The UCP’s Keystone XL pipeline investment shows where Alberta’s priorities lie [Toronto Globe and Mail (Ontario, Canada)]
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Source: Toronto Globe and Mail
The UCP’s Keystone XL pipeline investment shows where Alberta’s priorities lie Alberta Premier Jason Kenney delivers a statement on the construction of the long-delayed 8 billion dollar Keystone XL crude oil pipeline project, in Calgary, on March 31, 2020. TODD KOROL/Reuters Alberta Premier Jason Kenney delivers a statement on the construction of the long-delayed 8 billion dollar Keystone XL crude oil pipeline project, in Calgary, on March 31, 2020. With Western Canadian heavy oil priced around US$5 a barrel, and worldwide consumption of crude down by as much as 25 per cent , Jason Kenney’s decision to put billions of public dollars on the line for the building the Keystone XL pipeline is the ultimate in countercyclical fiscal policy. The North American price for oil is now worth about one-third of what the Alberta government pegged it at in its most recent budget. Stockpiles of unneeded oil are building in tanks and ships around the world. Prices are so low for Western Canadian Se
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