Post #3788626
2026-07-10 18:03 UTC
@datum@zeroes.ca @thenarwhal@mstdn.ca it needs subsidies because no investor wants to take 30y bet on an industry that's already collapsing.
The global price managed to collapse while the worlds largest producers in Russia and the middle east are unable to ship. What's the price going to do when Russia, Venezuela, and the entire middle east are shipping? It will be $30/bbl, and AB oil will return to its normal non-viability.
Replies (1)
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@datum@zeroes.ca 2026-07-10 18:05
@johnefrancis@cosocial.ca a big part of the article is how This is not economic for the industry, so this will be taxpayer-funded. And there’s no certainty about demand for this hypothetical oil that the industry does not seem willing to produce, although Smith has alluded to doing whatever she can to stimulate further oilsands production with additional provincial support in other words, even at current prices, this project's national economic impact is negative, no matter who pays; the actual projects completions are unlikely without heavily publicly subsidized greenfield expansion, which is the scenario with the greatest losses and harms done.