Much as Horgan is loath to admit it, the New Democrats are doing their part to drive up the price of gasoline
VICTORIA — Challenged again Tuesday to do something about soaring gas prices, Premier John Horgan repeated a call for the petroleum industry to invest in more refining capacity to serve B.C.
Anything to avoid admitting that a twinned Trans Mountain pipeline might free up more carrying capacity for delivering refined petroleum products to B.C. as well as the hated bitumen destined for Asia.“I would have preferred our federal government to, rather than buy an old pipeline and commit to a new one, that they invested in refining jobs either in B.C. or Alberta, and then we would be in a completely different place,” he told reporters one day last week.
Were such a nasty thing to be proposed for any location near the prime market of Metro Vancouver, I expect the coalition of persons against would be forming by sundown. Doubtless it would include more than a few supporters of the NDP and/or Horgan’s partners in power sharing, the Greens. Nor would the premier need to spend much time talking to the oil companies to discover other reasons why they wouldn’t risk scarce dollars investing in increased refining capacity to serve B.C.
Refineries cost billions of dollars and up to five years to build after they are approved. Margins are tight, especially in places with higher taxes and plenty of competition, so it can take 20 to 30 years to recover the investment.
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