That silly Leap Manifesto -- giving itself away right in the subtitle, which calls for "a Canada based on caring for the Earth and one another." No wonder it provoked fury and outrage.
Canada's big banks are cutting credit lines of struggling energy companies, heaping more financial strain on an industry battered by the collapse in oil prices.
Bank of Nova Scotia, Royal Bank of Canada and National Bank of Canada are among those reducing credit lines as the lenders complete their semi-annual review of borrowing limits in the hard-hit energy sector.
“I won’t let up,” Alberta Premier Rachel Notley told delegates to the NDP’s national convention last week. “We must get to ‘yes’ on a pipeline.” She repeated that message Saturday, asking the convention to support “pipelines to tidewater that allow us to diversify our markets.”
In doing so, Premier Notley just became the latest Canadian politician to play games with pipelines. She’s telling Albertans a pipeline to tidewater can cure what ails the industry. It won’t — it can’t — because the problem a pipeline to tidewater was intended to address doesn’t exist anymore.
[Webpage: Note that this artticle refers to new investment.]
Wind and solar have grown seemingly unstoppable.
While two years of crashing prices for oil, natural gas, and coal triggered dramatic downsizing in those industries, renewables have been thriving. Clean energy investment broke new records in 2015 and is now seeing twice as much global funding as fossil fuels.
The idea that greater pipeline capacity and access to tidewater would maximize the value Alberta receives for its tar sands crude is a standard talking point for industry, politicians, and other commentators in the ongoing oil price-induced recession in Alberta.
This briefing note counters this argument with analysis that shows that even if Alberta had expanded access to tidewater today, in the form of pipelines to east or west coasts, it would not be any better off.
I was there the day it was sworn in, when thousands of people filled the legislative grounds. I was there when the first cabinet with full gender parity in Alberta’s history was sworn in. I cheered when - after years of an unfair tax system creating unequal burdens – the government raised corporate taxes. I cheered again when your government helped get the money out of politics.
Beijing has high hopes for the new Trudeau government.
On October 20th, 2015, Prime Minister-elect Justin Trudeau received a congratulatory call from China’s ambassador Luo Zhaohui. The next day, the state-run China Daily newspaper celebrated “improved prospects for a Free Trade Agreement with China” under Canada’s new Liberal government. A week later Premier Li Keqiang himself picked up the phone.
The oil sands are downsizing. Alberta's Big Oil CEOs are talking to environmentalists. And proposed oil pipelines are in serious trouble.
Those were the takeaways from a trio of experts who spoke in Vancouver Wednesday at a "Carbon Talks" event hosted by Simon Fraser University with the David Suzuki Foundation and the Centre for International Governance.
And the reasons for them have a lot less to do with vocal activist opposition or the Trudeau government's climate commitments than they do with the brute forces of the global marketplace for oil.
