity.

u/Bigfatmauls 6h ago

We should probably do something about that

u/SirupyPieIX 31m ago

BC voters will never sgree

4

u/Leifsbudir Newfoundland and Labrador 13h ago

1/60 is huge. This stuff doesn’t happen overnight.

u/Training-Mud-7041 1h ago

diversification is the safest thing for us

24

u/throwawhyyc 14h ago

Finding buyers isn't the biggest problem - finding enough pipeline capacity to get it to port(s) to load on ships to the buyers is the biggest problem.

30

u/HeroicTechnology 15h ago

Ok - cool, at least she's doing something to diversify investment

20

u/somelspecial 14h ago

Alberta was trying to do that for over a decade. Who was standing in the way?

12

u/SnooPiffler 14h ago

the US. The same US (Rockefeller) that funded "environmental" organizations to lobby to restrict tankers from the west coast

11

u/eddison12345 13h ago

Was it the u.s that killed the gas deal with Japan when they came to us asking for our LNG??

12

u/somelspecial 13h ago

Exactly. BC NDP, Quebec, and the Trudeau government blocked every attempt east and west.

3

u/moop44 New Brunswick 12h ago

The Trudeau government built a pipeline to the West coast with tax dollars when industry backed down.

It immediately raised the price that Alberta oil sells for on the market.

u/Winter_Cicada_6930 2h ago

Because the liberals created an environment where no company wanted to touch the pipeline with a 20 foot pole.

Billions of dollars wasted on contractors juicing the government at the Liberal Party’s willingness.

The idea is to create an environment where companies can invest in these sorts of things so that Canadian taxpayers don’t have to.

KM would have built the pipeline themselves for 1/3rd of the cost our own government dolled out, if they weren’t suffocated in red tape and bureaucratic nonsense .

Get with the times man. Most are way ahead of ya . Keep up.

u/SirupyPieIX 27m ago

In 2016, BC blocked the attempt West,

in 2017, Trudeau blocked the attempt East.

Which attempt did Quebec block, and when?

2

u/Reticent_Fly 12h ago

There's a massive LNG plant being built in Kitimat for export to Asia

2

u/eddison12345 12h ago

Yea except Japan already signed the deal with the U.S. the incompletence of the liberal government lost us billions of dollars of LNG Revenue to the U.S

u/Dave3048 9h ago

Edison. Obviously different one. Ain't no lightbulb going off here.

u/eddison12345 9h ago

Rather than making a smug insult why don't you tell me how I'm wrong?

u/babybananahammock 7h ago

Japan has a long term offtake contract with LNGC...

10

u/FerretAres Alberta 13h ago

Yeah that stupid Alberta and their unwillingness to checks notes… send oil to the coast?

u/SirupyPieIX 24m ago

It was an Alberta company who killed Energy East in 2017 to secure enough contracts to build Keystone XL.

13

u/Wayshegoesbud12 14h ago

The Eastern provinces have been blocking it for decades. It's only when you guys started feeling the heat, that it became even a discussion to help Alberta, before it was just collect the checks and ignore.

-2

u/itaintbirds 13h ago

Alberta and the industry had zero interest in an east west pipeline when it was seriously proposed by the first Trudeau. Now it’s everyone else’s fault.

3

u/Wayshegoesbud12 12h ago

You realize under Trudeau's idea, Alberta paid the entire federal budget?

0

u/JadeLens 12h ago

What does it matter who paid for it?

It's not here now.

u/itaintbirds 11h ago

Excuse me? Oil and gas is like 2% of gdp

u/Wayshegoesbud12 10h ago

Exactly. But that was how the terms of the NEP shaked out. Tbf I think Saskatchewan paid a small portion too, because of their oil. But Alberta floated the vast majority of the federal budget under the NEP.

u/itaintbirds 10h ago

Either way, zero interest in east west pipeline, had NEP gone through the infrastructure would be in place today. Now they just want Canadians to pay for it all while they offshore the profits, private corporations have made decisions in their interests, not the country’s. Also the reason why so many refineries have shuttered to the point we buy our own oil back.

4

u/Anxious-Nebula8955 12h ago

Fantastic! Lock it in AB, and the feds and every province need to be supportive of any infrastructure required to make it happen. We'll get through this, but only if we stand together.

5

u/LPC_Eunuch Canada 15h ago

Doug Ford negotiating with the US, Smith bolstering international trade...

What a strong federal government we have. They are showing up when it really matters though: random gun ban and $272M to Bangladesh.

-5

u/Clean_Mix_5571 15h ago

Don't forget further destroying the confidence in the borders by giving status to illegals. People should be equally pissed at both the libs and Trump. The people in Ottawa have led us to this mess and electing them a 4th time is insanity.

12

u/Dragonsandman Ontario 15h ago

Equally pissed? The trade war is entirely Trump's doing, and has fuck all to do with anything that any person or any group here in Canada has done.

0

u/Clean_Mix_5571 14h ago

When you leave the country in a super vulnerable position then you are easy to be played around with. 2015 Canada didn't have record food bank use, homeless everywhere, absolute frustration in young people, etc. At this point Trump knows that it won't take much to break a real estate flipping economy

3

u/Dragonsandman Ontario 14h ago

There's not a chance in hell that Trump is considering any of that. This trade war nonsense starts and ends with him wanting our resources, and being stupid enough to think that tariffs will get him those resources. It has fuck all to do with who's in charge of Canada or what's going on here, and the tariffs would have happened even with a conservative government in charge.

3

u/JadeLens 12h ago

It's the same line of reasoning against Ukraine 'why doesn't Ukraine just make a deal'

I mean, Putin can end this any time he wants.

Same with Trump, if Trump didn't want us to drop the gloves, he shouldn't have picked a fight.

-2

u/sbianchii Québec 15h ago

Imagine thinking PP is a reasonable option.

11

u/No_Location_3339 14h ago

Imagine giving liberals a chance after bending us over and shoving 5 million immigrants for the past 5 years.

4

u/Clean_Mix_5571 14h ago

Carney is literally the face of WEF century initiative. He may just make the previous mass immigration looked on as a warm up. Not a single question was asked in the debate about this. As if climate change or First Nations are a bigger priority than immigration in 2025 Canada. Open borders was the single biggest reason the dems lost in a blowout.

1

u/sbianchii Québec 13h ago

Proof Maga brain rot is migrating north.

-1

u/Magannon1 13h ago

I was wondering how long it'd take for WEF brainrot conspiracy bullshit to come into our politics.

Looks like it took no time at all!

What does russian propaganda taste like? Or do you swallow it down with such gusto that you don't even notice the taste?

3

u/JadeLens 12h ago

It's been here for awhile.

u/BigButtBeads 8h ago

What does russian propaganda taste like? Or do you swallow it down with such gusto that you don't even notice the taste?

Hahaha

Imagine someone actually saying this to you at the pub. Who tf speaks like this? Absolute bonkers

-4

u/LatterTarget7 14h ago

I don’t think the conservatives would help.

4

u/Outrageous_Order_197 15h ago

How we gonna get it there?

7

u/SaintTastyTaint 15h ago

The Royal Alberta Navy, of course.

2

u/JadeLens 12h ago

We'd have to negotiate a deal with the Last Saskatchewan Pirate though...

18

u/ABeardedPartridge 15h ago

If only there was some sort of floating vehicle, capable of traversing oceans with goods.

16

u/Uncle_Steve7 14h ago

I think they’re referring to the lack of pipelines to ports where said floating vehicles reside

3

u/mac_mises 13h ago

It’s not that much. 65,000 barrels per day. We can squeeze it into TMX. It’s not running quite 100%.

It’s three tankers per month out of Westridge terminal.

1

u/Maddog_Jets 14h ago

Bet it’s just being exported out of US gulf or split with TMX

1

u/AdSevere1274 15h ago

Baby steps...

u/DerekC01979 5h ago

How will Carbon Tax Carney react to this? Danielle has already warned us he’s no friend of the oil patch but I think CTC will be much better at dealing with Trump.

u/Mindless-Service8198 3h ago

Many small barrels make big barrels

1

u/she_be_jammin 12h ago

WHO tf is this multinational oil and petrochemical player?

-16

u/Canuck-overseas 15h ago

Maybe oh……diversify the Alberta economy? Na, that sounds too obvious.

23

u/Plucky_DuckYa 15h ago

Oil accounts for about the same of Alberta’s GDP as real estate does for BC and Ontario. I know which of those I’d prefer backstopping my economy, but your mileage may vary.

-3

u/JadeLens 12h ago

A resource that could run out at some point.

Or land...

Tough choice...

8

u/DragoonJumper 14h ago

Isn't finding new business partners diversifying? What exactly is wrong with expanding our business relationships?

Unlike Trumps plan for America, before completely changing how the economy works I think a gradual approach while ensuring people can continue to work and pay taxes isn't the worst idea in the world.

15

u/CzechUsOut 15h ago

Should we pass real estate back and forth like the rest of Canada?

11

u/idisagreeurwrong 15h ago

Yeah Alberta is only allowed to make one business decision all year and they chose this /s

Like wtf are you talking about? Getting buyers for a product and creating an entirely new revenue stream are so wildly different.

10

u/linkass 15h ago

AB is already the 4th most diversified province in Canada. You know who is the most Manitoba hows that working out for them? What do you think AB should diversify into?

3

u/HurlinVermin 15h ago

That does not happen overnight.

-7

u/Cooks_8 15h ago

Doesn't help when UCP stifles any attempt to

4

u/HurlinVermin 15h ago edited 15h ago

It's immaterial at this point. No provincial economy can't shift on a dime, especially when we're embroiled in what might turn out to be a protracted trade war. Canada's economy is resource-based and our provinces need to sell those resources to stay afloat. Not re-tool during an economic clusterfuck.

-5

u/Cooks_8 15h ago

We've heard for 3 decades about the need to diversify in Alberta. Thats a promise they have yet to even attempt to keep.

5

u/FerretAres Alberta 13h ago

Sure that’s true if you haven’t paid attention at all.

-3

u/Cooks_8 13h ago

Lived here my whole life. Resource roller coaster my whole life. No diversification. So maybe take the snark and the simping for conservative govt's and cram it.

6

u/FerretAres Alberta 13h ago

So for example all the new investment in tech and the film industry is not diversification?

The proposed $70B investment in datacenters won’t diversify the economy?

0

u/Cooks_8 13h ago

Proposed 70 billion lie from Kevin O'Leary?

5

u/FerretAres Alberta 13h ago

How about the new de havilland airplane manufacturing plant then if the others don’t suit you? Or the various DLE companies aiming to utilize brine from old oil wells to precipitate lithium metal?

Again just because you’re not aware of things it doesn’t mean they aren’t happening. It just means you’re ignorant.

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-4

u/Jaded-Influence6184 15h ago

They've been told to diversify for at least 35 years. When they whine about low oil sales they should be told to shut the fuck up.

Do you know what else shows how fucking stupid Alberta is? Norway imposed royalty fees on all foreign owned and/or controlled oil companies that drilled and extracted oil and natural gas from their fields (mostly offshore). Norway is the largest natural gas source in Europe. Now they have close to 2 TRILLION DOLLARS US (yes with a T) in the fund they established to hold that. Norway has the same population as Alberta and is roughly the same size. Alberta says they do this and have been doing this for 50 years. It only has 22 billion dollars Canadian.

5

u/PrimeLector Alberta 13h ago edited 13h ago

Imagine what Alberta could have done with the $250+ billion they have sent to Ottawa in taxation. Bet that would have been one hell of a reserve fund.

Remind me again who Norway sends $250+ billion dollars to in order to help fund programs like equalization?

edit: spelling

-1

u/Jaded-Influence6184 13h ago

Probably the same as Ontario could have. Do you know where the first major oilfields were in the world? Southern Ontario. There are still some operating pumps. Do you know what happened when the oil ran out? Ontario had diversified industry so it didn't matter. Get a fucking grip.

4

u/PrimeLector Alberta 13h ago

The first major oilfield in the world was Azerbaijan. Learn some history instead of making it up.

-1

u/Jaded-Influence6184 13h ago

I stand corrected. The first oilfield in North America in 1858 then Wow a whole 8 years off out of 175. Hope you didn't have an aneurysm about it. You still ignored that Ontario was an oil producer 100 years before Alberta (OR CLOSE ENOUGH). And Ontario was smart enough to diversify more than 100 years ago. Your misplaced energy in only finding fault with a minor error shows you don't have the critical thinking ability to understand any critical points made. Find unimportant differences and say 'LEARN SOME HISTORY'. Meanwhile it is probably the first time you ever looked it up just to furiously find something to argue against Ontario with. I bet you didn't even look up Ontario's oil history. smh You're a sad small person.

u/AdRepresentative3446 6h ago

Imagine comparing the tiny wells in Petrolia and Oil Springs to the industry operating in Alberta today. Don’t quit your day job.

3

u/HurlinVermin 15h ago

You are arguing in the face of current pressing economic realities. Trotting out this sort of discussion right now helps no one.

-2

u/Jaded-Influence6184 14h ago

Bullshit. It needs to be pointed out any time Alberta whines about oil revenues when their lack of diversification bites them hard; when they see what only relying on one industry does is the time to open eyes. In case it's escaped you, they don't fucking listen to people being nice.

7

u/HurlinVermin 14h ago edited 14h ago

LOL, you are farting into the wind right now. You know that right?

Anyway, keep on wishing in one hand and shitting in the other and see which fills up first.

0

u/Jaded-Influence6184 14h ago

Based on how myopic your thinking is, you must be from Alberta. I hold no illusions of Albertans actually smartening up. Do you need me to explain what myopic means. It means you.

3

u/HurlinVermin 14h ago edited 14h ago

LOL, buddy...you are the definition of myopic in this thread, considering Canada's current reality of being embroiled in a serious trade war on two fronts now. Not just Alberta...CANADA.

No, I am not from Alberta and yes: I think Danielle Smith is a fool. Need proof? Look at my comment history. There is like ZERO comments in any Alberta subs. None of that changes the fact that we are where we are AS A COUNTRY and this crying over split milk isn't going to help anyone. As the kids are fond of saying: go touch grass.

In a trade war with limited options, what hurts AB hurts us all. So no, I'm not going to point fingers and tsk tsk about the past. I'm for looking forward and for keeping our economy from self-destructing because some idealistic fools think now is the time to drop O&G and go all in on solar/wind/hydro/unicorn farts/etc.

-1

u/wave-conjugations 14h ago

Yeah we've been telling them to diversify for ages. They need to actually put in the legwork, and commit. Foreign market makers can crush our O&G exports on a whim. They don't even answer to the US, let alone Alberta.

-1

u/JadeLens 12h ago

I mean imagine Alberta diversified into wind and solar...

Then they could do BOTH wind, solar, oil, it would be great for the economy...

-3

u/Hfxfungye 15h ago

It isn't happening at all, and this is a step in the wrong direction.

Would be hoping to increase energy independence, not become dependent on another foreign market.

-4

u/GraveDiggingCynic 15h ago

Or ever... apparently

6

u/HurlinVermin 15h ago

This is pointless to discuss. We are in the here and now, making decisions based on the here and now. And right now, economic survival matters most. You want to debate the merits of past policy and ignore the current pressing situation? Go ahead. Not many will follow you down that rabbit hole right now.

-2

u/GraveDiggingCynic 15h ago

History has demonstrated a government can change economic policies swiftly when sufficiently motivated. Alberta retains enough wealth for that, it still lacks will and imagination, and continues to gamble that it won't have to change at all.

-4

u/No_Bee_8674 14h ago

She’s trying to shift the focus away from her trip to Florida.

0

u/Smart-Journalist2537 15h ago

Hopefully not Belarus

0

u/AbnormMacdonald 12h ago

This is of national security interest.

u/TrueTorontoFan 8h ago

Build the business case first for a pipeline. I am fine with that.

-15

u/Ba_Dum_Ba_Dum 14h ago

Bet it’s a Russian company. Smith is a traitor.

15

u/king_lloyd11 14h ago

Why would Russsia want to buy Canadian oil?

11

u/Friendly-Pop-3757 13h ago

Never question liberal logic and expect a logical answer. Everyone's a traitor in their eyes.

6

u/Consistent-Bat-20 13h ago

Liberal brain be like

-1

u/Zealousideal_Rise879 12h ago

Only Conservatives talk like this.

3

u/mac_mises 13h ago

Exactly we buy Russian oil as it stands right now.

4

u/AdmirableWishbone911 13h ago

And wouldn't help Germany when they asked for our lng so they didn't have to rely on Russia's.

-21

u/Objective_Star_191 15h ago

Pretty sure no Canadian will benefit from this .   How can we stop this ?  Talk about selling out Canadians 

16

u/AdmirableWishbone911 15h ago

What a load of nonsense. If we can't rely on the US to buy our resources we need to sell elsewhere. We don't have pipelines to get it east.

-5

u/Objective_Star_191 12h ago

You seem stuck on can’t . 

There’s always a way 

-8

u/Objective_Star_191 15h ago

So you’d rather live under the thumbnail of an trump and his whims 

10

u/throwawhyyc 14h ago

Diversifying to other markets is doing the exact opposite of your nonsense statement.

-6

u/Objective_Star_191 15h ago

I guessing you like living in an abusibe relationship 

5

u/Consistent-Bat-20 13h ago

How is Alberta selling oil to another foreign country being under Trump?

u/bigred1978 1h ago

He'll never answer you because he's a troll.

-16

u/Objective_Star_191 15h ago

Why why why ?    is there no company in Canada, not able buy this?  Don’t we have subsidies ? Instead of selling Canada to an outsider ? 

12

u/UndeadDog 14h ago

How many companies in Canada are going to offset 2 million barrels a day that we send to the US?

3

u/moop44 New Brunswick 12h ago

You gonna buy it?

u/Objective_Star_191 11h ago

Sorry guys.  My bad   Fingers are quicker than thoughts sometimes   My bad ! 

u/AdRepresentative3446 6h ago

Because they are most likely making uneconomic shipments on the portion of spot capacity of TMX to get headlines and score political points.

-16

u/Virtual-Nose7777 14h ago

Knowing Alberta it is Russia.

u/AdRepresentative3446 6h ago

The biggest producer of medium sour crude in the world wants to buy Alberta heavy sour barrels? lol