Western newsletter: Experts pour cold water on Alberta premier’s pitch for a new refineries [Toronto Globe and Mail (Ontario, Canada)]
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Source: Toronto Globe and Mail
Good morning, it’s Alberta bureau chief James Keller. There’s an idea that inevitably comes up in any debate about one of Canada’s many raw exports. Are timber prices low? Then make lumber or chairs, instead. Why not make bread instead of wheat? And when it comes to oil – especially when prices are low – why aren’t we refining it in Canada instead of shipping it away? Refineries haven’t made sense to Alberta’s oil sector in a long time. They’re incredibly expensive, take years to plan and build, and the global demand is in raw crude, not refined fuels such as gasoline and diesel. A newly built refinery in Alberta – the first in nearly 35 years – required help from the province and is now struggling. But that hasn’t stopped the Alberta government and others from repeating the same argument that the best answer to persistently low oil prices is to upgrade or refine the oil at home. Story continues below advertisement Alberta Premier Rachel
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- Tuesday's analyst upgrades and downgrades [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
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