It looks like Canada could be in for a long and drawn out oil price slump now that Trump has a plan for Arctic Oil production. This could mean the world could be awash in even more oil than it is right now and for the foreseeable future.
With more and more green energy being introduced around the planet and the US set to go on an oil hunting binge the prices could soon be so low that Canadian oil workers might be in worst shape than they already are. Already the Trump regulations on Canadian Softwood are shutting down eastern mills and a new looming oil war could mean even more job losses up North.
Trump has a plan for Arctic Oil
It is hard to imagine oil companies spending big money to develop expensive offshore oil fields when they have an ocean of cheap oil sources and new drilling and fracking technologies they can access without putting out the big money for Arctic expropriation of new oil.
What about the global warming and the damage that could be done to the delicate balance of the ecological systems of the northern environment? No one seems to be worried about it down south and seem to have no desire to switch to safer ways to develop new energy sources.
Trump figures thousands of new jobs will be created in the North for oil workers. This is a little over optimistic when thousands of jobs have been lost in the oil fields of Canada and the fracking frenzy of the central states for lack of demand. Anybody check out the oil prices lately, they are not exactly going through the roof.
Why would the Yank Oil Barons spend billions on expensive northern oil extraction and exploration when they could use the mighty US buck to siphon cheap Canadian oil for years to come by building safe and affordable pipes running right to their front door.
All one has to do is look out their window and see the crazy weather around the planet with new records being broken daily for extreme weather and realize the last thing this planet needs is more drilling, fracking and exploration of oil, especially in delicate ecological systems such as the Arctic.
It seems almost ludicrous when a government can spend billions of dollars implementing new legislation and the next one that comes along spends billions undoing it. Look out Mr Polar bear, here come the yanks.