Trans Mountain ‘pipeline is going to get built’: Trudeau dismisses B.C.’s bitumen ban


Hoid
#2971
Quote: Originally Posted by taxslave View Post

Explain, if you can how the oil industry is getting a free ride when they pay by the barrel to pump oil through the line. Just like they do with rail.
Also explain why taxpayers should subsidize expensive EVs when a comparable gas model is less than half the price.

because the Alberta taxpayer is the one paying to build that pipeline?

Does that makes sense to you now?

Alberta is footing what looks like $5.4 billion to build the pipeline.

How about giving Tesla $5.4 billion and seeing what you get back in 2023.
 
captain morgan
No Party Affiliation
+3
#2972
Quote: Originally Posted by Twin_Moose View Post

TC Energy says it is going ahead with US$8-billion Keystone XL project


Poor hoid, this has got to be such crippling news for him/her
That said...


Quote: Originally Posted by petros View Post

Producers are not forced to sell at any price.


Bingo!


Quote: Originally Posted by Hoid View Post

How about giving Tesla $5.4 billion and seeing what you get back in 2023.


Less than 1/2?
 
spilledthebeer
#2973
Quote: Originally Posted by taxslave View Post

Explain, if you can how the oil industry is getting a free ride when they pay by the barrel to pump oil through the line. Just like they do with rail.
Also explain why taxpayers should subsidize expensive EVs when a comparable gas model is less than half the price.






Oh my! Poor hemerHOID has enough of a headache trying to comprehend the news that an oil pipeline is PROCEEDING as planned!


And now you want the POOR FOOL to explain why LIE-berals should FORCE US to buy an extremely costly machine,


with an awkward and slow refueling system and a SHAKY RANGE that diminishes RAPIDLY in a few short years?



In related news - a quick google search of PISSED OFF electric TOY car owners reveals certain issues!


Such as the real estate agent whose electric TOY battery GOT COOKED PREMATURELY because he stopped at least twice a day to



use those "fast chargers" that apparently AINT GOOD for your battery! The reality apparently is that is you want maximum battery life-



you should park your TOY at home and use a SLOW CHARGER - OVERNIGHT so as not to generate too much heat during



the recharging process! Fast chargers are convenient but NOT GOOD for long battery life!


Or we could talk about the pissed off owners of older model Teslas whose recharging software was MODIFIED by Tesla


in order to limit the chance of having a FIRE while using a FAST CHARGER! OOPSIE - some BUGS to iron out there!


And you should know by now that hemerHOID will do his usual Messed Up Turtle imitation and pull his head up his backside



until the people asking the hard questions get tired and LEAVE!
 
Twin_Moose
Conservative
+1
#2974
Quote: Originally Posted by Hoid View Post

scanned through the numbers quickly. It looks like they get 800K bbls a day into Nebraska for an $8 billion pipeline
TC Energy (of course) will put up $2.6 and Jason Kenney will cover the rest. Should be ready for 2023ish.
The oil industry once again gets the free ride - because there's profiteering afoot and when they sell all that oil for $100 a bbl the economy makes sense.
But for gosh sakes don't let a government offer any $5,000 EV subsidies

They are investing $1.1 Billion and guaranteeing $4.2 Billion, the Billion will be in shares and the $4.2 will only happen if TC defaults, so your numbers really don't work in your hype.
 
spilledthebeer
+2
#2975
Quote: Originally Posted by Hoid View Post

because the Alberta taxpayer is the one paying to build that pipeline?

Does that makes sense to you now?

Alberta is footing what looks like $5.4 billion to build the pipeline.

How about giving Tesla $5.4 billion and seeing what you get back in 2023.








STANDARD hemerHOID LIE! Kenney is giving $1.1 billion -meaning a SMALL FRACTION of the total
 
Twin_Moose
Conservative
+3
#2976
They have to do something to keep that anti- Canadian oil money streaming in

Group of First Nations want to launch fight of Trans Mountain pipeline approval

Pretty much the same argument has there been enough sufficient consultation? I can't see this going anywhere besides trying to keep them relevant in the news
 
spilledthebeer
+1
#2977
Quote: Originally Posted by Twin_Moose View Post

They have to do something to keep that anti- Canadian oil money streaming in

Group of First Nations want to launch fight of Trans Mountain pipeline approval

Pretty much the same argument has there been enough sufficient consultation? I can't see this going anywhere besides trying to keep them relevant in the news




True dat! Those rabid environmentalists really believe they can win something useful with Our idiot Boy



and his loser LIE-berals! Too bad LIE-berals have only that DYING minority govt to work with!


But aint it a HUGE RELIEF that Our idiot Boy DID NOT get away with his Power Grab - meaning the idiot did not get to shut down



and PARALYZE our parliament until December 2021!


Can you imagine the MESS HE COULD MAKE if he was free to act with no oversight for nearly TWO YEARS?
 
captain morgan
No Party Affiliation
+3
#2978
Quote: Originally Posted by Twin_Moose View Post

They have to do something to keep that anti- Canadian oil money streaming in

Group of First Nations want to launch fight of Trans Mountain pipeline approval

Pretty much the same argument has there been enough sufficient consultation? I can't see this going anywhere besides trying to keep them relevant in the news


The SCOC has already shut that door
 
spilledthebeer
+2
#2979
Quote: Originally Posted by captain morgan View Post

The SCOC has already shut that door




As you say - radicals are just trying to keep the cause alive!


And they are being aided by BIASED LIE-beral loving Cdn news media!
 
Twin_Moose
Conservative
+2
#2980
Quote: Originally Posted by captain morgan View Post

The SCOC has already shut that door

I agree that's why I said I can't see it going anywhere but keep them relevant in the news, and keep that anti-Canadian oil checks rolling in.

Now that they can qualify for Tator tots Corona aid, keeping the paid protestors employed is of the utmost importance.
 
captain morgan
No Party Affiliation
+3
#2981
They are little more than the last gasp of this ridiculous movement, kinda like Greta
 
spilledthebeer
#2982
Quote: Originally Posted by captain morgan View Post

They are little more than the last gasp of this ridiculous movement, kinda like Greta






Oh dear me! I greatly fear you are mistaken Cap! Once things return to normal - all old problems and issues



WILL BECOME NEW AGAIN! We have not heard the last of Grumpy Greta!


And there WILL BE MAJOR BATTLES over the Cdn oil patch - since Ottawa will need every penny of oil revenue it can get


to pay off those MASSIVE DEBTS! LIE-berals are already scheming and scamming to try to remake the world in their



GROSSLY BIASED IMAGE!


Here is an article that makes a mockery of the LIE-beral carbon tax SCAM and reveals that LIE-berals have failed to persuade us their scam tax is anything other than a GROSS Gravy Grab! With some comments of my own in brackets):

COVID-19 restrictions cut downtown Toronto pollution levels by almost half, researchers find

By Lisa Xing, CBC News

Published April 9, 2020

Researchers at the University of Toronto have discovered a substantial reduction in pollution levels in the downtown core since the province announced measures to curb the the spread of COVID-19, including shuttering schools and non-essential businesses.

(Isnt that wonderful that our air can be so easily cleaned - just by destroying our economy! This is of course the DIRTY SECRET that LIE-berals refuse to discuss - that our economy RUNS ON oil and killing off the Cdn oil patch as LIE-berals have long desired - will also kill our economy!)

(In related news - wind and solar power ARE NOT the answer as they are too erratic and unreliable! Both Germany and Spain got heavily into that mouldy green energy and Germany is now building natural gas fuelled generators and canning many of their UNRELIABLE wind generators! Here in Ontari-owe we MUST have a fully manned and fully powered up natural gas generator to back up EACH of our wind farms - so the RELIABLE gas generators can take over from erratic wind and solar power at a moments notice! It would be cheaper and more environmentally sound just to use the already fired up gas generators!)

(As for Spain - their environmentalists touted the value of “green jobs” and economists learned the HARD WAY that for each green job created - 2.5 old style jobs were KILLED OFF! Getting deeply involved in green power is a successful plan for CREATING MORE POVERTY in our economy!)

(Even worse - the carbon tax gravy grabbed by Cdn LIE-berals will be used to subsidize the already CARBON RICH lifestyles of our civil service union HOGS! Meaning the lives of ordinary people will BE DEVASTATED so that HOGS can continue on their filthy gas guzzling ways!)

(Poor people DO NOT own second homes, do not own 300 horsepower supercharged SeaDoos, do not own ATV`s, do not own 150 horse power bass boats, do not own riding lawn mowers that spew more pollution in 5 minutes than a modern car running on the highway for 30 minutes and most important of all - over one third of Cdns feel they CANNOT afford a holiday at all - thus poor people DO NOT join our HOGS on their lemming-like trips on gas guzzling jets flying to sunny beaches in January and poor people do not send their spoiled teens South during March Break!)

(As has been proven in the past - airplanes are the SINGLE BIGGEST producer of air pollution and the majority of passengers on those mechanized disease spreading sewers ARE HOGS - and LIE-beral govt has been BORROWING MONEY for decades to BUY HOG votes and to subsidize the carbon rich HOG lifestyle - borrowed cash enables PIGS TO FLY!)

(To save the remains of our economy and environment - we have only to CUT BACK on gravy for HOGS! There is NO REASON for the clerk marking your $150 dollar water bill as being paid to be earning one third MORE than the clerk toting up your $150 grocery bill!)

"A pandemic is not a good thing," said Greg Evans, director of the Southern Ontario Centre for Atmospheric Aerosol Research (SOCAAR).

"But seeing the change ... gives us a better understanding of the many factors that contribute to poor air quality."

The SOCAAR team analyzed the concentration of dozens of pollutants from air pulled directly from a duct off College Street in downtown Toronto for 24 days before March 13 and 24 days after.

(Uh huh - HOGS persist in their War on Cars! Why don’t they head out to Pearson Airport and check the air quality there - now there are so few flights? Oh - right - HOGS are convinced poor people can DO WITHOUT cars - but airplanes ARE ESSENTIAL for a “properly entitled HOG lifestyle”! And of course CARS ARE NEEDED by HOGS to travel to their country estates for rest and relaxation!)

The preliminary results provided to CBC News showed levels of nitrogen oxides and ultrafine particles, both indicative of vehicle pollution, have sharply decreased, a finding consistent with the reduction in traffic in the area.

"Both of them have dropped by about half," said Evans.

At this point, Evans says he isn't able to attach an exact percentage to the decrease because several factors affect the accuracy of that number, including the level of travel over March break and the onset of spring.

(Yes - the LIE-beral FIX is in - nobody wants to discuss HOW MUCH Toronto air pollution rates WOULD BOUNCE BACK - if the GTA airports all bounced back to full operation!)

Evans says the data his team compiled is more specific and detailed than pollution data from satellite imagery, which gives a big-picture view.

"We can get a picture of what's going on right now at a given location."

(Sure - and we ALREADY have details of how much air pollution levels dropped in the year after the 9/11 terror attack - during which time 25 percent of the worlds airline fleet WAS GROUNDED - with the result there was a MEASURABLE IMPROVEMENT IN AIR QUALITY! We CAN save our environment by the simple expedient of HALTING LIE-beral deficit financing since all that borrowed gravy ends up only in pockets of HOGS with that carbon rich lifestyle!)

It's too early to draw conclusions about the impact on carbon dioxide levels, according to Evans, because it's been in the air for so long — one molecule of carbon dioxide stays in the atmosphere for about 40 years, so a drop over just a few weeks "really doesn't make that much of a difference to overall levels."

As he collects more data, though, Evans said he may be able to draw more conclusions.

The findings don't come as a surprise to Evans, nor to Heather Marshall, campaigns director at the Toronto Environmental Alliance.

But Marshall says it's not necessarily good news to her.

"There's really no silver lining. We're facing a pandemic."

However, Marshall is hoping these figures will help inform government decisions and spending after the pandemic is over.

"We have to think about whether it's a bailout for the oil and gas sector, or an investment in other kinds of transportation that are zero emission or low emission."

(LIE-berals are being CAUGHT OUT HERE! They KNOW that more public transit will lure people out of their cars - but LIE-berals REFUSE to pay the price for that new transit! Buying more public transit would force LIE-berals to spend gravy on that transit and direct grsvy AWAY from LIE-beral vote buying schemes and thus reduce the ability of LIE-berals to cling to power AT ANY PRICE!)

(LIE-berals ARE RIGHT in one thing though - when they claim conservation of energy is a GOOD IDEA! SO WHERE are the LIE-beral INCENTIVES encouraging building contractors to significantly IMPROVE INSULATION LEVELS in the buildings they construct? More SPECIFICALLY - why do LIE-berals NOT offer home renovators incentive to substantially UPGRADE insulation levels in older homes?)

(LIE-berals of course DESPISE home renovators for their habit of driving up house prices with the added bonus that a lot of home renovators either operate partly or fully under the table thus depriving LIE-berals of sales and income tax gravy! And LIE-berals are angry with some home renovators for aiding organized crime to LAUNDER cash with real estate financial games!)

(LIE-berals CHOOSE NOT to waste their gravy on police enforcement of money laundering in our real estate markets as they cannot win votes from such costly legal enforcement! LIE-berals are SO DESPERATE for gravy that they will take whatever sales tax the criminal book keepers care to offer up and LIE-berals will FORGET the rest!)
 
Twin_Moose
Conservative
+3
#2983
Construction of expanded Trans Mountain pipeline to begin soon in B.C.

Quote:

Construction will soon ramp up on the expansion of the Trans Mountain oil export pipeline, including the installation of pipe in British Columbia where opposition to the project has been loudest.
The multi-billion dollar project is owned by the federal government and will transport oil from Edmonton to the Vancouver area. A lack of new export pipelines has been a problem for the oilpatch for several years and is a reason for limits on Alberta's oil output.
For a sector in the midst of historically low oil prices and layoffs, progress on pipeline projects like Trans Mountain provides some much needed optimism.
Contractors began installing pipe in Alberta late last year and the first section of the pipeline, near Edmonton, is 60 per cent complete, according to the company.

Crews are taking a brief hiatus for a period dubbed "spring breakup," when the ground is too muddy and soft to move heavy equipment. So far, about 42 kilometres of pipe is in the ground, all of which is in Alberta.
Next month, the company expects to break ground along the 1,147-kilometre route and begin pipeline construction near Kamloops, B.C.
The exact path through the Lower Mainland area around Vancouver may still change as detailed route hearings are underway by the Canada Energy Regulator. Such hearings typically deal with specific routing issues, like area-specific tree removal or road crossings.
'We are on track'
Trans Mountain officials expect construction to be underway along every section of the pipeline route by the end of the year.
"We are pleased where we are at," said spokesperson Ali Hounsell. "We are on track and it is a challenging time for everyone but we've managed to, together with our contractors, be able to ensure we are meeting all the health and safety requirements."

The portion of the pipeline route west of Edmonton is relatively straightforward on flat prairie land. As contractors begin work on the other side of the provincial border, they will face a variety of different challenges such as navigating the Rocky Mountains, crossing the Fraser River, and working in populated areas of the Lower Mainland.
With so many delays to the start of construction, there has been ample time for crews to prepare.
"Now we are in the execution phase and this is where we put all those plans and expertise into practice," said Hounsell.
More than 2,900 people have been hired for the project.
WATCH | Ali Hounsell on the tricky terrain ahead for TMX:
Severe downturn
Export pipeline space was at a premium in recent years and tight shipping capacity has been blamed for prices in Alberta being heavily discounted compared to the rest of North America. That's why the country set a record high in February for the amount of oil exported by rail.
The Altex Energy heavy oil loading terminal near Lloydminster, Sask., was operating at its highest level in January and February. However, since the pandemic began, the terminal is moving half as much oil.
"The tone in the industry changed dramatically over the course of a few days," said John Zahary, chief executive of Altex Energy, pointing to the decision by Russia and Saudi Arabia to flood the global market with oil and the plunge in demand for fuels as governments began COVID-19 lockdown measures.
"From the perspective of somebody who has now been in the industry for about four decades, this is as bad as it has ever been," said Zahary. "The drop in price and the swiftness of the drop in price has made it extremely tough to be an oil and gas producer in Western Canada."
Future of the oilpatch
Industry leaders expect the situation to improve as demand increases slowly as lockdown measures are eased and the oil market balances from so many companies and countries cutting back on production.
"The industry will look a lot different when that happens than it did before this started," said Zahary, as he expects more companies in Western Canada to fail, "but certainly we need oil to drive our lifestyles."
In recent weeks, energy companies have been reporting their financial results for the first three months of the year and the numbers have been grim, with losses in the billions of dollars. Many companies are already warning investors that second-quarter results will be even worse.
But, an increase in demand for fuel is already being noticed, according to Suncor, which owns several oilsands facilities in Northern Alberta, in addition to refineries and the Petro-Canada gas station chain.
Demand for gasoline dropped by half at some points during the pandemic, according to the company, while jet fuel demand tumbled by 70 per cent.

'Innovation and drive'
The sector's recovery will take time, but the industry has a bright future, especially the oilsands, according to Suncor chief executive Mark Little.
"I think with the innovation and drive, the focus on lifting Indigenous people up as we go on our journey, dealing with environmental (issues) and our focus on reducing carbon, I see Canada playing a significant role going forward," he said during an interview with CBC News.
Some oilpatch leaders have pointed to one possible bright spot of the pandemic: more Canadians will appreciate the oilpatch for what it provides, such as plastics used in personal protective equipment and medical supplies as well as the fuel to keep trucks, trains and supply chains moving.
Little agrees with that sentiment and how the country came together to battle the pandemic.
"When the chips were down, and we're facing a huge challenge, a global challenge that we need to get through as a country, we came together," said Little. "I see that as a great opportunity as we think about the energy transition and also how are we going to deal with greenhouse gas emissions in the country."
The federal government has provided the oilpatch with $2.5 billion in aid aimed at reducing methane emissions and cleaning up old oil and gas wells. Ottawa also announced a plan to expand the Business Credit Accountability Program credit support to medium-sized businesses with larger financing needs.
Suncor does not need any help, said Little, but he does want Ottawa to help smaller producers who are in dire straits.
"We're advocating that not only liquidity be provided to the small and medium-sized companies, but that it happens quickly because this is a very important sector in our country," he said.

Trans Mountain is not the only major export project proceeding right now in Canada. Enbridge's Line 3 replacement project could be finished by the end of the year, while TC Energy's Keystone XL could break ground in the U.S. this summer.
All three projects still face specific regulatory and legal challenges.

Chop, chop China is getting impatient to get their Oil
 
Hoid
#2984
Supreme Court rejects First Nations appeal of Trudeau cabinet decision to build the trans mountain.

Every peaceful means seems to have been exhausted.
 
gerryh
+2
#2985
Quote: Originally Posted by Hoid View Post

Supreme Court rejects First Nations appeal of Trudeau cabinet decision to build the trans mountain.
Every peaceful means seems to have been exhausted.


So, are you suggesting using violent means now?
 
pgs
Free Thinker
+3
#2986
Quote: Originally Posted by gerryh View Post

So, are you suggesting using violent means now?

Yes he will be leading from the computer in his mother’s basement .
 
Ocean Breeze
Free Thinker
+2
#2987
Quote: Originally Posted by Hoid View Post

Supreme Court rejects First Nations appeal of Trudeau cabinet decision to build the trans mountain.

Every peaceful means seems to have been exhausted.

More on same:

Supreme Court rejects Indigenous challenge to Trans Mountain pipeline approval

https://globalnews.ca/news/7131113/s..._campaign=2020

This has been dragging out long enough.
 
Twin_Moose
Conservative
+2
#2988
Yep taxpayers have been paying way too much on both sides of the issue
 
Walter
#2989
Is it built yet?
 
JLM
No Party Affiliation
#2990
Quote: Originally Posted by Walter View Post

Is it built yet?


I think it's in the process when the meat heads aren't deterring it!
 
Hoid
#2991
Quote: Originally Posted by gerryh View Post

So, are you suggesting using violent means now?

I have said all along that blood will be spilled if that construction happens.

It won't be a surprise.
 
Hoid
#2992
Well here's an interesting angle:

Who’s Insuring the Trans Mountain Pipeline?
A new campaign is demanding these companies respect Indigenous rights and drop their coverage

https://www.commondreams.org/views/2...ntain-pipeline

Rainforest Action Network recently uncovered a document that lists the 11 companies that are currently insuring the controversial Trans Mountain tar sands pipeline in Canada. These global insurance giants are providing more than USD$500 million in coverage for the massive risks of the existing Trans Mountain pipeline, and they’re also lined up to cover the expansion project.

The existing Trans Mountain pipeline is a major environmental and public health hazard with a long history of disastrous spills. Earlier this month, 50,000 gallons of crude oil spilled from a pump station located above an aquifer that supplies the Sumas First Nation with drinking water.

The Trans Mountain Expansion Project would multiply these risks tremendously. Though it is officially called an “expansion,” this is no minor renovation. The Canadian government, which owns Trans Mountain, is attempting to build a parallel pipeline that would ship more than 890,000 barrels per year of highly-polluting tar sands crude oil to the coast of British Columbia.

For more than a decade, the expansion of Trans Mountain has been delayed in the face of powerful, Indigenous-led resistance on the ground and in the courts. It has not secured the Free, Prior, and Informed Consent of Indigenous communities that are directly in the pipeline’s route. Right now, the Tsleil-Waututh Nation, Squamish Nation, and Coldwater Indian Band are actively engaged in legal challenges on the project, and land defenders are asserting their rights and title along the route.

Furthermore, pushing forward this project flies in the face of Canada’s commitment to cut emissions in line with the Paris Agreement. To keep global warming under 1.5şC, we must stop expanding tar sands – and all fossil fuels – and instead invest in a just transition to phase out existing operations.

In the midst of the COVID-19 crisis, the government and corporations are doubling down on their destructive plans to build new fossil fuel projects. Bulldozers that are laying the initial pipe on Trans Mountain have not quieted, even though this construction poses major risks to Indigenous and rural communities in its path, as well as workers that are housed together in close quarters. In Alberta, viral outbreaks have been linked to man camps at tar sands extraction sites, and yet the province’s energy minister proclaimed that now is a great time to construct a pipeline, due to social distancing protocols that limit public protest.

The risks of these pipelines are so great that under federal law, the current pipeline and its expansion are not able to transport any oil without insurance. So if we can stop the flow of insurance money, we can stop the flow of oil.

We’re ramping up the pressure on the insurance companies that are providing critical financial support.

Who’s insuring the pipeline? (2019-2020)
Here’s the list of insurance companies that are providing coverage from August 2019 through August 2020:

Zurich (Switzerland)

Lloyd's (UK)

Liberty Mutual (US)

Chubb (US)

AIG (US)

WR Berkley (US)

Starr (US)

Stewart Specialty Risk Underwriting (Canada)

Energy Insurance Mutual (US)

Temple Insurance (Germany), a Canadian member of the Munich Re group

HDI (Germany), which is owned by Talanx / Hannover Re

These insurance policies are being arranged by the biggest insurance broker in the world: Marsh. Fun fact: Marsh is also currently under fire for facilitating insurance for the Adani Carmicheal coal mine in Australia.

Trans Mountain’s insurance policy is up at the end of August, so we are urgently calling on these companies to:

Publicly commit to not renew their insurance policy for Trans Mountain for 2020-21;

Moving forward, rule out insurance for all tar sands extraction and transport projects and companies;

Adopt a policy to ensure that projects and companies they insure have obtained the Free, Prior, and Informed Consent of impacted communities.
We’ve made some progress. In late June, Talanx indicated that it already dropped the pipeline, and Munich Re signaled that it will not renew its policy. These two German insurers recently adopted policies restricting tar sands business.

A global coalition of environmental NGOs, First Nations, and insurance campaigners is demanding that the rest of Trans Mountain’s insurers follow suit and stop being complicit in the violation of Indigenous rights, spread of COVID-19, and the desecration of sacred waterways and the global climate.
 
Hoid
#2993
Talanx Group dropping support for Trans Mountain pipeline

https://www.insurancebusinessmag.com...ne-226532.aspx

Talanx Group, the name behind both Hannover Re and HDI, has dropped its support for Canada’s Trans Mountain pipeline, according to emails to Canadian NGO Stand.earth, revealed by campaign group Insure Our Future (formerly Unfriend Coal).

Now, the campaign group has suggested that Munich Re could follow.

Subsidiaries of both Talanx and Munich Re were named on Trans Mountain’s certificate of insurance – they are among 11 companies offering $508 million of liability insurance for the 12-month period up to August 31, 2020. However, the emails suggest that Talanx actually pulled out of the project in 2019 – and HDI Global SE, which was listed as providing $85 million in cover jointly with other insurers, was wrongly listed. The group has been limiting its tar sands underwriting since this year.

Meanwhile, Munich Re is said to be reviewing its support after adopting a new policy on tar sands this year – it rules out insuring tar sands extraction projects and dedicated tar sands infrastructure, including pipelines.

“Talanx and Munich Re are joining some of the world’s largest financial institutions in steering clear of the oil sands sector. Trans Mountain is one of most controversial energy projects in Canada’s history, which is why a mounting list of insurers refuse to back the project,” said Sven Biggs, Canadian oil and gas programs director at Stand.earth.

Now calls are being made by the campaign group for other insurers to follow suit.

“Trans Mountain put in the existing line without the consent of impacted First Nations and we have said ‘no’ countless times to the proposed expansion. As Indigenous peoples we are stewards of our lands and waters. We have jurisdiction over activities that happen in our territories, and we don’t want them ruined by oil spills,” said Kukpi7 Judy Wilson, Secretary-Treasurer of the Union of British Columbia Indian Chiefs and Chief of the Neskonlith Indian Band. “We will continue to advocate against the insurers that continue to back the Trans Mountain pipeline and its expansion and call on all insurance companies to adopt policies stopping fossil fuel expansion.”

Currently, eight global insurers have implemented policies to limit or end insurance coverage for tar sands, including: AXA, AXIS Capital,
Generali, The Hartford, Munich Re, Swiss Re, Talanx, and Zurich.
 
Hoid
#2994
Insurance company drops Trans Mountain policy, citing climate change

https://www.burnabynow.com/news/insu...nge-1.24164551

One insurance company has dropped its coverage of the Trans Mountain pipeline, while another is expected to drop its coverage of the project in the near future, according to Stand.earth.

The news comes nearly a year after a petition calling on the pipeline’s largest insurer, Zurich Insurance Group, along with 26 other insurers for the project, to drop Trans Mountain.

That petition was organized by a coalition of 32 groups, including Stand.earth, but Zurich had declined at the time to drop its policy with the pipeline.

Now, as the project gains steam with the courts effectively settled on the approval of the project, Talanx is dropping its insurance policy with the Trans Mountain pipeline, according to Stand.earth.

The Vancouver-based NGO said in a news release it received confirmation from Talanx by email.

“As a matter of principle, Talanx no longer invests in companies that derive more than 25% of their revenue or generate more than 25% of their power from coal. In addition, oil sands have been added to the list of exclusion criteria for both investments and underwriting,” reads the insurer’s email to Stand.earth, quoted in a news release.

Munich Re is also expected to drop its coverage of Trans Mountain, according to Stand.earth, which also received Munich Re’s decision by email:

“Munich Re has a policy on oils sands in place, covering both investments and insurance. We no longer insure the extraction of oil sands or related dedicated infrastructure on a single risk basis. And we do not invest in companies that generate >10% of their revenue from oil sands extraction.”

Stand.earth called the pipeline a “litmus test” for insurance providers’ commitment to the Paris Agreement targets to hold global warming to 1.5 C over pre-industrial levels.

“Talanx and Munich Re are joining some of the world’s largest financial institutions in steering clear of the oil sands sector,” said Sven Biggs, Canadian oil and gas programs director at Stand.earth. “This is not the time to be insuring, or even trying to build, a pipeline like this that threatens our climate, the health and wellbeing of communities from Edmonton to Vancouver, and with each passing day makes less and less economic sense.”

Stand.earth said the move by Talanx and Munich Re could set a precedent for other insurance companies to follow.

The news comes the same week as the Supreme Court of Canada decided not to hear an appeal from a group of B.C. First Nations – the Tsleil-Waututh Nation, Squamish Nation and Coldwater Indian Band.

The trio had succeeded in 2018 in its case in the Federal Court of Appeal, which found the federal government had not adequately consulted the Indigenous communities.

However, earlier this year the same court rejected a similar challenge by the group, determining the federal government had adequately consulted the communities in its second attempt.

The three communities appealed the decision to the highest court in the country, which decided this week not to hear the case, effectively quashing the nations’ legal cases against the pipeline.
 
gerryh
+1
#2995
Ho hum
 
JLM
No Party Affiliation
#2996
Quote: Originally Posted by gerryh View Post

Ho hum


That post says more than the previous four!
 
Ocean Breeze
Free Thinker
#2997
Quote: Originally Posted by JLM View Post

That post says more than the previous four!

LOL....she is good, isn't she??
 
captain morgan
No Party Affiliation
+3
#2998
Quote: Originally Posted by Hoid View Post

I have said all along that blood will be spilled if that construction happens.

It won't be a surprise.


 
gerryh
+2
#2999
Quote: Originally Posted by Hoid View Post

I have said all along that blood will be spilled if that construction happens.
It won't be a surprise.

You do realize that construction started quite some time ago.
 
Hoid
#3000
Quote: Originally Posted by Cliffy View Post

That is declaration of war against the people of BC, especially our native people. This is going to cause blood shed. Fukk tar sands. Pump it east if you must. We don't want that shit fowling up our water, soil and air.

third post of the thread