Joe, You Can Go Now

Why I’m really, really, really glad Joe Oliver isn’t Finance Minister anymore:

Keystone XL would have created jobs, bolstered ec growth, strengthened nat’l security, reduced GHG emissions and enhanced N Am energy indep
Therefore, disappointing President Obama rejected Keystone X. See yesterday’s article where I discuss implications. http://business. financialpost. com/fp-comment/..[thiscrapisntworthreadingfurther]
See my interview #CBC #newsworld on disappointing Keystone rejection & triumph of politics & symbolism over facts.

Enabling more bitumen to flow from Alberta would not lower GHG emissions, so you can bet the rest of his claims are false too.

The day before:

See my article in Nat’l @nationalpost on need to diversify energy mkts given likely rejection of Keystone XL.

So, is diversification of our economy a good thing, or do we want to focus only on oil and gas? Go and eat your cake Joe, and then have it too.

It’s a Gas

CCS, what is it good for? Absolutely money. Not for you and I, no, it’s good for oil companies.

We’re talking about this because the only “clean coal” plant isn’t working properly yet, and it opened over a year ago (late). The delay is costing SaskPower customers tens of millions of dollars in penalties to pay to the oil company Cenovus.

SaskWind explains:

350,000 tonnes will be permanently sequestered in Aquistore
Aquistore’s own web site describes itself as a “storage site for the world’s first commercial post-combustion CO2 capture, transportation, utilization, and storage project from a coal-fired electrical generating station”. However SaskPower, in its ‘Case for Carbon Capture and Storage’ confirms that Aquistore will permanently sequester only 350,000 tonnes, or 1.2%, of the of 30-million tonnes which will be captured at BD3. This small amount confirms that BD3 was only ever about providing CO2 for Enhanced Oil Recovery. In other words: the tiny percentage that is permanently sequestered at Aquistore is simply a fig leaf to disguise the true nature of BD3 – the production, at public expense, of CO2 for the oil industry.

-emphasis added

I’ve been writing about the true purpose of CCS for years and years. Others have realized it too.

We’ve roughly months left in the world to stop building coal fired electricty infrastructure, without certainly stranding those assets when we have to dismantle them in coming years before the plants recoup their investments.

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Liberal Big Tent May Be An Echo Chamber

Suzuki and Trudeau are both plain spoken people. They both strike me as straightforward. The difference is that Suzuki is much older and doesn’t appear to cater to anyone, while Trudeau obviously looks to his Liberal back-room advisers to tell him what way the wind is blowing. If the smoke is blowing at the young leader from his backside, and the Liberal string pullers want it that way, they aren’t about to save Trudeau.

Oil and Gas Still Not Four Letter Words?

Brad Wall, speaking directly to oil and gas men, remarked that he thinks Ottawa needs a “champion” of non-renewable energy. There’s been more than enough support for that industry in the past decades.

This is a good sector, that oil and gas are not four letter words. That they create untold quality of life and wealth for all Canadians. Let’s make that case.

“At one point, a list of dozens of items made from derivatives of petrochemicals were highlighted on a projector screen[…]

“The smartphones they use perhaps to send you angry Tweets about your industry or send you texts,” he joked.

It’s unclear if clean water or clean air that made Wall’s speech possible had been consumed by the Premier, or if he’d denied himself these things his policies aim to end. Clearly he’d have difficulty making arguments against having these necessities, without clean air and water throughout his life.

ADDED:

The detractors seem to think it is impossible for Saskatchewan to go fossil fuel-free because it’s cold. Actually, Saskatchewan engineers long ago pioneered energy efficient buildings that require little to no fossil fuel heating. What’s “wacky” is that we don’t have building standards that would make conventional heating obsolete and deliver thousands in energy savings.

What Are Market Predictions?

“Mon, Aug 17, 2015 – 8:15 AM
Bill Baruch, chief market strategist, iiTrader joins BNN to discuss why he’s watching crude oil to move sharply higher today.”
“oil will rally today” is the BNN video title, but I didn’t hear the trader say that, but he did say a rally by midweek. In the video he notes $35 oil is realistic in the near term (which was actually a better prediction), and it will be unlikely to rebound to $60 if production levels stay similar to now.

Crude’s drop below $38 marks ‘epic’ time in the oil market
Published: Aug 24, 2015 11:27 a.m. ET

The MarketWatch graph shows there was no rally on the 17th, oil finished the day down.

Quite the “midweek” “rally”.

In early trade on Monday morning, the price of West Texas Intermediate was down about 5.7% and traded as low as $38.13 a barrel, a new post-financial-crisis low for the commodity that has been getting hacksawed this year.

WTI prices are down about 60% against a year ago, and after finding some stability earlier this year,

If oil gets down to below about $30, the Tarsands are no longer profitable to exploit! No wonder the Premier of Sask is shitting bricks about his bet on oil while totally neglecting renewable energy investments.

Oil Is Not A Four Letter Word

Coal is a four letter word, however.

Perhaps Wall is a bit touchy about fossil fuels because Saskatchewan produces more greenhouse gases per person than any other Canadian province [link added], and is one of only three provinces whose emissions have risen since 1990. The province contains only 1 per cent of the country’s population, but produces a disproportionate 10 per cent of national emissions.

Saskatchewan recorded the highest deposit-paid bottle return rate in Canada (82 per cent) and largest wildfire detection camera system in North America, said the ministry.

Yet we had the worst wildfire season, perhaps ever, this Summer.

Until we get on top of the big industrial emissions we are going to have great trouble achieving the targets that have been set for the province,” said Coxworth.

“We are looking to beef up that part of our portfolio – with a quarter of our power production already renewable,” said Tremblay.

The ministry on Earth Day focused on what individuals can do in their everyday lives.

{Emphasis added, to highlight that what the ministry is doing is pushing responsibility for the problem off of themselves and onto the actions of individuals who cannot individually organize us into a more efficient system.}

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Brad Wall On “Sustainably Developing Our Energy Resources”

John Klein - Regina

Brad Wall says “…we need to do better in terms of more sustainably developing our energy resources…”

Unfortunately what he means is he wants to find ways of ensuring fossil fuels and uranium come out of the ground at an increasingly profitable pace, no matter the world’s demand/need for such things.
Greg Fingas views it as such, too.

He notes that oil pride goes “Before the fall”. (Although technically oil prices have already fallen.)

The government’s climate change policy works like this: extract every last drop of fossil fuel then pray to God that no one uses it.” – G. Monbiot
I’ll add that they hope no one uses it, so long as someone first buys it. Perhaps we need to consider if…

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