The theoretical or “ideal” carbon-pricing system has never been implemented.
Kinder Morgan stopped all “non-essential spending” on the $7.4 billion project due to regulatory, legal and political barriers.
Capital investment in Canada’s oil and gas sector declined by an estimated 44 per cent from 2014 to 2017.
The proposed Enbridge Line 3 pipeline would carry 760,000 barrels per day from Alberta to Wisconsin.
Cenovus recently announced it will cut production from some of its oilsand projects.
The recent move by Kinder Morgan on the Trans Mountain pipeline was a massive blow to Canada’s investment attractiveness.
Business investment (excluding residential structures) is down nearly 20 per cent since the third quarter of 2014.
Without adequate access to pipelines—the cheaper and safer mode of transportation—there has been a shift to more crude-by-rail.
In Ontario, the government expects to rake in $2 billion per year through its cap-and-trade program.
Price controls led to long lineups and dry tanks at gas stations.