U.S.-style oil megadeals viable in Canada, BMO energy banker says - BNN Bloomberg
www.bnnbloomberg.ca
A U.S.-style megadeal is possible in Canada’s oil patch, though the pressures that pushed Exxon Mobil Corp. and Chevron Corp. to pursue large takeovers aren’t as strong north of the border, says Bank of Montreal’s top energy banker.
    • Ransack@lemmy.dbzer0.com
      0·
      7 months ago

      Or hear me out here instead of selling out to companies from other countries that don’t give a single fuck about Canadians or companies that already operate here that once again give no fucks about the people that are employed by them we should take use and harness the resources that we have.

      While I’m neither pro nor con for oil, it’s one hell of a resource and we already have tons of people who are experienced in the field that could get put on for work.

      Now with that I would also like to also see the oil being kept up here in Canada instead of selling it to the states for pennies and then being brought right back up to be sold for dollars. Yes I am fully aware that this is an extremely simplified extrapolation of what is going on.

      One pipe dream if I may, is having our own public energy sector in Canada. Meaning in this case oil is drilled out by Canadians, with proper policies to take care of the land, where old wells and sites are actually cleaned up cared of. More directional drilling vs fracking. Employees are not abused to shit or have to work feeling that there is an axe at their neck based on global issues. And all of this goes to fellow Canadians so they are able to do as needed.

      The thing is we have larger issues in the country than just the over simplification listed above. So maybe, you are correct, just leave it in the ground.

      • xmunk@sh.itjust.works
        0·
        7 months ago

        I think nationalizing the industry (essentially) is a far better state than what we have now but, tbh, I suspect that if we looked at the amount of expected revenue, the amount of damage to extract that revenue, and the GHGs that oil would translate to… we’d probably find the balance lacking for the per capita savings. AFAIK from the environmental studies we’ve seen on previous site cleanup the externalities purely to drilling are pretty atrocious, when we also consider the refining costs, the GHG costs, the occasional disasters like Lac-Mégantic vs. the expected revenue per Canadian I honestly don’t think oil makes much sense.

        Going full green and getting the global clout for that while having a clean conscious is a much more appealing possibility.