Canadian oil and gas companies to be removed from stock index
If the companies are to be removed from the index, the economic damage to the sector would be substantial.
If you listened to the message being pushed by Canada’s elites, you might think that Canada has a substantial role in the world, that other countries listen to us, and that we are “big players.”
But all of that is a delusion.
A delusion that Canada’s elites appear to be increasingly mired in.
In all the areas of tangible power, whether economic, military, or diplomatic, Canada is falling behind, and getting even weaker.
Our economic growth is weak, way below that of our neighbour to the south. Our energy industry is crumbling, with the US, Saudi Arabia, Nigeria, Iran, and other oil-producing countries the biggest beneficiaries of our self-inflicted damage to our own energy sector.
Our military is basically non-existent, resulting in a situation in which we not only can’t defend ourselves but can’t contribute in any meaningful way to our alliances like NATO.
And when it comes to diplomacy, Canada’s elites are stuck in a pathetic “soft power” delusion, where they think we somehow “punch above” our weight, yet have no evidence to back that up. In fact, our economic and military weakness is the main cause of our diplomatic weakness, as can be seen in how Communist China feels free to treat our Citizens and our nation like garbage while facing no repercussions.
Now, Canada, of course, has the potential to be an economic power, and our high level of technological advancement could give us the ability to have an efficient and effective military. That would boost our diplomacy, and give us some real power and influence in the world.
But that won’t happen so long as the elites in our political and business class continue living in a fantasy world rather than waking up to Canada’s severe challenges and weaknesses.
If our country can’t even get our own resources to market if we can’t keep our own country unified if we can’t defend ourselves, and we can’t stand up to countries that mistreat us, why would anyone respect Canada at all?
Canada’s elites attempt to distract from our weakness by repeatedly comparing our country to the United States, thinking that somehow makes our weakness and vulnerability acceptable.
Even worse, the mismanagement of Canada by the elitist class makes us far more dependent on the United States, which would be hilarious if it wasn’t so ironic and hypocritical.
At the end of the day, Canada is a country that is squandering our potential on a massive scale, and other countries must be stunned to see us do so little with so much. For that to change, we must reject the delusions being pushed by the corrupt elites and wake up to the reality of what Canada really is, and what Canada should be.
The PM sure has his work cut out for him.
Following the federal election results a couple weeks ago, Canadians from coast to coast will be looking to Ottawa to see how Trudeau tries to pull the country together, or doesn’t.
While the Liberals still hold a strong minority, they were completely shut out between Winnipeg and Vancouver and have lost the confidence of many western Canadians.
Although there are many factors one can cite for this complete collapse of support out west, chief among them is the failure of the Trudeau government to get any pipelines built from Alberta to the west coast.
Much of this challenge was brought about thanks to the government’s incompetence, intentional perhaps, given their stated goal of “phasing out” the oilsands. It makes one wonder if they actually want to get any shovels in the ground and pipe laid down.
While there is no need to rehash the failures of the past at this point, the challenge for the Prime Minister is what to do going forward, especially in a weakened minority government situation. Despite buying the Kinder Morgan pipeline, much to the chagrin of the anti-oil crowd in his party and those left of his party, the construction of said pipeline remains stagnant, thanks in large part to regulatory hurdles put in place by his government from bills C-69 and C-48.
To put it bluntly, in his quest to “balance” both the environmental and economic concerns of this country, Trudeau has put himself between a rock and a hard place.
However, there is a potential compromise that he could make that would hopefully satisfy the concerns of those in both the pro- and anti-pipeline crowds.
The Eagle Spirit Pipeline, an Indigenous backed effort to build an energy corridor consisting of two oil pipelines and two natural gas pipelines from Fort McMurray, Alberta, to Grassy Point, B.C., could be the perfect solution.
The project has the backing of 35 Indigenous communities who live along the route and are looking to share in the prosperity and employment that such a broad initiative could bring to their communities.
Calvin Helin, a member of the Lax Kw’alaams Band which is located close to where the proposed coastal access point would be and the CEO of Eagle Spirit Energy Holding, has said that while there are small pockets of resistance to the project, the vast majority of First Nations affected by the proposed route are very supportive.
However, according to Helin, much of that opposition comesv from Indigenous people who are backed by third-party groups looking to stop any resource development in Canada.
“They’re just puppets and props for American environmental groups,” he said.
Bill C-48, commonly known as the tanker ban bill, is one of the biggest challenges the project now faces. Helin is challenging the constitutionality of the bill, saying that First Nations were not adequately consulted.
“As ancestral defenders of our traditional trade routes, we will not stand by and allow the shut down of Canada’s resource industries,” Helin told the National Post in July of 2019.
Alberta Premier Jason Kenney has also indicated that his government would look to challenge the federal government on these same grounds.
Trudeau has the power to direct his natural resources minister to grant a ministerial exemption to the tanker ban in this situation. For the good of the economy, the unity of the country, and the First Nations who support the project, he would be wise to grant it.
Helin has stated in the past that if this project fails to get the green light from the federal government, they will move the access point up the coast to Alaska, where they already have a memorandum of understanding signed with a landowner who is willing to grant them access to the coast.
Even former longtime NDP Member of Parliament Nathan Cullen, usually a staunch opponent of pipelines, has shown support for the project.
“My highest order principles are First Nation rights and title because that’s law, and I respect it,” Cullen told the CBC last year.
As Trudeau decides how to formulate his cabinet and set out the priorities for his second opportunity running the federal government, he would do well to consider supporting the Eagle Spirit Pipeline.
We are a resource-based country and, whether Canadians like it or not, the demand for our oil and gas is not going away any time soon. Our oil will be coming out of the ground for years to come, and it will be either sent to the B.C. coast or the Alaskan coast.
Considering that a pipeline is the safest and most environmentally conscious way to transport oil, what good reason does the Prime Minister have for not supporting such an ideal project that will help so many?
One of the most disgraceful things about the struggles facing Canada’s energy sector is how our country is being played like a fiddle by foreign interests.
Money from foreign countries—particularly the U.S.—is pouring into Canada, and being used to generate opposition to Canadian pipelines and Canadian energy.
Some within our country have—in part because of the influence of that foreign money—been convinced that by fighting against Canadians in the energy sector, they are somehow saving the planet.
Of course, that’s not the case.
In fact, the real, practical outcome of their efforts is simply to divert money away from Canadians and send it to foreign countries instead.
For example, the move by Encana to change their name, leave Canada, and become a U.S. company will have absolutely zero impact on emissions or oil usage. All it will do is divert investment away from Canada into the United States.
So, Canada becomes poorer over time, while the US gets richer.
It’s the same for every announcement of a company leaving our country to seek better prospects in the energy industries of foreign nations: Zero impact on emissions, no benefit to the environment, and a diversion of money, jobs, and opportunity away from Canada and towards foreign countries.
Either Canadians will get rich off oil, or foreign countries will.
In fact, when I say there’s no impact on the environment, I’m actually being overly generous.
The reality is that by diverting production away from Canada—where our energy sector has some of the most stringent and closely adhered-to environment protection programs—the net impact on the environment is quite terrible because production goes to countries that don’t care about the environment the same way Canada does.
So, the sum total of the efforts of those who fight against Canada’s energy industry is to take livelihoods away from Canadians, push investment out of our country, deprive the entire nation of financial resources that go towards social programs, make the environment worse, and divide our nation, putting it at risk of breaking up.
Now, doesn’t that sound like a foreign-funded effort to weaken, impoverish, and destabilize our country?
Why should Canada put up with it?
Why should Albertans—who are being asked to keep on giving billions every year through equalization while having their energy industry stomped out by the federal government—put up with it?
How can we call ourselves a serious country when we are not only refusing to stop foreign interests from screwing us over but—through the actions of the federal Liberals and some provincial political parties—actively colluding with those interests in the weakening and destabilization of our own country.
The reality we face is that things that can’t continue don’t continue. And unless Canada quickly figures out that we must stop allowing foreign interests to turn us against our own energy sector, this country is in serious, perhaps existential trouble.
It’s Halloween in Canada, and nothing is more frightening this October than Canada’s federal debt. Canada currently holds $786 billion of federal debt, and it isn’t going anywhere unless some serious legislation is created. With Trudeau’s election promises, it looks like our debt is only going to grow in the meantime.
Due to this, The Post Millennial has compiled the spookiest debt facts, to get you in the mood for this Halloween.
We are born into debt
Every Canadian automatically owes $18,717 in federal debt as soon as they are born.
We get poorer every hour
Every hour, ordinary Canadians have to pay more and more to the federal government to bail the country out. As of writing this, Canada’s federal debt has increased by $2,260,273.93 this hour. This means our debt increases $54,246,575.34 every day.
The spooky interest
As though this wasn’t enough wasted money, Canadians have to pay an extra $26 billion on interest payments every year. This fiscal blackhole lies squarely on the taxpayer.
Our current government is bad at handling debt
The current government has no intention to fix our debt crisis. In 2016, Trudeau’s finance minister, Bill Morneau, created a plan that would increase the federal debt by $106.8 billion over the next four years. Today, we are suffering from the consequences of this.
We are getting old
Canada is ageing. A significant portion of our population is moving into retirement. With Canada’s current colossal debt, government services will increase, and our treasury may collapse. To avoid this, our politicians have to start thinking about solutions to our debt.