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By Pierre Poilievre

Canada has achieved the impossible in energy economics: Our consumers pay sky-high costs and our energy companies get rock-bottom prices.

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For example, B.C. motorists recently paid what might be the highest gas price in North American history, at about $1.70-a-litre. Meanwhile, in neighbouring Alberta, the petroleum industry has lately received the lowest oil prices in modern history.

Why?

With no new pipelines to tidewater, Western oil can’t earn world prices. And with insufficient east-west pipeline capacity, it can’t reach Eastern refineries either. So in the West, Canadians sell low to the Americans, while in the East we buy high from Saudi Arabia and Algeria. “Over the last 10 years, Canada has spent $20.9 billion on Saudi crude,” reported the National Post, last year.

Everywhere, we buy high and sell low

Same with electricity: Hydro-Québec is trying to sell more low-priced power into the northeastern U.S. for a fraction of what Ontario consumers are forced to pay next door.