Yet a hypothetical new oilsands pipeline would not lower gas prices for Canadians, would not insulate Canada from volatile global oil markets, and would not make Canada more energy secure .
Alright folks, grab your hard hats and your sarcastic remarks because we’re diving into the murky waters of the West Coast Oil Pipeline. Spoiler alert: it’s not looking good.
First off, let’s talk numbers. The estimated cost of this beauty is a staggering $44 billion. That’s right, billion with a ‘B’. And when exactly is this pipeline projected to enter service? Oh, just around 2032 to 2034. Now, I don’t know about you, but by then I expect we’ll have replaced oil with something more futuristic, like unicorn tears or solar-powered hoverboards.
In case you missed it, the OECD (that’s the Organization for Economic Co-operation and Development for those who enjoy long acronyms) reported that oil demand peaked way back in 2005. Yep, you heard it right. 2005! That’s like saying your favorite flip phone is going to make a comeback. If you’re still clinging to that idea, let me introduce you to the world of solar and wind energy, which have been busy taking over like a boss while oil demand has been snoozing. And let’s not forget about electric vehicles (EVs). They’ve gone from 4% to 25% of new car sales in just five years. By 2035, the International Energy Agency (IEA) predicts they’ll be responsible for displacing a whopping ten million barrels of oil each day. If that’s not a wake-up call, I don’t know what is.
Now, let’s talk about the climate. Global temperatures have recently surpassed 1.5 °C above pre-industrial levels, and our remaining carbon budget is about as healthy as a fast food diet—exhausted within three years if we keep up the current emission rates. So, what does this pipeline do? Oh, just adds about 155 million tonnes of CO₂ per year to the atmosphere. That’s more than a fifth of Canada’s entire annual emissions. It’s like throwing a massive party in a room that’s already on fire and wondering why the smoke alarms are going off.
And for those who think carbon capture technology is going to save us—think again. The entire world’s carbon capture facilities combined only manage to grab about 65 million tonnes of CO₂ per year. That’s less than 0.2% of energy-related emissions. So, if you were hoping for a miracle, you might want to adjust your expectations.
Let’s not forget the financial liabilities involved. A little history lesson: the Kalamazoo River spill in 2010 cost over $1.2 billion. And that was for a 20,000-barrel spill! Imagine the damages from a full-blown pipeline disaster. Canada’s liability regimes cap damages at around $1.5 billion, which is cute but woefully inadequate. It’s like putting a Band-Aid on a bullet wound.
Now, here’s where it gets really interesting. Instead of pouring $44 billion into a declining oil market, why not invest in something actually growing? An east-west electricity grid, for example, could serve a national demand expected to double by 2050. Or how about diving into AI research, battery manufacturing, or even space ventures? These options not only support clean growth but also promise a return on investment that would make even the most ambitious stockbroker drool.
At the end of the day, the Building Canada Act asks what will make the country stronger and more resilient. Spoiler alert: a massive oil pipeline timed to coincide with the peak of global oil demand is not the answer.
So, to the powers that be, let’s direct our efforts towards the future—an energy grid, clean industries, and science projects that actually merit the title of national interest. Because if we keep heading down this oil pipeline, we might find ourselves in a sticky situation that no amount of sarcasm can fix.
In conclusion, the West Coast Oil Pipeline is like that friend who insists on holding onto their flip phone. It’s time to let it go and embrace the future. Cheers!
Inspired by: “West Coast Oil Pipeline” (r/climatechange)









