Don’t Rush Out And Buy Enbridge Stock Just Yet
Don't rush out and buy any Enbridge stock just quite yet, because regardless of the Federal government's announcement yesterday that the project can go ahead subject to some conditions, it will be a long time before the first shovel full of dirt comes out of the ground.
Let's start with the population of the province of BC, with more than two thirds of them opposed to the project. That should be enough to get the attention of the federal government which has 21 sitting MP's in this province. Will the fallout from the approval affect them? Possibly.
The biggest stumbling block however is the First Nations of BC in whose territorries much of the pipeline is to cross. They will be in the courts until all avenues are exhausted. Terry Teegee, Tribal Council Chief of the Carrier- Sekani makes no bones about where his group will go, and they are not only powerful but have the upper hand because many land claims have not been settled over lands that fall on their territory and over which the pipeline is proposed to be built.
Buried deep in the issue is a matter which residents of BC have not yet dealt with. That is the fact that if the line and terminal can be built. The companies say in their pleadings that the price of crude is likely to increase by about $8.00 dollars a barrel ,that translates into an increase of four to six cents a litre for the fuel that you will buy, unless of course you can convince me that companies like SUNCOR, would not pass any increases onto the average motoring Joe.
So when we hear that the project will bring in about $300 billion dollars over a 30 year period, just what will a six cent a litre increase in gas prices cost you as a consumer over the next thirty years? Of course the federal government would be happy to have this happen because they then are able to get more tax money out of you at the pumps , while cashing in on the royalties.
The Mackenzie Pipe Line project sits blowing in the wind after being approved by the federal government , Enbridge will find themselves in a similar situation.
BC residents are dug in. Flashing fancy ads that show the company digging on black earth on flat ground on the prairies, can hardly be compared to what you would expect in BC .
So to repeat one's self, don't rush out and buy that Enbridge stock quite yet.
I'm Meisner and that's one man's opinion.
Comments
Seems like Harper kind of backed hisself into a corner with this one, all of his stomping holding his breath trying to get Obama to get Keystone on the road. He would have been more of a hypocrite than usual if he said no to this project. Given this governments legislative record of late I was glad to hear his decision though, it looks like his oil based ideology may have forced him to commit political hari kari. Can always hope so.
I for one am on board with Eagleone with respect to any petition to stop this stupidity.
I don’t think Stephen Harper had much political choice in which way this decision would go, considering his power backing. Whether or not it affects the next election drastically, remains to be seen.
I guess Enbridge better think about refining their product in Alberta before it ever enters a pipeline west, if they ever want a snowball’s chance in an oven, to get a pipeline across B.C.
Where is this 2/3 against vote? I have seen two poles and they came out in support of the pipeline.
Right now we get underpaid for crude going south and hosed for the refined product coming back.
5 years ago Enbridge stock was trading at around 20 dollars. Today its over 50 dollars.
“I have seen two poles and they came out in support of the pipeline.”
I’d run with this but Ben doesn’t need the grey hair….
Seamut……you were looking for poles, should have perhaps tried to find a poll.
There will be no pipeline built and there will be no new refinery built . New refineries are too expensive to build in Canada and besides the opposition to having them in anyones back yard will be too strong.
Thanks Ben, but I have already made a load of money on Enbridge stock.
One should keep in mind that this Country and BC in particular have little going for it in the job creation department.
Just look at the Northern Interior, where thousands of jobs have disappeared in the last 10/15 years.
Not sure how people think new jobs will be created without selling off our resources.
Things are going pretty good at the moment, however if you kill off the Pipeline, and we get a shift in the need for Natural Gas, we are in a bad situation.
Thousands of people depend on the Northern BC and Alberta oil industry for work. If they downsize, we suffer.
I think that we can say with some certainty that those people who are opposed to this pipeline, and other industrial growth initiative’s, do not have a history of creating any jobs in BC or in the Country. In fact they all live off the work and sweat of those that actually get things done.
At the very least these **keyboard complainers** should tell us how they would create work, and where they would get the money.
Its easy to critize others, however lets hear from the First Nations, the Green Party, NDP left wingers, etc; on how they would create jobs, to generate revenue, to pay the bills.
Lets not use the idea that we could run a pipeline East and refine the oil. Why would we propose to run a pipeline through other Provinces when we wont allow other Provinces to run a line through BC.
You hit the nail on the head, Palopu.
How many of those jobs will be given away to temporary foreign experts? BC is and will do just fine without this pipeline.
Well written Palopu. My socialist father said there are three groups of people in the world – Those who do (resource workers, millworkers, construction workers, truckers) – the people who make goods and services for us to consume.
Those who don’t (accountants, lawyers, teachers, doctors, nurses) – we’re not directly involved in the production process – we provide support activities
And those who get in the way – and it’s pretty clear who they are.
The problem is – without those who do, the other two groups can’t exist. BCTF is currently at war with the government demanding fair compensation for the kids, I mean teachers, where do they think the money comes from? Tourism? From taxes paid by teachers? No, it comes from trees we cut down, minerals we dig out of the ground, and that filthy oil from Alberta. If they can find a way to fund our country without doing the above, they’ll have my vote.
Palopu….you say thousands of jobs have disappeared…what you fail to say is those jobs were probably related to exploiting resources. Oil and gas is non-renewable. When it is gone is gone. What kind of future do you want, based on non-renewables? Yep, your comment is like beating heads on walls, feels good only if you stop. BC is extremely gifted, in renewables. Things we need to live that can repeat themselves. I work in the oil and gas business, I see people killing themselves with this type of strip the resources economy we have now, I want OUT, and will be doing so. Educate yourselves as to the alternatives, they are there and we have the wonderful country, what is left of it, to do it.
Palopu is a big supporter of Dutch disease. Kill off the manufacturing sustainable local economy so that globalist can make billions in arbitrage from our natural resources and labor markets. Rob from Peter to pay Paul principles in industrial economics and then claim to be the one that pays the bills….
Seamut writes:
” I have seen two poles and they came out in support of the pipeline.”
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Your inferior education and low brow are showing. Be ashamed enough to hold your tongue.
I don’t know Eagleone, but I get so sick of hearing of the economic benefits of pure exploitation. Completely ignoring the clean up costs, health costs, none of that factors in some people’s short sighted look at things. No jobs in renewables, I know a young lad who is training to service the multi wind farms in northern BC, extremely interesting career ahead for him. Technology roaring ahead on these things, and many others.
There are those who oppose everything. There are those who embrace all development at any cost. And there are critical thinkers who look at each project based on its merits and it’s risks. Who are you?
Well all you people who are opposed to the pipeline better show up at the rally Thursday at 5PM to show Harris, and the Conservatives how you feel.
I have a hunch most wont get of their asses to attend the rally, but will continue to complain from the comfort of their homes.
“There are those who oppose everything. There are those who embrace all development at any cost. And there are critical thinkers who look at each project based on its merits and it’s risks. Who are you”
I like to think I’m that guy. I agree, the pipeline has serious problems – but we have a bigger problem – as spoken by the prophetic band Queen.
“I want it all (give it all – I want it all)
I want it all (yeah)
I want it all and I want it now”
Everyone wants to consume in this society, and what we consume, if it comes from outside of our borders, must be paid for. And oil is what we got to give, in exchange for iphones, ipads, androids, ps3, xbox, cheap clothes, cheap food, cheap cars, and it goes on and on. I don’t see too many people parking their F350’s and switching to a compact car in order to save the planet.
We all pick our battles. Rational discussion is helpful. Ideology sucks!
The companies say in their pleadings that the price of crude is likely to increase by about $8.00 dollars a barrel ,that translates into an increase of four to six cents a litre for the fuel that you will buy.
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That’s the big problem. We will provide more money for a foreign corporation and it doesn’t end there. We are exporting more pollution to supposedly provide more jobs for us.
And here is the funny part why should government provide us with more jobs. What ever happened to free enterprise that should be driving our economy. We vote for Harper and then we want to be socialist where the government drives the economy.
Make up your minds what you wish for.
Cheers
Palopu, you seem to be under the grand illusion that Canadians will be working on the construction of the pipeline, if it ever gets to that point.
Chris Peter you having a tantrum? Chill out dude. You got no rational response?
Poles, I keep forgetting to spell check the spell check.
“In fact they all live off the work and sweat of those that actually get things done” .. generalize much? What as asshole you are.
Palopu states; âThousands of people depend on the Northern BC and Alberta oil industry for work. If they downsize, we suffer.â
Excuse me⦠other than you, who else is talking about âdownsizingâ the tar sands? Here is a win-win scenario for you: stop the Keystone XL pipeline, stop the Enbridge Northern Gateway Pipeline and stop the Kinder Morgan pipeline expansion project. So you know what will happen to the size of the tar sands operations and all those thousands of jobs?…. NOTHING, absolutely NOTHING, the tar sands operations would have to remain the same size, with the same number of people employed.
Remember folks, if all these NEW pipelines go through, it will allow the tar sands operations to EXPAND by 30%. Again, just to make sure all you Big Oil lovers get this; stopping all NEW pipeline projects will not downsize the tar sands industry, it will make that industry stay the same size, with NO JOBS LOST!!! Nice try Palopu, but you may want to frame your next argument in a more ârealisticâ manner!
Wow “huh”, profanity, name calling, and personal attacks in two threads. Nice work. Someone must’ve really peed in your corn flakes this morning — Either that, or you’re trying to get the ban hammer dropped on you.
As is your high brow chris peters.
peeps, another post, another stunning example of a paid NGO troll. Keep an eye on this guy 250…. criminalmind, people#1 ,humanbeing…..will surface again with more spam. I assume that someone at 250 is on this file. With yesterdays gateway decision it willl heat up and seeing hartguy getting hacked last week, it would be reashuring to know 250’s policy.
Comments Ben please.
Hmmm… two comments from dow7500 and both are shots at others comments on this discussion thread. His last one ends with an “I’m telling daddy” comment. Time to grow up if you want to converse with the other adults on this site dow.
Why I otta……Adults?…Really peeps?….looking forward to the summer. Please, i’m begging, don’t change your name…k.. BH, peeps,criminal,tool,spam king..I just don’t know where to stop.
Polls – I can’t spell well either, but that is hilarious.
Palopu writes, “I have a hunch most wont get of their asses to attend the rally, but will continue to complain from the comfort of their homes.”
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Really Palopu we need to organize a mob every time we want to have our civic input heard? Some people work for a living.
In a democracy we have a thing called a vote, and that is what counts when it comes to participation. In BC we have referendum legislation and this is where my vote counts. Voters in BC have every right to complain from the comfort of our homes, whether we are able to attend a political rally or not.
In a democracy our vote counts, and a political rally is merely an educational forum for those with open minds, a chance to shame the conscience of a person of influence if they have a conscience, and a marker post of protest by those on the leading vanguard of an issue. If one is unable to attend a rally because of other life commitments this does not negate ones right to participate in the vote influencing process by other means.
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