Pipelines Are a Lousy Bet

From National Public Radio, NPR:

A new report by an energy watchdog group says companies are betting over a trillion dollars in risky gas pipeline projects. 

Global Energy Monitor says these projects are hugely expensive - so the payback is over decades. Climate scientists say we need to stop burning fossil fuels completely by 2050. 

That means the pipelines could become stranded assets for the companies. 

Enbridge Energy is engaging in a particularly risky expansion, according to Ted Nace, co-author of the report. He says Enbridge, the world's third largest pipeline company, has a heavy debt load. 

That could leave the company at risk of needing government bailouts if global demand for natural gas stays stagnant, or falls. 

Nace says investors are already turning away from fossil fuel projects over concerns about climate change.

You're Right, Justin. Delusional, but Right.

The prime minister has spoken. Justin Trudeau proclaimed that his pipeline fetish isn't about "punishing" British Columbia. The man/boy prime minister is utterly, indisputably right. It isn't about punishing British Columbia. However the Dauphin's "my way or the highway" approach to the Trans Mountain pipeline is all about steamrollering British Columbia in order to imperil British Columbia - all, in his mind perhaps, with the best of intentions. Then again, maybe even he doesn't believe it.

Trudeau has made up so much nonsense, broken so many promises, told so many whopping lies about this pipeline that he may not even be able to tell fact from fantasy any more.

He's invented non-existent "science" that shows his pipeline and supertanker flotilla can cross British Columbia and transit its coastal waters safely. This science that he's shown no one. The science that Environment Canada and the Royal Society of Canada say hasn't been done. Until he produces this supposed science he can't complain if his claim is treated as just another one of his self-serving falsehoods.

He's propped himself up with findings of the National Energy Board that he himself earlier rebuked as corrupt, untrustworthy, in the pocket of the energy industry.

Our Stephen Harper "Mini-Me" has fed Canadians a plate of steaming horseshit about constitutional powers that he dare not take to court to enforce.

He's not out to punish British Columbia but he sure as hell is out to subdue it, to subjugate it, to sweep aside the province's own legitimate constitutional powers that stand between him and his ability to imperil the province and force on it the very real risk of catastrophic, irreparable harm. And, to Trudeau, all of that is within the "national interest."