Another example of governments’ “new denialism”: make green promises and mouth/legislate commitments to reconciliation with First Nations, but just keep on trampling both in the service of fossil fuel industry profits.
Canada’s parliamentary budget officer has provoked a fresh round of suspicion about the long-term profitability of the Trans Mountain oil pipeline and expansion project.
Forty billion dollars. According to Alberta’s fiscal update last week, that’s the huge sum by which oil and gas investment in the province is expected to plummet, from what was predicted as recently as in the February budget.
Trans Mountain confirmed a Valemount worker tested positive for COVID-19 last week.
A worker had been in the Valemount camp for two days when they were informed that one of the people they were in contact with (prior to coming to camp) had tested positive according to Trans Mountain.
The affected individual has been isolated.
“As per our COVID-19 protocols, the person was immediately isolated and continues to isolate within our separate quarantine wing,” said a spokesperson for Trans Mountain.
Imperial Oil just became the most high-profile Canadian oil producer to give up on some of its fossil fuel assets in Alberta.
“Imperial has re-assessed the long-term development plans of its unconventional portfolio in Alberta, Canada and no longer plans to develop a significant portion of this portfolio,” the company said in a statement after markets closed on Monday.
The company said would take an impairment charge of about $900 million to $1.2 billion in the latest quarter.
The oil and gas industry “likely won’t meaningfully reduce” its carbon pollution this decade without more government funding, according to a new Royal Bank of Canada report.
