Collapse of oilsands boom would scramble the Canadian economy
Disregarding global warming and the risk of putting all your eggs in one basket, the Harper government has bet Canada`s economic future on the oilsands. But do we want to return to a time when Ontario consumers paid half a billion dollars to subsidize an imperilled Alberta oil industry, with two-thirds of its capacity shut in for lack of sales?
At risk are hundreds of billions of dollars in jobs, government and industry revenue, and capital investment. Essential to diminishing hopes for an oilsands bonanza are three proposed pipelines, costing $17 billion, to move oil to the U.S. Gulf Coast and to the West Coast for tanker shipment to China. There is no certainty they will be built ` even assuming government authorizations.
Read the full article here.
Disregarding global warming and the risk of putting all your eggs in one basket, the Harper government has bet Canada`s economic future on the oilsands. But do we want to return to a time when Ontario consumers paid half a billion dollars to subsidize an imperilled Alberta oil industry, with two-thirds of its capacity shut in for lack of sales?
At risk are hundreds of billions of dollars in jobs, government and industry revenue, and capital investment. Essential to diminishing hopes for an oilsands bonanza are three proposed pipelines, costing $17 billion, to move oil to the U.S. Gulf Coast and to the West Coast for tanker shipment to China. There is no certainty they will be built ` even assuming government authorizations.
Read the full article here.