July 21, 2017

BlackPearl Resources ditches Alberta: Another heavy oil project goes to Saskatchewan

Holly NicholasRebel Commentator

BlackPearl Resources is building a second heavy oil project on Onion Lake Cree Nation land in Saskatchewan— a mile away from the Alberta border. That’s because production costs will be $10 U.S. per barrel cheaper than if they built it in Alberta. 

And they’re not the only ones that have ditched Alberta for the time being and invested in Saskatchewan instead.

Husky Energy recently sunk a billion into their heavy oil operations in Saskatchewan as part of their low sustaining capital plan, and Crescent Point, a company headquartered in Calgary, made it clear that if the NDP weren’t willing to play ball, they’d sink their money into Saskatchewan, becoming that province’s largest oil producer.

Let this be a testament to all those who say low oil prices are the only thing killing Alberta’s oil and gas industry.

Not only do we have domestic and international companies fleeing the province, but we have companies parking their cash a mile away to avoid Rachel Notley’s carbon tax, higher corporate taxes and higher royalties.

Saskatchewan has everything these companies want except perhaps less potential to develop resources than there is in Alberta, otherwise more companies would be flocking to that province to reap the rewards of a more business friendly government.

Between pipeline stalls, taxes and emissions policies built to punish the oil and gas industry coming from both the federal and provincial governments, Alberta and Canada as a whole are looking less and less attractive for these companies.

Businesses want to make a buck, and a buck is a buck whether it’s in Alberta or anywhere else. And that’s something that the NDP just can’t seem to figure out.

Comments
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commented 2017-07-22 00:10:54 -0400
Bill Elder; Quite right and it’s about to get pretty lonely for Brad Wall. I think if he can make the right connections with the US he’ll be able to weather the storm until Alberta gets back on its feet. He has to win in court against the carbon tax though.
commented 2017-07-21 23:35:01 -0400
In the future the same left wing idiots who caused so much economic destruction will start demanding Sask hand out money to them.
commented 2017-07-21 17:52:25 -0400
The New Demoncratic Party does not care that they are losing businesses, for the simple reason they do not care about people. There a saying to the effect that socialists are all for humanity, it is just people they hate. Notley and crew are proof positive of this attitude, and Horgan will soon corroborate it.
commented 2017-07-21 16:12:39 -0400
Trudeau and Notley want Alberta to become a Ghost Province, they will then fill it with Muslims. Once this is achieved, the Tar Sands will be reopened, with money from the Trudeau foundation and Saudi Arabia. Notley and Trudeau will become Billionaires.
commented 2017-07-21 13:06:54 -0400
Globalists have taken Alberta energy off line, soon BC energy will be off line uder their new globalist puppet government, I think Brad Wall better watch his back because Sask energy shutdown is in Trudeau and globalist cross hairs.

The objective for the energy profiteers in the globalist cabal, is to create energy poverty in the midst of plenty, then profiteer on the legislated scarcity. BC is about to learn this lesson as their province has been handed over to foreign interests as Ontario and AB have.
commented 2017-07-21 13:04:00 -0400
Thanks again Nutley for destroying the Alberta economy. Cheaper by ten dollars a barrel in Sask.
about says it all. Jobs for Sask, Ontario you POS.
commented 2017-07-21 13:02:52 -0400
Low oil prices was never the issue in Alberta. Alberta has gone through far worse and did not have the losses it did with the NDP in charge.

Well, I live in Saskatchewan now because of the loss of jobs in Alberta because of Notley the destroyer, so I am happy Saskatchewan is getting the income.