This is a news compilation setting the record straight on the day’s top anti-oil and gas stories and providing research and facts to counter misinformation about the oil and gas industry.
Today across Canada, anti-oil and gas activists held small protests to push a “Defund the TMX” campaign that has been created by 350.org to push for a ‘green’ recovery.
Canada should be focused on a responsible recovery and projects like Trans Mountain that stimulate foreign exchange and revenue.
- Despite claims in the petition about shaky economics, In 2018, the Port of Vancouver shipped 4.6 million barrels worth $335 million dollars to China at almost $54 per barrel, well above the discounted price seen from exports to the United States. China is also dramatically increasing its heavy oil refining capacity to meet demand.
https://vancouversun.com/opinion/op-ed/stewart-muir-chinas-appetite-for-canadian-oil-continues-to-defy-marketplace-myths / https://www.hellenicshippingnews.com/china-to-dominate-asian-refinery-coking-units-capacity-growth-by-2024-says-globaldata/
- Producers are expected to see $73.5 billion in increased revenues over 20 years while federal and provincial governments are expected to see $46.7 billion in additional taxes and royalties from construction and operation of the pipeline expansion.
- As of September 30, 2020, there were approximately 6,730 people working on the Project.
- Despite some local opposition due to worries of a spill in the Burrard Inlet, since 1956 there has never been a spill from tankers transporting oil from Trans Mountain’s Westridge Terminal.
- This study by Navius Research shows that the project can help lower global emissions by 1,600,000 tonnes and fight climate change instead of dramatically increasing them.
- While there has been opposition from a few Indigenous groups along the pipeline’s path, 120 out of 129 communities do not oppose the project.
Here are some stories that get it right, or mostly right.
On Friday, Canada’s Minister of Natural Resources, the Hon. Seamus O’Regan, announced up to $12 million in funding over the next two years for the Indigenous Natural Resource Partnerships (INRP) program for Indigenous communities and organizations in the provinces of British Columbia and Alberta. As Canada’s Indigenous communities begin to invest more in natural resource extraction, this program is aimed to continue to increase Indigenous people’s participation in economic opportunities related to Canadian oil and gas infrastructure development.