Environment Canada has been telling us for years that Canada is running off the climate track and -- because of growing emissions largely from the oil and gas sector -- we are getting farther and farther away from meeting our government's self-imposed climate targets. Because of that climate failure, Canada is holding all of us back from prosperity, jobs and better health. That's according to a new study of benefits from international emission pledges made in the lead up to December's UN climate summit. Developed countries around the world -- with the exception of Canada and Japan -- are unveiling their individual climate plans, which were due yesterday.
First, Keystone XL does NOT "bypass the United States," as the President claimed it did in the earlier statement. A consultants report from IHS Energy found in February that "Canadian crude making its way to the USGC (the US Gulf Coast) will likely be refined there, and most of the refined products are likely to be consumed in the United States."
Canada's negotiators are working hard to sidestep the issue of the country's growing greenhouse gas emissions from the oil and gas sector while simultaneously keeping quiet about the oilsands as nations come up with their "intended nationally determined contributions" in the global climate agreement.
So let's do the math here: three pipelines stretching 4,197 kilometres, generating tens of billions of dollars in profit, the vast bulk of which will leave Canada, for 228 permanent jobs at Enbridge, 50 at Kinder Morgan and 35 at Keystone XL. That's 14 jobs per kilometre. A word to the wise -- don't leave your day job.
Once the carbon bubble, like the tech or housing bubble, pops it would bring dramatic re-evaluation of oil companies, resulting in massive layoffs and major industry restructuring. In Canada, the oilsands represents two per cent of the country's GDP and 90 per cent of the economic benefit goes to Alberta.