Democracy Gone Astray

Democracy, being a human construct, needs to be thought of as directionality rather than an object. As such, to understand it requires not so much a description of existing structures and/or other related phenomena but a declaration of intentionality.
This blog aims at creating labeled lists of published infringements of such intentionality, of points in time where democracy strays from its intended directionality. In addition to outright infringements, this blog also collects important contemporary information and/or discussions that impact our socio-political landscape.

All the posts here were published in the electronic media – main-stream as well as fringe, and maintain links to the original texts.

[NOTE: Due to changes I haven't caught on time in the blogging software, all of the 'Original Article' links were nullified between September 11, 2012 and December 11, 2012. My apologies.]

Thursday, January 24, 2013

Canadians 'Subsidize' American Energy Consumers, Says Brian Ferguson, Cenovus CEO

CALGARY - The CEO of oilsands company Cenovus says each Canadian is subsidizing U.S. energy consumers to the tune of $1,200 annually through cheap Alberta crude.

Brian Ferguson told a CIBC investor conference says a lack of pipeline capacity is a major issue not just for the industry, but for Canadians.

A report by CIBC last year said Canada's oil industry was missing out on $18 billion a year because of the steep double discount its crude it gets in relation to both U.S. and global benchmarks.

Ferguson figures the price gap, or differential, has since widened to be about double that to $36 billion.

He says he supports — quote — "all pipelines going everywhere" so that there are multiple market options for Canadian crude.

The differentials have had a big impact on Alberta's all-important oil revenues, with Finance Minister Doug Horner warning earlier this week that his March 7 budget will not be a "fun" one.

Original Article
Source: huffington post
Author: The Canadian Press 

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