Alberta Premier Danielle Smith boasted in June that a private sector proponent for a new bitumen pipeline to British Columbia’s coast would come forward “within weeks.” Three months have passed and exactly zero companies have bet their own money to back up the pipeline hype constantly coming from Smith. 

Prime Minister Mark Carney announced the first tranche of infrastructure projects to be fast tracked by the federal government, which also conspicuously included no bitumen pipelines.

What gives? It is almost as if the oil industry does not share the giddy enthusiasm of the Alberta government for somehow doubling the province’s heavy oil production.

Perhaps companies have been reading recent news, which has not been good for those still believing that oil prices and demand would justify billions in long-term investments.

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