Canadian Capitalism

Justin Trudeau’s government announced on Tuesday that it would nationalize the Kinder Morgan pipeline running from the tar sands of Alberta to the tidewater of British Columbia. It will fork over at least $4.5bn in Canadian taxpayers’ money for the right to own a 60-year-old pipe that springs leaks regularly, and for the right to push through a second pipeline on the same route – a proposal that has provoked strong opposition.

That opposition has come from three main sources. First are many of Canada’s First Nations groups, who don’t want their land used for this purpose without their permission, and who fear the effects of oil spills on the oceans and forests they depend on. Second are the residents of Canada’s west coast, who don’t want hundreds of additional tankers plying the narrow inlets around Vancouver on the theory that eventually there’s going to be an oil spill. And third are climate scientists, who point out that even if Trudeau’s pipeline doesn’t spill oil into the ocean, it will spill carbon into the atmosphere.

Trudeau told oil executives last year that “no country would find 173bn barrels of oil in the ground and just leave it there”

If he’s successful, the one half of 1% of the planet that is Canadian will have awarded to itself almost one-third of the remaining carbon budget between us and the 1.5 degree rise in temperature the planet drew as a red line in Paris. There’s no way of spinning the math that makes that okay – Canadians already emit more carbon per capita than Americans, than Saudi Arabians.

Cleaning up the tar sands complex in Alberta – the biggest, ugliest scar on the surface of the earth – is already estimated to cost more than the total revenues generated by all the oil that’s come out of the ground. Meanwhile, when something goes wrong, Canada is now on the hook: when BP tarred the Gulf of Mexico, the US was at least able to exact billions of dollars in fines to help with the cleanup. Canada will get to sue itself.

History will remember Justin Trudeau: not as a dreamy progressive, but as one more pathetic employee of the richest, most reckless industry in the planet’s history. 

Taken from here
https://www.theguardian.com/commentisfree/2018/may/29/justin-trudeau-world-newest-oil-executive-kinder-morgan