Kinder Morgan is providing potential investors with shoddy information, according to a complaint filed with the Alberta Securities Commission by Greenpeace Canada last week.
The formal complaint contends the company’s draft prospectus — a legal document prepared for investors ahead of its massive $1.75 initial public offering (IPO) — failed to properly disclose future Asian oil demand and the financial impacts of climate policy.
It turns out that Kinder Morgan used demand forecasts that assume “business as usual” for oil consumption, which effectively means no serious attempt to keep global warming below two degree celsius.
A bill to restrict the movement of oil off the north coast of British Columbia has been formally tabled by the federal government in the House of Commons, according to a statement released by Transport Canada Friday.
The proposed legislation, which would restrict tankers carrying more than 12,500 metric tons of crude oil from entering or exiting north coast ports, must now make its way through Parliament.
“Today is a positive day for us,” Gavin Smith, staff counsel at West Coast Environmental Law, told DeSmog Canada.
“We’re very happy to see the federal government follow through on its promise to introduce a tanker ban.”
Smith said the legislation will prevent megaprojects like the Northern Gateway pipeline from being built in northern B.C. but added he has yet to review the text of the bill in detail.
Forestry has been a passion and a career for Martin Watts for 25 years, but, since attempting to point out problems with B.C.’s process for setting logging rates, his forestry consulting business has nosedived and Watts is claiming in a civil suit that he was blacklisted by the provincial government.
“My business doesn’t really exist any more except on paper. It has caused a lot of hardship. I am funding this case through my retirement savings,” Watts said in an interview with DeSmog Canada.
However, the battle is worthwhile because it is vital that the public be made aware of inaccuracies in the Timber Supply Review Process, which is used by the Chief Forester to determine the Annual Allowable Cut — a calculation of how much of the forest can be cut each year, said Watts.
Corrupted data and unvalidated computer models are being used to estimate how much timber is in B.C.’s forests and, since budget and staff cuts started in 2002, many of the inventories are 20 years old, according to critics.
The next leader of the Conservative Party will be chosen on May 27.
While only Conservative Party members are eligible to vote in the ranked ballot election, the outcome will determine who will likely run against Prime Minister Justin Trudeau in the next election, so it’s worth paying attention.
Where do the 13 leadership hopefuls stand on energy and environment issues? Well, they’re a bit all over the map. Fear not, we’ve distilled the platforms down into this quick cheat sheet to help you get up to speed on what Canada could be in store for come May 27.
After many months of delay and an attempt to charge almost $1,000 to release an updated budget and timeline for the Site C dam, the B.C. government has finally agreed to provide new information about the most expensive publicly funded project in B.C.’s history.
But the public will not be privy to the information until May 30, three weeks after the provincial election, B.C. Energy Minister Bill Bennett’s office has informed DeSmog Canada following a Freedom of Information request.
Sean Holman, a journalism professor and freedom of information advocate, said withholding such important knowledge on the eve of an election is an unfortunate example of continued efforts by provincial governments across the country to “fortify secrecy rather than to facilitate openness.”
By Maximilian Kniewasser, Pembina Institute.
Four years ago, the government of British Columbia bet big on the prospect of liquefied natural gas (LNG) exports creating overseas markets for the province’s shale and tight gas resources.
LNG development would deliver 100,000 jobs, a $100-billion Prosperity Fund, and over $1 trillion in economic activity, British Columbians were told. Since then, however, the economics of LNG have shifted, and the predicted LNG boom has yet to materialize.
In order to attract LNG investment, the provincial government has provided myriad incentives, exemptions, and direct transfers to the natural gas industry. Financial incentives that shield the emissions-intensive industry from current and potential future increases in carbon costs are of particular concern to the Pembina Institute.
For one thing, these measures lessen the incentive to reduce carbon pollution — as the world increasingly demands that polluters pay for their emissions. Furthermore, such incentives use scarce public dollars to support the fossil fuel sector at a time when government should be removing barriers to clean innovation and investing in green jobs.
Here is an overview of six carbon-related incentives that benefit LNG projects and the natural gas industry in B.C.
Provincial politics. There, I said them — two of the most boring words in the English language.
There’s no denying it. Provincial elections fail to capture the imaginations of citizens the way national or even international elections do.
Case in point: in the last B.C. provincial election, just 55 per cent of eligible voters cast a ballot — 13 per cent fewer than voted in the last federal election.
For years, the B.C. government has touted the benefits of developing a liquefied natural gas (LNG) export industry — and while some of those benefits may be legit, one of them almost certainly isn’t.
That’s the claim that exporting natural gas from B.C. will somehow result in emissions reductions in China.
Let’s back up for a second.
Exporting LNG involves first fracking for gas in B.C.’s northeast, a process which causes earthquakes, uses epic amounts of fresh water and leaks the potent greenhouse gas methane into the atmosphere at a rate 2.5 times higher than what the B.C. government has been admitting.