It's the NDP who say recovery is just around the corner. It justifies keeping the spending spigots open for the moment rather than acknowledging the new long-time reality and tightening belts accordingly.

The insiders are suggesting $45-55/bbl oil may be the new reality for the next 15 years. While far from the heydays, it's still enough to make a profit. Moreover, if they can move more product, the profit will be even higher as their fixed costs can be amortized over larger volumes. Hence the need for more pipeline capacity.