David Hughes evaluates Trans Mountain pipeline expansion project
November 19, 2020
Post Carbon Fellow David Hughes is mentioned in the Tyee, reporting that oil producers would actually lose money from the Trans Mountain pipeline expansion project.
From the article:
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Contrary to claims that bringing heavy oil to tidewater for export to Asia will fetch a higher price than in U.S. markets, Hughes’ report for the Corporate Mapping Project shows that when TMX is completed, Alberta heavy oil producers could lose $4 to $6 on every barrel of oil they sell. Higher transportation costs, lower market prices and a lack of oil refining capacity in Asian markets where TMX’s unrefined heavy oil might sell are key reasons why the project is a money-loser.