LAXER: Billion-dollar Buyout

LAXER: Billion-dollar Buyout

Postby Oscar » Mon Jun 03, 2019 8:07 am

Billion-dollar Buyout

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June 3, 2019 Media Release

New report reveals how Canadian taxpayers bought an environmentally harmful pipeline and reworded the CUSMA to support it

Ottawa-- On the eve of Canada tabling legislation to potentially ratify the Canada-United States-Mexico Agreement (CUSMA) and the Liberal cabinet deciding the fate of the Trans Mountain pipeline, a new report reveals that not only is this pipeline a dubious economic investment with disastrous environmental consequences, but it will be specially protected by the new NAFTA.

The new report, Billion Dollar Bailout, is published by the Council of Canadians. Written by Gordon Laxer, political economist, prolific author and professor emeritus at the University of Alberta, the report shows how the new NAFTA will allow the government to subsidize the pipeline further.

“In the midst of a climate emergency, many of us are scratching our heads as to why the government would buy such a white elephant where the math doesn’t add up and the environmental consequences are devastating. It could add 13 to 15 megatonnes of carbon emissions, which is like adding almost 3.8 million cars on the road,” says Gordon Laxer, author of the report. “The fact that Ottawa protected the Trans Mountain pipeline in Trump’s NAFTA, allowing subsidies to the pipeline shows that it is business as usual for the government. Its actions are inconsistent with its rhetoric of being a climate leader.”

The report:

· Shows how the government overpaid for the pipeline by $1 billion and could be on the hook for $10 billion more for its expansion.

· Debunks the myth that the pipeline could serve Asian markets and shows how the pipeline is a questionable investment.

· Discusses the climate and sovereignty impacts of the CUSMA’s energy goal of integrating Canadian oil and natural gas into the U.S. market.

On June 18, the Liberal government is slated to decide whether it approves the pipeline expansion in the midst of a full-throttle attack by Alberta Premier Jason Kenney who supports the project.

“While Jason Kenney goes to war on behalf of the project, we need to remind the federal government that there is nothing to be gained by giving into him. The deal to support a carbon tax and a cap on oil sands emissions in exchange for the pipeline’s approval brokered by the previous Notley government is dead. The federal government has an obligation to meet its environmental commitments, not Jason Kenney’s threats.”

The report and a handimation video [ ... ] on it can be found at:
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Gordon Laxer PhD is the founding Director of the Parkland Institute. Political Economist and Professor Emeritus at the University of Alberta, Dr. Laxer is the author or editor of six books including: After the Sands. Energy and Ecological Security for Canadians, and Open for Business: The Roots of Foreign Ownership in Canada.

He will speak about this report in Ottawa on June 4 and in Montreal on June 5.

Event details

When: June 4 at 7:00 p.m
Where: 25oneCommunity, 251 Bank St. 2nd floor

When: June 5 at 7:00 p.m.
Where: Concordia University, JMSB, 1450 Guy, facing Metro Guy-Concordia, corner de Maisonneuve W. Room MB-04.206 on the 4th floor

All events are wheelchair accessible.
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