"[The Goldman Sachs associated economists] are now in the process of discovering—as the neoconservatives found out before them—that while the American political class has almost limitless patience with corruption and venality, it has no tolerance at all for failure."
That quote is just a sideshow idea on the main thrust of the piece though. Read it.
"So, what should be done? The best environmental, economic and climate outcome would be to slow down the boom-and-bust cycle of constant expansion in the oil sands. What the late Peter Lougheed used to describe as the ‘traffic jam’ of feverish expansion in the oilsands prevents the construction of ancillary infrastructure, like upgraders and refineries.
The hyper-inflationary bubble that sits on northern Alberta is what makes it cheaper for Big Oil to build a $7 billion pipeline to Texas, rather than build facilities in Alberta. Any reasonable carbon plan would set a level of managed growth for oil sands production—say 2 million barrels of oil a day (more than the current 1.7 million barrels, but less than Harper’s goal of 6 million barrels of oil a day). That level of production could cool down the capital and labour markets enough to build upgraders and refineries near the resource. Then, we could be talking about shipping—by pipeline, truck or train—a finished product whose properties are better understood. Shipping a product with a far lower risk of environmental impact in the event of spills.
If we are thinking like a country, we should get Alberta oil to Eastern Canada, but we should not ship bitumen + diluents."
- Great Sun FinancialDirector, 2013 - present
- ALIA InstituteProgram Director, 2006 - 2013
- Green Party of Nova ScotiaLeader, 2008 - 2009
- LV Rogers Secondary
- University of Winnipeg
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