Canada needs to “stand on our own feet” and establish its own refining capacity as the country looks to shift energy trade away from the U.S., British Columbia Premier David Eby said. “If we’ve got tens of billions of dollars to spend, I think we should spend it on a refinery, and we should develop oil products for Canadians and for export, instead of being reliant on American and Chinese refineries to do it for us.” (CTV News)
Talking point: Eby is dusting off an old debate in Canada’s oil sector. Economists have for years rejected the idea of building a new refinery within Canada’s borders, saying the upfront costs are too high to justify the investment; on Tuesday, experts had a similar response to Eby’s latest proposal. Others, meanwhile, see a domestic refinery as a way to bring added value to Canada’s exports. Eby has opposed Alberta’s efforts to build a new crude oil conduit to the West Coast, but his energy minister, Adrian Dix, said the province is open to further expanding the Trans Mountain pipeline.
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