Not quite true.
If you want to look at raw production costs, free from any refining or shipping etc. then the cost to produce 1 barrel from the oil sands is about $50-55 and this is dropping as the techniques become better. The fact that we ship most of the crude out of the country for refining and then ship it back adds huge costs.
Now think about our production vs consumption. We produce between 4.5 - 6 billion bbls/yr depending on whose report you read, we consume about 3 billion bbls/year.
So if you want to talk about the oil industry contributing to our well-being the best way would be to increase the refining capability in Canada to match consumption, make it law that all the oil producers and refineries have to be Canadian owned, supply ourselves entirely at a much reduced cost and sell the leftovers to the highest bidder.
And just a little FYI - I see no value ina $4 cup of java from starbucks and have no I dea how they justify it.
I'm not sure how much refined product is shipped back from the US. I think Canada refines almost all the product it produces. I know this is true in western Canada but maybe a bit is purchased in eastern Canada, but it can't be much.
Building refineries is very expensive and nobody wants a refinery in their back yard, every says we should have more refineries until it comes to building one in ones back yard, then it's a different story. In Canada, it takes about seven yrs, from initial study phase to initial production, to build a refinery. They are not cheap.
I am dead against the government making any laws that makes financial decisions for the oil companies or any other private business. That idiot trudeau tried that and royally screwed it up. Not only for the oil companies but for the provinces and workers as well. I could tell you a lot of stories about how he negatively affected many peoples lives, that fk head!!
The oil companies will follow the money, if it makes financial sence to build in Canada, they'll do it, if it doesn't, they shouldn't. That's the way it should be!
Keep those idiots in Ottawa out of making financial decisions for private business, let private business do what it dies best and let gov do what it does best,,,errrrr raise taxes !!
