The Trans Mountain Pipeline expansion (TMX) is probably the most polarizing issue heading into October’s federal election. One side of the argument wants to shut-in Alberta oil to reduce carbon dioxide emissions. The other side wants a robust Canadian energy sector while green technology advances to the point of displacing hydrocarbons. Tough call, as good arguments are held in both camps.
I worked on the rigs as a geologist prior to entering journalism. In a small way, I’m one of the foot-soldiers of wealth generation in Canada. I follow the pipeline issue. What I’m hearing right now scares me…and we’d better get ourselves sorted-out before it’s too late.
The emerging facts of Canada’s struggling energy sector are like a scene out of The Manchurian Candidate. As detailed by vetted researcher Vivian Krause, there has, over the last decade, been a deliberate campaign by U.S. funded environmental groups to devalue Canadian oil and gas. The campaign is working. Resource investment is leaving Canada, while American oil and gas is booming. Kinder Morgan took a $4.5 billion payment from Canadian taxpayers for TMX – and left Canada to invest the money in safer jurisdictions.
Other major energy companies are in flight – curtailing the money supply for our social programs. It’s getting harder and harder to do business. The result is recession level unemployment in the West, ballooning deficits nationwide, and high taxes. As our resource sector falters, it becomes difficult to service the national debt, which costs Ottawa $30 billion a year in interest payments.
I’ve already lost some of you – and that’s alright because it’s time to leave the kiddie pool and dive into the deep-end of truth. And the truth? Canadians are asleep. While we slumber under the misguided notion that our global neighbours are benevolent, the Canadian economy is being manipulated. We have what other people want. Canada is the attractive girlfriend. Our best defence is the Prime Minister, an incompetent trust-funder who said the budget would balance itself.
Without proper pipelines to tidewater, we are relegated to selling most of our fossil fuel to America…our main competitor. The price for Western Canadian Select oil plummeted to around $11 dollars a barrel prior to the Alberta Government imposing a production cut. At its peak, our economy was hemorrhaging cash at rate of $100 million a day. It gets worse, because none of this is helping the environment or reducing carbon dioxide emissions – things we all care about.
When the Trudeau Liberals succeeded in scuttling the Energy East Pipeline, they – by default, continued to endorse the offloading of approximately 1 million barrels of foreign oil into Canada every single day. Instead of domestic oil, which is produced under the highest environmental standards in the world, we are forced to import energy from – take a deep breath – America, Saudi Arabia, Azerbaijan, and Africa. A stand-up comedian couldn’t write a better routine, especially in B.C., where the Province simultaneously campaigns against Canadian oil via the TMX, investigates high gas prices, and buys gasoline from Washington State refineries.
If we stop long enough to listen, we might hear a voice crying out in the wilderness. The voice, although dim, belongs to Green Party leader Elizabeth May, who recently aligned herself with Jason Kenney and Andrew Scheer by calling for a ban on foreign oil imports. No matter your political stripe, it’s time to wake up. The world is turning into a frontier biker bar filled with geopolitical hooligans like Donald Trump, Vladimir Putin, and Xi Jinping. Beautiful Canada, the coveted economic backwater, sits at the bar drinking soda water with a lemon twist.