There will continue to be a demand for petroleum even in a world working to transition away from burning fossil fuels.
So it's important to develop new pipelines to not only open up access to global markets but also to reduce our dependency on imported oil from countries like Saudi Arabia.
“Last year, refineries in Eastern Canada imported more than $17-billion worth of oil,” said Chris Montgomery, manager of communications and engagement for the Canadian Association of Petroleum Producers during a recent interview at the Round Up's office.
The four main countries Canada imports oil from are Saudi Arabia, Venezuela, Nigeria and the US, he said.
Of all the pipeline developments that have occurred in recent years, not a single one has been to a coastal port. In fact they've all largely been to the US, which pays rock bottom price for Canadian crude, essentially taking us for a proverbial ride.
“We're in this situation because the US is now our biggest competitor, and they've brought on nearly as much oil and gas production in the last five years as Canada produces in its entirety,” he said.
“So we can't continue to rely on the US as our only foreign customer — we really do need to access those new markets.”
A West Coast pipeline would open access to markets in Asia while Energy East would connect western extraction with eastern refineries, playing the double role of opening access to new markets while reducing our dependency on imported oil.
“We've got this great resource in Alberta. We develop it more responsibly than anywhere else in the world. So why not provide that product — developed with Canadian values — to other Canadians?” said Montgomery.
While I might never be around to see it, I certainly look forward to a day when our vehicles — from planes and tractors to cars and trucks — can run on an alternate fuel source.
But the simple fact remains that we're unlikely to ever be able to build modern machines without petroleum products.
There seems to be a common misconception that petroleum extracted from the ground is destined to be burned as fuel. Those who are opposed to pipelines tend to echo the call to stop burning fossil fuels.
However, only about half of a barrel of oil is destined to become fuel. The rest becomes petroleum-based products, which largely make modern life possible. Some people even go as far as to contest that the finite resource is far too precious to burn as a fuel.
“Oil is extraordinarily valuable as the basis for so many products we use every day that the thought of simply burning it ought to be unthinkable,” reads an article by Kurt Cobb on oilprice.com.
So people who are calling to keep the crude underground better be ready to lead by example and give up all the technology that's made possible by petroleum-based products.
Because without this vital resource, we'd basically be going back to lean-tos and log cabins, which doesn't exactly sound like progress.
Since none of us are likely prepared to do that any time soon, we really need to prioritize developing the most responsible and efficient ways to extract the resource — and then reclaim the land — to get the best value for it while making every effort to reduce the environmental footprint to ensure long-term sustainability.
