I understand the oil is headed for export, and Canadian oil companies get the profits.
luv2safari; Top of the morning to you sir, thanks for supplying the interesting read for those of us who suffer from insomnia and such.
While I realize it's bucking a time honored 'Fire tradition, I have actually read the entire thread - twice now in fact - and thought that since it's still way too dark for me to head up the mountain behind our house to chase whitetail I'd type out a wee bit of Canuck perspective in case anyone is interested.
So first off I'm personally not aware of any oil company that is entirely owned by Canadians or perhaps better said where all the profits remain here. There appears to be joint ownership/partnering in all I've got investments with anyway and they are typically US partnerships so that money isn't travelling too, too far.
When you good folks had your election and whomever it was made the announcement about the Keystone vote, all the media up here immediately slithered over to Calgary to get a sound bite from someone high up in the Canadian oil industry.
Basically all of them said something like - "while that's nice to hear, we're not holding our breath for a quick resolution."
They all went on to say that Canadian oil exports into the US have been rising steadily in the time since all the Keystone talk began - whenever that was 5-6 years back now - and that while some of it is flowing south through other expanded pipelines most is traveling by rail now through the US heartland.
If anyone believes rail is safer than a pipeline, please read this link and then get back to us.
As I've said before on similar threads, we are going to continue working our oil patch - "pulling dragons from the ground" as Corb Lund would say. It's one of the main drivers of our economy up here so we have to - no question there for us.
Where it goes and who gets some residual benefit from it is honestly a secondary consideration for the oil producers.
Anyway I'll leave you with Corb's ode to our patch crew.
