Beyond the US Market: Canada Prioritizes Pacific Oil Exports with New Bitumen Pipeline MOU

One of the most significant and multifaceted issues in Canadian energy politics at the moment is the proposal for a brand-new bitumen pipeline that would reach British Columbia's west coast. To make this happen, a significant Memorandum of Understanding (MOU) was recently signed by the Federal Government and the Alberta government, led by Premier Danielle Smith.

The objective is straightforward: construct one or more new pipelines to transport a minimum of one million barrels per day of "low-emission Alberta bitumen" to a deepwater port in British Columbia for export, primarily to Asia. I am very doubtful the American Government will allow such oil independence, especially selling to Asia.

There have been comments from the American news and social media influencers suggesting that Venezuela should not be selling their oil to China and that Venezuela should be stopped! Does the Federal or Provincial governments in Canada really think the American bipartisan government would "approve" of such an economic move, selling oil at a higher price to Asia, compared to sending the oil to Texas, at a 50% discount to the Americans.

Equally important, this agreement requires Alberta people to accept strict new requirements, such as raising the industrial carbon tax and contributing to the financing of a massive carbon-capture project. Will such a project be more drain on the highest tax payers in Canada - the people of Alberta?