LETTER: Canada is not getting full value for its oil

LETTER: Canada is not getting full value for its oil

Editor:

Once again, we are hearing about protesters on our streets and blocking access to key facilities such as BC Ferries and, generally speaking, interrupting our lives.

The most recent protests revolve around pipeline projects – both natural gas and oil.

Currently, all Canadian oil finishes up in the U.S., where the current price of a barrel is C$45.96 a barrel compared to U.S. oil, which is C$78.47 – a difference of $32.51 a barrel, the reason being that because we have no means of getting our oil to a port, all Canadian oil is shipped to the U.S.

Canada produces 5.27 million barrels a day.

Just imagine if we could get our oil to world markets and be paid the full U.S. price – Canada would have an additional $62.53 billion injected into our economy each year.

Those opposed to shipping oil from B.C. and who predict spills and related catastrophic events are not supported by the facts.

Each year, more than 850 oil tankers transit from Alaska south to U.S. waters, with 450 entering Juan de Fuca Strait, within five nautical miles of Vancouver Island.

These tankers transit both the Gulf and San Juan Islands to and from oil refineries in Canada and Washington state.

In fact, 110 million cubic metres of oil moves through B.C. waters by tanker, 42 million cubic metres in the bunker tanks of container and bulk-cargo ships, and 48 million cubic metres by barge and tug.

Have you ever wondered who organizes these protests and where the financial support comes from and who is manipulating their mindset?

The majority of the funding originates in the U.S., from organizations such as the Gordon and Betty Moore Foundation and the Rockefeller Brothers Foundation; rather ironic since the Rockefeller fortune originated from J. D. Rockefeller who made his fortune from oil.

If you are interested in learning the facts behind the funding from these protesters I would suggest you watch a documentary called Over a Barrel created by Vancouver Researcher Vivian Krause, it is a real eye-opener.

Ken Harrap, Surrey

Letter to the Editor