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Norwegian-based oil and gas giant

The Keystone XL pipeline has been delayed for six years by President Barack Obama for political fundraising reasons, but it is a near certainty it will be approved when he's gone, either by a Republican president, or by Hillary Clinton who was supportive of it when she was secretary of state.

The new premier of New Brunswick may be against fracking, but he wholeheartedly approves of the proposed Energy East pipeline, taking oilsands oil to his province.

And Line 9, the Ontario pipeline, is being reversed. It now takes oilsands oil into Ontario, and will ultimately take it to Montreal.

Oil continues to move by rail in record amounts. Earlier this month, Suncor sent 700,000 barrels of oilsands oil by rail to Montreal, where it was loaded onto a tanker bound for Italy.

And this month Canada set a new record for oil exports to the U.S. - 3 million barrels in a single day. The growth was all by rail.

But if things are so good, why are things so bad?

Last week, Statoil, the Norwegian-based oil and gas giant, announced it was pulling the plug on a multi-billion-dollar oilsands project in Alberta.

The environmentalist war against the oilsands and its pipelines have just made investing in Canada uneconomic.

Part of the problem was costs. But "market access issues also play a role - including limited pipeline access which weighs on prices for Alberta oil, squeezing margins and making it difficult for sustainable financial returns."

Statoil does business in Libya. In Russia. In Myanmar, Algeria, Nigeria and Azerbaijan.

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