Oil sent on the planned line could supplant much of those imports and
give oil sands producers access to high - priced Atlantic markets for the first time.
Not exact matches
If there's a bright spot for the province, however, it's that the ongoing disruption of Alberta
oil sands production — estimated by the Conference Board of Canada to be about 1.2 million barrels a day, comprising nearly $ 1 billion in economic activity — has contributed to a rally in global
oil prices that could
give producers, and therefore the Alberta economy, a badly - needed lift once production is finally back on - line (assuming, of course, the fires are eventually extinguished and
oil sands operations escape serious damage).
Given that the pipeline is anticipated to create about $ 4 billion per year in profits to the Enbridge shareholders and
oil sands producers, these are odious profits that come at the expense of people in other countries and into the future.
However,
given the company's strong balance sheet, future growth plans, and the strong long - term potential future of America's shale
oil and gas production, I remain bullish on frac
sand producers in general, and US Silica specifically.