<html xmlns="http://www.w3.org/1999/xhtml" xmlns:v="urn:schemas-microsoft-com:vml" xmlns:o="urn:schemas-microsoft-com:office:office"><head><!--[if gte mso 9]><xml><o:OfficeDocumentSettings><o:AllowPNG/><o:PixelsPerInch>96</o:PixelsPerInch></o:OfficeDocumentSettings></xml><![endif]--></head><body><div class="yahoo-style-wrap" style="font-family:Helvetica Neue, Helvetica, Arial, sans-serif;font-size:16px;"><div dir="ltr" data-setdir="false">Hello everyone</div><div dir="ltr" data-setdir="false"><br></div><div dir="ltr" data-setdir="false">I was driving my kid to work this morning listening to CBC Radio as they stated the Irving refineries lack the ability to process Tar Sands Oil. They have refineries based on cracking and it's not technically feasible to process Tar Sands oil using this process. </div><div dir="ltr" data-setdir="false"><br></div><div dir="ltr" data-setdir="false">So I looked online and saw this fact was well understood since 2013. <a href="https://thenarwhal.ca/oil-export-tar-sands-bitumen-cannot-be-refined-eastern-canada/" rel="nofollow" target="_blank" class="enhancr_card_9378812378">Oil for Export: Tar Sands Bitumen Cannot be Refined in Eastern Canada | The Narwhal</a></div><div><br></div><div id="ydp3a757de6enhancr_card_9378812378" class="ydp3a757de6yahoo-link-enhancr-card ydp3a757de6ymail-preserve-class ydp3a757de6ymail-preserve-style" style="max-width: 400px; font-family: YahooSans, "Helvetica Neue", "Segoe UI", Helvetica, Arial, sans-serif; position: relative;" data-url="https://thenarwhal.ca/oil-export-tar-sands-bitumen-cannot-be-refined-eastern-canada/" data-type="YENHANCER" data-size="MEDIUM" contenteditable="false"><a href="https://thenarwhal.ca/oil-export-tar-sands-bitumen-cannot-be-refined-eastern-canada/" style="text-decoration:none !important;color:#000 !important" class="ydp3a757de6yahoo-enhancr-cardlink" rel="nofollow" target="_blank"><table border="0" class="ydp3a757de6card-wrapper ydp3a757de6yahoo-ignore-table" cellpadding="0" cellspacing="0" style="max-width:400px"><tbody><tr><td width="400"><table border="0" class="ydp3a757de6card ydp3a757de6yahoo-ignore-table" cellpadding="0" cellspacing="0" width="100%" style="max-width:400px;border-width:1px;border-style:solid;border-color:rgb(224, 228, 233);border-radius:2px"><tbody><tr><td class="ydp3a757de6card-primary-image-cell" background="https://s.yimg.com/lo/api/res/1.2/wkMcsYhq92Knm7mvVyLUmQ--~A/Zmk9ZmlsbDt3PTQwMDtoPTIwMDthcHBpZD1pZXh0cmFjdA--/https://thenarwhal.ca/wp-content/uploads/2018/04/tar-sands-in-hands1.jpg.cf.jpg" bgcolor="#000000" valign="top" height="175" style="background-color: rgb(0, 0, 0); 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min-height: 175px;"><tbody><tr><td class="ydp3a757de6card-richInfo2" style="text-align:left;padding:15px 0 0 15px;vertical-align:top"></td><td class="ydp3a757de6card-actions" style="text-align:right;padding:15px 15px 0 0;vertical-align:top"><div class="ydp3a757de6card-share-container"></div></td></tr></tbody></table><!--[if gte mso 9]></v:textbox></v:rect><![endif]--></td></tr></tbody></table></td></tr><tr><td><table border="0" align="center" class="ydp3a757de6card-info ydp3a757de6yahoo-ignore-table" cellpadding="0" cellspacing="0" style="background:#fff;position:relative;z-index:2;width:100%;max-width:400px;border-radius:0 0 2px 2px;border-top:1px solid rgb(224, 228, 233)"><tbody><tr><td style="background-color:#ffffff;padding:16px 0 16px 12px;vertical-align:top;border-radius:0 0 0 2px"></td><td style="vertical-align:middle;padding:12px 24px 16px 12px;width:99%;font-family:YahooSans, "Helvetica Neue", "Segoe UI", Helvetica, Arial, sans-serif;border-radius:0 0 2px 0"><h2 class="ydp3a757de6card-title" style="font-size: 14px; line-height: 19px; margin: 0px 0px 6px; font-family: YahooSans, "Helvetica Neue", "Segoe UI", Helvetica, Arial, sans-serif; color: rgb(38, 40, 42); max-width: 314px;">Oil for Export: Tar Sands Bitumen Cannot be Refined in Eastern Canada | ...</h2><p class="ydp3a757de6card-description" style="font-size: 12px; line-height: 16px; margin: 0px; color: rgb(151, 155, 167);">The misconception with 'west-to-east' pipeline proposals like Enbridge’s Line 9 or TransCanada’s Energy East is ...</p></td></tr></tbody></table></td></tr></tbody></table></td></tr></tbody></table></a><div class="loadingSpinnerContainer" style="position: absolute; top: 0px; width: 100%; height: 100%; display: flex; align-items: center; justify-content: center; background-color: rgba(255, 255, 255, 0.3);"><div class="D_F F_n gl_C ab_C H_6MGW o_h"><div class="W_6MGW H_6MGW D_X ah_1PEzoz" data-test-id="loading_indicator"><svg class="W_6MGW H_6MGW ah_Zq6hUs" viewBox="0 0 24 24" width="24" height="24"><path class="cdPFi_n cZ13pKbK_Z2aVTcY cZ1XO2Ji_dRA c2abBOT_EY cZ1vNhDV_rd cZV8aCd_pI ah_14s73" d="M12,22C6.477,22,2,17.523,2,12S6.477,2,12,2"></path><path class="cdPFi_n cZ13pKbK_Z2aVTcY cZ1XO2Ji_dRA c2abBOT_EY cZ1vNhDV_rd cZV8aCd_pI ah_14s73" d="M12,2c5.523,0,10,4.477,10,10s-4.477,10-10,10"></path></svg></div></div></div></div><div><br></div><div dir="ltr" data-setdir="false">The CBC coverage today also notes there has been a 20% drop in the use of imported Saudi Oil since the Covid shut downs. Seems there is no pressure of demand with this excess in supply of conventional crude. </div><div dir="ltr" data-setdir="false"><br></div><div dir="ltr" data-setdir="false">Never the less, Irving did get approval to ship bitumen from Alberta but only via BC's coast line and that route requires a slight detour through the Panama Canal. </div><div dir="ltr" data-setdir="false"><a href="https://financialpost.com/commodities/energy/irving-oil-finally-gets-approval-to-source-alberta-oil-but-through-the-panama-canal" rel="nofollow" target="_blank">https://financialpost.com/commodities/energy/irving-oil-finally-gets-approval-to-source-alberta-oil-but-through-the-panama-canal</a><br></div><div dir="ltr" data-setdir="false"><br></div><div dir="ltr" data-setdir="false"><br></div><div dir="ltr" data-setdir="false">Interestingly I read this previous <span><span style="color: rgb(0, 0, 0); font-family: "Helvetica Neue", Helvetica, Arial, sans-serif; font-size: 16px;">CBC report from May 1, 2020 which states that </span></span>Irving intended to "increase it's use of domestic oil". This report states t<span><span style="color: rgb(34, 34, 34); font-family: "Open Sans", sans-serif; font-size: 16px;">he privately held refiner applied to the Canadian Transportation Agency (CTA) to use foreign tankers in order to increase the amount of domestic crude it gets from offshore Newfoundland and Western Canada. By i<span><span style="color: rgb(34, 34, 34); font-family: "Open Sans", sans-serif; font-size: 16px;">ncreasing the amount of Canadian oil the refinery uses it would displace the crude imports the company gets from around the world. However, it is not clear which shipments might be affected. They also said the<span><span style="color: rgb(34, 34, 34); font-family: "Open Sans", sans-serif; font-size: 16px;"> refinery uses a "significant" amount of oil from the United States.</span></span></span></span></span></span></div><div dir="ltr" data-setdir="false"><span><span style="color: rgb(34, 34, 34); font-family: "Open Sans", sans-serif; font-size: 16px;"><span><span style="color: rgb(34, 34, 34); font-family: "Open Sans", sans-serif; font-size: 16px;"><span><span style="color: rgb(34, 34, 34); font-family: "Open Sans", sans-serif; font-size: 16px;"><br></span></span></span></span></span></span></div><div dir="ltr" data-setdir="false"><span><span style="color: rgb(34, 34, 34); font-family: "Open Sans", sans-serif; font-size: 16px;"><span><span style="color: rgb(34, 34, 34); font-family: "Open Sans", sans-serif; font-size: 16px;"><span><span style="color: rgb(34, 34, 34); font-family: "Open Sans", sans-serif; font-size: 16px;"><span><span style="color: rgb(34, 34, 34); font-family: "Open Sans", sans-serif; font-size: 16px;">Alberta Energy Minister Sonya Savage said in this article that she is glad Irving Oil will begin using more Western Canadian crude, adding that Alberta produces enough to supply the country.</span></span><br></span></span></span></span></span></span></div><div dir="ltr" data-setdir="false"><br></div><div dir="ltr" data-setdir="false"><a href="https://www.cbc.ca/news/business/irving-oil-foreign-tankers-domestic-crude-1.5552393" rel="nofollow" target="_blank" class="enhancr_card_9290146755">Irving Oil targets summer for tanker shipments of Western Canadian crude | CBC News</a><br></div><div><br></div><div id="ydp7a664b44enhancr_card_9290146755" class="ydp7a664b44yahoo-link-enhancr-card ydp7a664b44ymail-preserve-class ydp7a664b44ymail-preserve-style" style="max-width: 400px; font-family: YahooSans, "Helvetica Neue", "Segoe UI", Helvetica, Arial, sans-serif; position: relative;" data-url="https://www.cbc.ca/news/business/irving-oil-foreign-tankers-domestic-crude-1.5552393" data-type="YENHANCER" data-size="MEDIUM" contenteditable="false"><a href="https://www.cbc.ca/news/business/irving-oil-foreign-tankers-domestic-crude-1.5552393" style="text-decoration:none !important;color:#000 !important" class="ydp7a664b44yahoo-enhancr-cardlink" rel="nofollow" target="_blank"><table border="0" class="ydp7a664b44card-wrapper ydp7a664b44yahoo-ignore-table" cellpadding="0" cellspacing="0" style="max-width:400px"><tbody><tr><td width="400"><table border="0" class="ydp7a664b44card ydp7a664b44yahoo-ignore-table" cellpadding="0" cellspacing="0" width="100%" style="max-width:400px;border-width:1px;border-style:solid;border-color:rgb(224, 228, 233);border-radius:2px"><tbody><tr><td class="ydp7a664b44card-primary-image-cell" background="https://s.yimg.com/lo/api/res/1.2/gvcwGICypr4M_GJZ4TE0jA--~A/Zmk9ZmlsbDt3PTQwMDtoPTIwMDthcHBpZD1pZXh0cmFjdA--/https://i.cbc.ca/1.5278581.1568157689!/cumulusImage/httpImage/image.jpg_gen/derivatives/16x9_620/vancouver-skyline.jpg.cf.jpg" bgcolor="#000000" valign="top" height="175" style="background-color: rgb(0, 0, 0); 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line-height: 19px; margin: 0px 0px 6px; font-family: YahooSans, "Helvetica Neue", "Segoe UI", Helvetica, Arial, sans-serif; color: rgb(38, 40, 42); max-width: 314px;">Irving Oil targets summer for tanker shipments of Western Canadian crude...</h2><p class="ydp7a664b44card-description" style="font-size: 12px; line-height: 16px; margin: 0px; color: rgb(151, 155, 167);">Refiner says it has regulatory approval for its plan, which would increase its use of domestic oil from offshore...</p></td></tr></tbody></table></td></tr></tbody></table></td></tr></tbody></table></a><div class="loadingSpinnerContainer" style="position: absolute; top: 0px; width: 100%; height: 100%; display: flex; align-items: center; justify-content: center; background-color: rgba(255, 255, 255, 0.3);"><div class="D_F F_n gl_C ab_C H_6MGW o_h"><div class="W_6MGW H_6MGW D_X ah_1PEzoz" data-test-id="loading_indicator"><svg class="W_6MGW H_6MGW ah_Zq6hUs" viewBox="0 0 24 24" width="24" height="24"><path class="cdPFi_n cZ13pKbK_Z2aVTcY cZ1XO2Ji_dRA c2abBOT_EY cZ1vNhDV_rd cZV8aCd_pI ah_14s73" d="M12,22C6.477,22,2,17.523,2,12S6.477,2,12,2"></path><path class="cdPFi_n cZ13pKbK_Z2aVTcY cZ1XO2Ji_dRA c2abBOT_EY cZ1vNhDV_rd cZV8aCd_pI ah_14s73" d="M12,2c5.523,0,10,4.477,10,10s-4.477,10-10,10"></path></svg></div></div></div></div><div><font size="3"><br></font></div><div><font size="3"><br></font></div><div dir="ltr" data-setdir="false"><font size="3">Interestingly in 2016 the Irving Oil President Ian Whitcomb said it would keep Saudi Imports even if Energy East goes ahead (which it didn't) <span style="color: rgb(25, 25, 25);">because it wants access to diverse suppliers. </span></font><span style="font-size: medium; color: rgb(25, 25, 25);">Imports from Saudi Arabia, which started when the refinery opened in 1960, are compelling because of the low cost of transportation on large tankers, he said.</span></div><div dir="ltr" data-setdir="false"><font color="#191919" size="3"><br></font><div><p style="margin-top: 0px; margin-right: 0px; margin-left: 0px; max-width: 100%; color: rgb(25, 25, 25);"><font size="3">“We will add Western Canadian crude to our portfolio as the economics dictate, but probably not at the expense of our Saudi barrels,” he said.</font></p></div><font size="3">The article states <span><span style="color: rgb(25, 25, 25);">Irving Oil, based in Saint John, N.B., runs Canada’s largest oil refinery. It processes about 320,000 barrels a day, including a third imported from Saudi Arabia, a third imported from the U.S., and the rest shipped by rail from Western Canada or elsewhere.</span></span></font></div><div dir="ltr" data-setdir="false"><font size="3"><span><span style="color: rgb(25, 25, 25);"><br></span></span></font></div><div dir="ltr" data-setdir="false"><a href="https://financialpost.com/commodities/energy/irving-oils-president-says-it-would-keep-saudi-imports-even-if-energy-east-goes-ahead" rel="nofollow" target="_blank">https://financialpost.com/commodities/energy/irving-oils-president-says-it-would-keep-saudi-imports-even-if-energy-east-goes-ahead</a><br></div><div><br></div><div dir="ltr" data-setdir="false">And by the way, here is a really neat video from Canadians for Tax Fairness on how the Irvings have mastered the art of aggressive offshore tax evasion. They like to create companies to hire and then they charge themselves outrageous prices creating what appears to be losses. In that way they can profit from government hand outs and lower tax rates because it looks like they're barely making money. It's an old system and it has worked very well for them in the past but fiscal and judicial prudence is catching up to them. </div><div dir="ltr" data-setdir="false"><a href="https://www.taxfairness.ca/en/news/how-irvings-built-empire-using-tax-havens" rel="nofollow" target="_blank">https://www.taxfairness.ca/en/news/how-irvings-built-empire-using-tax-havens</a></div><div dir="ltr" data-setdir="false"><br></div><div dir="ltr" data-setdir="false">Have a delightful day folks! </div><div dir="ltr" data-setdir="false"><br></div><div dir="ltr" data-setdir="false">Lulu :0) </div><div dir="ltr" data-setdir="false"><br></div></div></body></html>