Comment: When oil is landlocked, so is prosperity

Imagine if Brian Epstein had never seen the Beatles. If John, Paul, George and Ringo had continued to play “undiscovered” in the Cavern Club, how many people would have heard them; what would their estates and copyrights be worth today?

Hard to imagine. Such squandering of natural gifts.

It’s not a lot different, when you think of it, for Canada’s natural resources. And squandering, in effect, is what we’re doing today with the economic potential of our oil resources. They are effectively landlocked due to the inability to get the barrels to seaport and a broader market. Alberta’s oil is locked to North America, especially U.S. distribution, which cuts the per-barrel price by about $14, as of August, when Alberta crude was selling for about $31 a barrel.

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