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this post was submitted on 16 Oct 2026
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This is the second time I've replied to you about this, the Canadian extraction and midstream fields are not overwhelmingly foreign owned. The midstream field for instance is mostly TC Energy, Pembina, Enbridge, Trans Mountain and Interpipeline, all Canadian Owned.
Upstream includes Ovintiv, Suncor, CNRL, Tourmaline, ARC, etc. Yes some of these have moved to the US but most are not.
Are these companies still oligarchs with are too much power? Yes. Are they foreign owned? No.
The new pipeline is an even more interesting one since it will be under Trans Mountain (federally owned crown corp). You couldn't ask for a better situation since the federal government can dangle that single asset over all of Alberta as both a carrot and a stick. Its literally a nationalized oil asset with profit going back into federal coffers for use elsewhere.
Edit addition for clarity: I agree with ALL your other statements.