The decision by the Alberta Government to provide a billion dollars in fossil fuel subsidies to build Keystone on the heels of laying off 26,000 education staff yesterday is reprehensible. Thread 1/ #cdnpoli
Given the price of oil, the pandemic and the climate emergency this move makes Canada even more vulnerable to lurching from crisis to crisis. 2/
Change is hard but there is a reason even the @IEA is advocating to put clean energy at the heart of any stimulus package iea.org/commentaries/p…
The @IPCC_CH clearly stated that if we are to meet our ambition of keeping warming below 1.5C that global oil production needs to shrink by 37% by 2030 and by 87% by 2050. And lets not forget our own country has committed to netzero overall emissions by 2050.
Keystone and TransMountain were predicated on a $85 price for a barrel or more. Now its $5. For years experts have been warning Canada that as demand slows due to climate policy & drop in price renewables and batteries high cost high carbon oil will be priced out of the market
We need to invest in Canada in supporting oil and gas workers but propping up new fossil fuel projects and infrastructure with Billions in taxpayers dollars will not save these companies. Not when many countries including China have committed to phase out the fossil fuel cars
Oil & gas & pipeline companies are performing at the bottom of the S&P & have record bankruptcies.Oil companies in Alberta have been increasing production while laying people off, giving less back in royalties, requiring huge subsidies & leaving massive toxic public liabilities
Governments job is to protect public good. Its time our country faced that whats good for these big companies is no longer whats good for Canadians. No amount of bailout & subsidies for these companies or big pipelines will save them when the world is phasing our fossil fuels
Back to our current reality, regardless of what you think about the future of fossil fuels and Canadian oil you should be outraged that Alberta is laying thousands of people off and then giving a Billion dollars to TransCanada
Our ability to move forward and build the cleaner, safer economy Canadians want is being held hostage by big oil.
Was just checking on status of #KXL and it there are still 70 landowners in court over eminent domain and Holt County has denied TC their construction permit. So...again this is a good investment of taxpayers money?
and I will just leave this here for context "Climate change has become a defining factor in companies’ long-term prospects...awareness is rapidly changing, and I believe we are on the edge of a fundamental reshaping of finance." CEO of Blackrock Larry Fink blackrock.com/corporate/inve…
