Canada’s oil and gas sector is on track to have the biggest two-year decline in capital spending in its history.
The industry’s main association says spending on major projects is forecast to drop to $31 billion in 2016.
The Canadian Association of Petroleum Producers says that’s the biggest drop in records going back to 1947.
“Times are tough today in Canada’s oil and natural gas sector, but the world will require responsibly produced energy for a long time to come,” said Tim McMillan, CAPP president and chief executive officer. Read more: Calgary Herald by CP.
U.S. & Canadian Environmental Regulations Have Moved Beyond “Reasonable” To Becoming Weapons Against Capitalism
If we lose free market fossil energy to the religions of socialism (i.e. climate change omniscience and regulatory omnipotence), we lose freedom
The trend in anti-fossil fuel federal and local governments in Canada and the U.S. is similar. Don’t just rely on laws and existing regulations. Go all out to increase tax and/or regulatory burdens so that increased risk/cost prohibits successful business operations. And…do so when oil & gas prices are low. Do it when government has restricted the building of pipelines to markets. And, do it when companies are already firing free enterprise employees, selling valuable assets, and, falling into bankruptcy. In short, don’t let the low price oil crisis go to waste!
And use the same technique on Mining and other natural resource industries.
In this way, the United Nations climate change/global warming objective will be secured. And what is that objective? As we reported last year, “Christiana Figueres, executive secretary of U.N.’s Framework Convention on Climate Change, admitted that the goal of environmental activists is not to save the world from ecological calamity but to destroy capitalism.” Critical thinkers, upon reflection, are likely to agree that the liberal/socialist government in Canada (i.e. which easily accepts the US denial of Keystone XL, etc. and supports Paris climate change strategies) and the democrat/socialist leadership in the U.S. (i.e. which has denied Keystone XL permits (video), etc. and supports Paris climate change strategies) have the same allies: 1) International NGO enviro-activists and 2) crony capitalists bleeding taxpayers and ratepayers of subsidies to keep uneconomic alternative energy industry voters employed while demonizing fossil fuel wealth producers. This is why we developed the category, “Enviro-Industrial-Governmental Cabal“.
Please note that we at NGP are not “Name Callers”; we are describing an actual, international movement which we have documented herein with the facts.
Philosopher George Santayana cautioned us that, “Those who cannot remember the past are condemned to repeat it.” While we are wise to let the experience of others enable us to avoid repeating mistakes of history, we are also reminded of another historical lesson. The handwriting on the wall, foresaw the demise of King Belshazzar’s kingdom. Today’s handwriting on the wall CLEARLY teaches us that powerful, organized forces have formed to destroy free enterprise and freedom itself. The technique it uses is the accumulation of power. Power is accumulated as capitalism is killed by the “death of a thousand cuts” while, conversely, those destroying it grow in subsidized prosperity, population, voting strength, government wealth, control and dictatorial power.
This process of political evolution is now transforming two of the greatest democracies of the world — Canada and the United States — into mere shadows of their former, free selves, new monuments to the historically disproven religions of socialism and communism.
Once the new socialist forces are in charge, government ownership (i.e. or, bureaucratic control) of fossil fuel and other free market companies will be complete. These and other world governments will aggressively exploit energy’s wealth potential in order to finally secure and protect their new power base. Ironically, environmental protection — and idealists who have advocated it — will be very low on the list of dictatorial priorities.
The Calgary Herald piece below describes another ‘cut’ that will contribute to the bleeding of a formerly healthy, free enterprise industry.
Liberal activists are not satisfied with increasing monitoring, enforcement and control over the private sector. They are only satisfied when the business contributors and voters of those private industries are either pushed into bankruptcy, expropriated by government or controlled by loyal, socialist bureaucracies.
If government bureaucrats were content to wisely manage the affairs of government on behalf of a free people, they would set reasonable laws and regulations to implement them. Then they would enforce them. They would NOT seek new statutory or regulatory burdens every single time a pipeline, airline, train, water main or electric transmission line failed. In those cases, existing laws (i.e. perhaps with only minor modification) would suffice to 1) correct oversights, 2) punish the guilty — if any, and 3) safeguard the public interest.
Chris Varcoe, Calgary Herald. The National Energy Board announced Tuesday that pipeline companies will be required to make their emergency response plans public. On the same day, the province moved to bring the arm’s-length environmental monitoring of the oilsands back inside the Alberta government.
At the Calgary-based NEB, the agency ordered all federally regulated pipelines to post their emergency procedure manuals online by the end of September. Read more….