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Currently the middle east is responsible for most of

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Unformatted text preview: 2.3 billion as shown in the Price Increase Impact chart below: From: Hughes, David J. "The Northern Gateway Pipeline: An Affront to the Public Interest and Long Term Energy Security of Canadians." Global Sustainability Research Inc. 1 (2011) This is because if oil prices cannot rise by $2 ­$3 a barrel then there will not be any profits for Enbridge. But raising the price of oil has consequences for the general public. The side effects of raising the price of oil are shown in the chart below: In 2006, this project was announced on the assumption that China would be a major buyer of Enbridge’s oil but now it seems that Enbridge has overestimated the demand for crude oil in China. The Chinese have recently invested over $1.5 trillion 5 Memo to Brian Sutherland Nothern Gateway Pipeline – Aboriginal people of B.C October 21, 2012 From: Andrew Zhu, Student USD into finding alternatives to crude oil. These alternatives include:  ­Alternative fuel cars  ­ Biotechnology  ­ Energy Saving and Environmentally Friendly Technologies  ­ Alternative Energy  ­Advanced Materials  ­ New Generation Information Technology. Even with this being said, Enbridge plans to restrict supply to Canadian and US purchasers by cutting 23% of the Canadian market and 15% of the US markets to meet the demands from North East Asia. Currently the Middle East is responsible for most of the oil in North East Asia, supplying 90% of Japan’s oil and 60% of Korea’s. This only leaves the Chinese market open for Enbridge to tap into. But as China invests substant...
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