Perhaps before beaking-off before a camera, Mr. (Challenges the Prime Minister's education) Poilievre could spend a couple of minutes researching his subject matter. Small wonder he quakes in the presence of a world renowned economist with a PhD. Resource leverage applies to many natural materials.
I think compartmentalized agreements with Europe with regard to trade and defense are important. I do not think we should entertain joining the EU. Much as I respect Ursula von der Leyen, Canada requires its own structural autonomy.
Canada produces a heavy crude oil but from what I've read, we have very limited capacity to refine it so we export it to the US to be refined and then import it. I do not know if the US refineries are required to sell it back to us or if they would be able to see it elsewhere should they so choose. The Canadian east coast apparently imports light sweet crude. Do we not currently have some gaps in respect of which stockpiling would be prudent?
I agree with that. It just seems stupid to send our oil to the states for refining at all...especially when we then buy back the finished product. Or do I have this wrong? Separation from the US, in my mind, is paramount in these turbulent times. And the sooner the better. I am no expert, just an average Canadian citizen. I may not have all the facts right, but this is what I have gleaned from various sources over time.
I hadn’t heard that PP was talking about having an oil reserve.
He seems to latch onto many ideas that sound good but are easily found to be implausible
DM79, the idea of a strategic reserve isn’t new... the U.S. has one.
The question is whether it actually makes sense for Canada given how our oil industry and infrastructure are set up.
Perhaps before beaking-off before a camera, Mr. (Challenges the Prime Minister's education) Poilievre could spend a couple of minutes researching his subject matter. Small wonder he quakes in the presence of a world renowned economist with a PhD. Resource leverage applies to many natural materials.
Pete, the politics will do what politics does.
The bigger question is how Canada positions itself long-term...
especially if we start leaning more toward Europe.
I think compartmentalized agreements with Europe with regard to trade and defense are important. I do not think we should entertain joining the EU. Much as I respect Ursula von der Leyen, Canada requires its own structural autonomy.
Pete, I’m with you on this.
Closer cooperation with Europe on trade and defence?
That’s just smart diversification.
But full integration or anything resembling “joining” the EU…
that’s a different animal entirely.
Canada works best when it keeps its decision-making at home...
while building strong, strategic partnerships abroad.
You don’t trade one dependency for another… you build options.
So wise
Poilievre doesn't understand our role in the system, or he wouldn't be pushing that Canada should stockpile oil.
Carol-Ann, there’s definitely a bigger system at play.
Canada’s role isn’t just production... it’s how we fit into refining,
transport, and global markets.
That’s what makes simple ideas like stockpiling a lot more complex in practice.
Too bad we don't have refining ability here in Canada. Would that not change the scenario for us?
Carol-Ann, you’re onto something... but here’s the part most people miss…
Canada does have refining capacity. We’re not starting from zero.
The issue isn’t “no refineries”... it’s where they are and what they’re built to process.
Most of our oil is produced in Western Canada, while a big chunk of our refining capacity sits in Eastern Canada…
which has historically been set up to handle imported oil, not Western crude.
So what happens?
We export raw oil… and import refined fuel in some regions.
Not because we can’t refine it... but because the infrastructure doesn’t line up cleanly.
Would building more refineries change things?
Yes… but now you’re talking...
Tens of billions in cost
Years (or decades) to build
Environmental approvals
Market risk (especially with global energy shifting)
And here’s the kicker…
Even if we refined every drop ourselves, we’d still be tied to global prices.
Oil is a world market... not a local one.
So yes, refining matters.
But it doesn’t solve the bigger issue.
Thank You, Fred, for explaining the whole picture.
That helps Fred. We had at least 2 refineries in the lower mainland of Vancouver. Ioco and Burnaby. Can they resuciated? Who knows, and to what end
Canada produces a heavy crude oil but from what I've read, we have very limited capacity to refine it so we export it to the US to be refined and then import it. I do not know if the US refineries are required to sell it back to us or if they would be able to see it elsewhere should they so choose. The Canadian east coast apparently imports light sweet crude. Do we not currently have some gaps in respect of which stockpiling would be prudent?
Dale, you’ve got the core of it right.
Canada produces a lot of heavy crude, and much of our refining capacity...
especially for that type... is tied into U.S. systems.
So yes, we export it, it gets refined, and some of it comes back.
There’s no guarantee it has to come back to us first... it’s market-driven.
And you’re also right about the East Coast...
it often imports lighter crude because it’s easier to refine and closer by tanker.
So the “gap” you’re pointing to is real.
The challenge is that stockpiling isn’t just about volume...
it’s about what type of oil, where it’s stored,
and whether you can actually refine and distribute it when needed.
We need our own refineries.
Rhonda, I get the instinct... more refineries sounds like more control.
But here’s the reality…
Canada already has refineries.
The issue isn’t having none... it’s that our oil production and refining system don’t line up neatly across the country.
Building new refineries would cost billions, take years, and still wouldn’t insulate us from global oil prices.
Even fully self-refined fuel would still be priced on the world market.
So yes... refining matters.
But it’s not the silver bullet it sounds like.
Another brilliant piece I intend to share. Hopefully your ‘spot on’ column will get through to those hysterical people who take their cue from PP.
I agree with that. It just seems stupid to send our oil to the states for refining at all...especially when we then buy back the finished product. Or do I have this wrong? Separation from the US, in my mind, is paramount in these turbulent times. And the sooner the better. I am no expert, just an average Canadian citizen. I may not have all the facts right, but this is what I have gleaned from various sources over time.