Liberals Reviewing Chinese Ban on Oilsands Ownership

[wolfhunter]

I wonder if it has anything to do with the $1 million contribution the Trudeau foundation got from the communist Chinese billionaire gave.

[silver]

Originally Posted by TBD

... is that China already has billions invested in AB's oil sands, and they'll be a strong partner in applying pressure to our liberal gov't so that these pipelines get built.

win - win

I don't see the problem here.

I think I do.

They are going to want to bring their own people over here to work. They don't seem to know or care about safety. Check out what happened at CNRL Horizon project.

If the oil is going to be extracted, it should be done by Canadians. That way the wages stays here and our workers gain time in trade.

[Bitumen Bullet]

Originally Posted by silver

.....If the oil is going to be extracted, it should be done by Canadians. That way the wages stays here and our workers gain time in trade.

I would suggest that resources belong to the provinces so the work should be done by Albertan's, then Western Canadians.....

And being satisfied with just having the jobs that comes from extracting keeps economies at an early stage of development, dependent on imports usually from the same market the country exports raw resources to.

So I would agree the wages stay here, and resources in the ground if we have full employment, but I would also suggest the resources stay here, to be exported as products rather than raw resources. The worlds advanced economies did not get that way by continuing to exporting raw resources, far from it, almost all have severe restrictions on such practices, so should Alberta.

[silver]

Originally Posted by Bitumen Bullet

I would suggest that resources belong to the provinces so the work should be done by Albertan's, then Western Canadians.....

I do agree with you on this part...I have been up on the projects and there were crews were hardly any body spoke english.
There are a couple of provinces in this country that want to keep the work for their own, one wants you to take a glorified orientation course and pay a fee and then maybe they will let you in. The other province would have you believe they educate and train their workers to such a high standard, nobody else can match it.
On of the things about this country, it was supposed to guarantee labour movement.
If you won't let others work in your province, your people shouldn't be able to work out of province

[TBD]

Originally Posted by silver

I think I do.

They are going to want to bring their own people over here to work. They don't seem to know or care about safety. Check out what happened at CNRL Horizon project.

If the oil is going to be extracted, it should be done by Canadians. That way the wages stays here and our workers gain time in trade.

Originally Posted by CBintheNorth

I don't have a problem with selling the products, I have a problem with selling the assets.....fixed assets on our soil.
Pipelines-good.
Selling the oil in the pipelines-good.
Producing the oil to put in the pipelines-good.
Selling the companies responsible for taking the oil out of the ground-bad.
Selling the land that the oil exists in-bad.

doesn't have the capital or cajones Ft Mac needs in the next few decades, all these arm chair quarter backs on here ... "we need to add value here -- we need to move up the supply chain with value add .... we don't need foreign cheap labour tak'n our jobs" ... blah blah

... as they re-invest their savings in another 3 month GIC for one and a quarter


TBD


PS ... do you think the finance wizards Justin has working on our CPP fund is investing in the development of Ft Mac - now ?

... Are Canada's big education unions investing their pension funds in Ft Mac to support and help us grow ?

If it wasn't for foreign investment --- American, Chinese and European the last two decades -- We'd still be at post 90's production levels in Ft Mac !

This is one of the largest petro reserves in the World, and it needs international investment and support to stay relevant.

[Bitumen Bullet]

Originally Posted by TBD

This is one of the largest petro reserves in the World, and it needs international investment and support to stay relevant.

Then why are other large reserves nationalized or heavily regulated and controlled? It seems most of them tried the methods you suggest and it didn't work for them, though it was profitable, for some.

[TBD]

with the largest proven oil reserves are ... 1) VENEZUELA 2) SAUDI ARABIA and 3) CANADA

... let's use Venezuela as our example.

where the first oil wells were not drilled until the 1910's

in fact Venezuela's oil industry didn't start to grow until several concessions to explore and produce were granted to foreign oil companies.

By the end of the 1930s, Venezuela had become the third-leading oil producer in the world.

Up till the beginning of WWII Venezuela boomed and had a lot of the problems that have been mentioned. First Dutch Disease, then with growth Xenophobia to foreign oil and gas companies and their workers.

Venezuela's answer - nationalize.

.... and we all know where that has led them

[Newview01]

Originally Posted by TBD

with the largest proven oil reserves are ... 1) VENEZUELA 2) SAUDI ARABIA and 3) CANADA

... let's use Venezuela as our example.

where the first oil wells were not drilled until the 1910's

in fact Venezuela's oil industry didn't start to grow until several concessions to explore and produce were granted to foreign oil companies.

By the end of the 1930s, Venezuela had become the third-leading oil producer in the world.

Up till the beginning of WWII Venezuela boomed and had a lot of the problems that have been mentioned. First Dutch Disease, then with growth Xenophobia to foreign oil and gas companies and their workers.

Venezuela's answer - nationalize.

.... and we all know where that has led them

I would like to think we have more capability than Venezuela to extract and refine our natural resources without having to rely on foreign investment.

[Bitumen Bullet]

Originally Posted by Newview01

I would like to think we have more capability than Venezuela to extract and refine our natural resources without having to rely on foreign investment.

Indeed but many Canadians honestly believe they, we are, too stupid or lazy or corrupt to exploit our own resources, to built an advanced economy, so we must remain as hewers and drawers for those much richer, smarter and wiser.

It is a good story for those who have been benefiting for over 150yrs from Canada's resource and commodity based economy. And of course throwing in a little Red Menace propaganda works still works well with some groups when trying to keep a country from waking up to or exploiting their wealth and responsibility to benefit citizens.

NOT that I think there isn't risks with building a better country. All advanced countries took those risks and dealt with them to varying degrees. Canada for example should look carefully at the history of resource rich nations bordering nations or nation with far superior military strength.

Even with those issues in mind Canada is by far the most resource rich per capita nation on the planet and yet is still in debt and dependent on the export of raw resources. Risks are already being taken and for me it's hard to see how being in so much debt while being so wealthy for so long can be considered low risk.

Many, including Canadians, think this is the best we can do and I get that. After all we are not as bad off as many other resource rich nations who have remained remained dependent on the export of raw resources, some in Africa come to mind. So I do think they have a point and should make it.

It's just that I think, and feel I must point out, that we can do much better, and were on the path of doing so not that long ago. Just getting back to using our resources in Canada to build our nation, defend our own borders, and employ our own people and businesses would be an excellent start.

To do that we first need to profit much more from the export of raw resources (or leave them for future generations) and then as most other wealthy countries do restrict the export of raw resources, wealth. Counties including the USA have many restrictions on the export of raw resource and who should be OK with us using similar polices to develop our own country.

Even more so now that they will have a President that suggests trade should benefit those doing the trading.

[Bluedog]

I personnel think we need a shift in the way Canadians think!
CANADA 🇨🇦 FIRST MOVEMENT!!

[.257Weatherby]

Originally Posted by CBintheNorth

Excellent. So they don't want us to sell our resources because they want to sell us out. Got it.

And it will have only cost China $1500 per plate to get a piece of Fort Mac.
Fantastic news all around.

I was thinking the same thing, funny that their is not an uproar over the concept.
Silly Shiny Pony, no more trough for you the one term wonder....I can only hope.
Rob

[Okotokian]

I'm fine with increased foreign investment/ownership in the Oilsands. I'm just not in favour of state-owned or communist party controlled companies being allowed to own and control such a strategic resource. If it's a truly private Chinese company, fine.

oh, and as long as Canadian companies have the same access to the Chinese resource sector and economy.

[TBD]

Originally Posted by Newview01

I would like to think we have more capability than Venezuela to extract and refine our natural resources without having to rely on foreign investment.

to petro-canada ?