My mother was in Calgary a few weeks ago to visit, and to look for a condo so she could spend more time with her astonishingly beautiful grandchildren. She had her pick of places. Cheap, too. Condos that were listed for $50, $60, $70,000 less than what they had been purchased for only three or four years ago.
Earlier this week, Teck Resources Limited—a company that mines coal—withdrew its application for its Frontier project, an oil sands mine that was to be situated in northeastern Alberta. The letter it sent to accompany the news was a masterclass in communications; an elegant example in how to make the most out of cutting your losses.
“Global capital markets are changing rapidly and investors and customers are increasingly looking for jurisdiction to have a framework in place that reconciles resource development and climate change, in order to produce the cleanest possible products. This does not yet exist here,” the letter noted. The withdrawal also spared the Prime Minister the terrible inconvenience of approving a project that would have further tarnished his environmental bona fides.
And when #Wetsuweten stops trending on Twitter, the media, the protesters, and the environmentalists supporting the hereditary chiefs and land defenders objecting to the line will move on, oblivious to the economic, social and political damage they’ve left behind in pursuit of a more perfect, petrochemical-free world. And, trust me, they—we—will move on. We always, always move on.
Regulatory approval is now implacably political, which ensures it will also become the object of leverage. Do you think a future Conservative government would fail to delight in such a prospect? Where have you been?Likewise, if Teck was the bellwether indicator that triggers broader disinvestment in the oil and gas sector, the country will feel it.
Tombe provided some quick and dirty context: He estimated that if Alberta had not suffered a recession, the federal deficit would have been $13 billion smaller in 2019.Total capital investment in Alberta in 2014 was about $98 billion—that’s an astonishing amount, considering the total capital spending in Canada amounts to about $250 billion. In 2019, spending in Alberta had fallen below $59.7 billion.
The transmission lines for wind power will be blocked by eco warriors also. FREEZE IN THE DARK
sheilawalker73 The oil party needs to be over and time to rely on only renewables (Solar/Wind) or we will all soon perish
Gosh nobody realizes that if the world stopped producing oil and gas today 5 billion people would starve to death.
CanadaAction I haven’t seen a protest over giant solar fields.
CoryBMorgan Yes, and all roads lead to the Scuts of Canada taking up space in Ottawa. Need me to name the names? Think not! The level of corruption has reached new highs. Pretending to care while working behind our backs to kill Canada.
Nothing but net jengerson
Trudeau’s Canada. Take a bow eastern Canada.
I’m neither happy nor sad about O&G projects getting cancelled. All levels of government need to start pouring seed money into projects for renewable and clean energy. The fact that many conservatives in the west are so insufferable is just an irritation
Wexit Wexit Wexit
Every so often Maclean’s prints a good one, and about the carbon tax, when has a tax ever fixed anything, the purpose of the tax is to influence behaviour (drive less). The tax is not high enough to change behaviour and in most places alternative transportation does not exist.
Game, set and match to Ms Gerson. The rest of you can go home now.
There's an issue when land claims are facilitated by actions of genocide. Hard to think of this place as democratic when politicians are so easily bought.
Unless they’re located in Quebec.
'... where every major fossil fuel project is a target...' There, fixed it for you. Tilting at windmills, oh the irony.
Jen 'Don't worry Doug Ford will be fine' Gerson? Nah no thanks. H-h-h-hackkk
With thoughts like this it is a miracle you are still in business or is it the bribe money that keeps you solvent.
If major projects that should be rejected by legislation are instead pushed through then defended by armed guards then what the F*** do you expect? IF you don’t want protests then do something sane.
Nobody is happy that Alberta is having problems right now, any more than when other provinces had problems. The issue for many non-Albertans is (IMO) that there are logical solutions to the current problems, and apparently none are being considered. Why not?
With completely useless leadership in Ottawa this country is finished. Time to leave for anyone with the means
Trudeau & his filthy ilk are destroying Canada. Good luck!
The Liberal plan unfolds
CoryBMorgan
CoryBMorgan Major projects in Quebec don't face obstruction 1. Port Daniels cement plant 2. LNG pipeline and plant 3. Sewage dumps into St. Lawrence Maybe Macleans should write on that instead of having Mr. McKenna write on how Canada is not broken
CoryBMorgan Published with an oily cover every time!
charlesadler So I guess you don't drive ….FOOL!
I'm sure someone else will reduce their per capita emissions so we won't have to. What about you Azerbaijan? You don't have any asphalt deposits with infrastructure to turn it into oily sludge!
Lurking in the background of all these pro-oil articles, whether stated or not, is the notion that climate change is not to be taken seriously. To even begin to write these articles with a straight face requires that you completely ignore the climate reality.
Didn’t you write a column saying Doug Ford was ‘going to be alright’?
The government has ceded the moral authority to govern to people who literally want to shutdowncanada.
Meanwhile, outside the Delusional Canadian GreenTard Bubble, the amount of global oil production continues to go up and up and up.
The problem is that it's not the decline of an industry people are celebrating. It's the smug arrogance we detest.The entitled decadence. The attitude they are exempt from social and other rules. That's what people resent.
ShelKenn I expect Jenn Gerson to write this, and Maclean’s to publish it, but I thought better of Sheldon Kenney to retweet it.
Not every major project. The LNG pipeline and Terminal being built in Quebec has face little of the MSM scrutiny that other projects have and very little of the Gov't oversight. Why is that?
WEXIT !!!! It’s time let’s not wait for more insanity from these liberal fools who don’t realize yet what they have done ! Trudeau is a drama substitute teacher for crying out loud he shouldn’t have been prime minister ever !GOD HELP US ALL !
5 years ago Canadians became puppets
Not me. I made my money and will relocate.
charlesadler We have foreign powers hovering over us. The US wants bargain bin oil/exports/currency protection. Russia is a huge competitor now and China’s investments are changing who obviously pushed Encana away (49.9% owned)
There have been several major projects that have been a target of obstruction, all by the Trudeau government and all with full support of central Canada and the media including Macleans
charlesadler Not every major one. Only the ones that endanger people and the planet. Maybe we shouldn’t do those ones.
Lol...look at all the mouth breathers cheering you on Jen. Feeling proud of your latest 'hot take'?
jennifer_cirka
To everyone that re-elected JustinTrudeau especially all of you in the 416/905 that voted liberal. Bravo 👏🏻 well done on destroying this once proud nation !!!
Actually Canadians suffer from being perpetually asked to publicly subsidize Alberta's dying toxic extractive industry through fossil fuel mega-projects for which no convincing economic case can be made. That's what everyone suffers from. CDNPoli
Well written -
Glad to see Maclean's agrees that Canada is broken.
pretty sad,but that's what Ontario, Toronto, wanted hope they're 100000 jobs there for us.
Curious, if everything’s so great and wonderful how come the Fed’s are racking up such large spending deficits? You’d think they’d have surpluses....
Saw a report today that China's CO2 is down 25% since Coronavirus quarantined everyone. So, if people don't work or travel, it can be acheived... that's what some want for Alberta.
Only logical answer is for Alberta and Sask. to form their own alliance, either distinct society clause like Que, (who does whatever it wants anyways and sucks cash), or just separate. Status quo, they become the Maritimes, except colder. Can, is indeed broken, probably for good.
jengerson Over? The world suddenly stop using all petroleum products? Macleans you need to come to Alberta and work as hard as our energy sector folks.
jengerson How will progressives pay for their extremely selfish feel good programs without an economy.
acoyne jengerson Jen: When Wetsuweten stops trending protesters /environmentalists supporting hereditary chiefs, those objecting to line will move on, oblivious to economic, social, poli damage left behind in pursuit of a more perfect, O&G-free world. It's morphed to waging war v colonialism.
jengerson Another great article Jen! Unfortunately factual.
jengerson That thar are some good words of wisdom. Well done!
jengerson But at least the government was diligently saving for this rainy day. Oh wait.
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