Setting the record straight on the day’s top anti-oil and gas media stories
ACTIVIST CLAIM: NDP and Green party candidates recycle activist talking points about Trans Mountain and government subsidies to the oil and gas industry.
THE FACTS: Electoral candidates promoting misinformation about the oil and gas industry do a disservice to voters.
New Westminster-Burnaby candidates tackle tough questions on climate change at all-candidates meeting
Here are some facts and sources to have a reasoned conversation about Trans Mountain:
- The NDP and Green party candidates claim the Green New Deal will be able to successfully transition workers from the oil and gas industry, these “green jobs” are often created overseas, rather than domestically. A significant portion of jobs in an energy transition are mining jobs, processing jobs, and manufacturing jobs.
- NDP candidate Peter Julian and Green Party candidate David MacDonald recycle the claim that the government gave away $18 billion to the oil and gas industry. This figure comes from an activist report authored by Environmental Defense. In fact, most of that comes from the Export Development Bank, an organization that is financially self-sufficient and raises money just like a bank, through fees and global markets.
$3.2 billion of actual government funding was used for cleaning up wells and other environmental initiatives.
- Julian also makes the claim that Trans Mountain will increase emissions, however this study from Navius Research shows that Trans Mountain can help lower global emissions by 1,600,000 tonnes instead of being the climate catastrophe they claim.
- Green Party candidate David Macdonald recycles the claim that there is no market for Canadian oil in Asia, however in 2018, the Port of Vancouver shipped 4.6 million barrels worth $335 million dollars to China at almost $54 per barrel, this was well above the discounted price Canada received from U.S. importers.
- Despite the claim from NDP candidate Peter Julian, the Trans Mountain project cost is not $20 billion. The anticipated cost that has been calculated is $12.6 billion. In contrast, the pipeline is expected to bring almost four times as much, around $46.7 billion once completed.
Stories that get it right:
The Canada Energy Regulator (CER) has granted TC Energy the ability to keep its insurers undisclosed, despite the repeated attempts of anti-oil and gas and divestment activists. This judgment will help provide security for TC Energy’s assets and the success of future projects. Activist groups have been successful in getting insurers for Trans Mountain to back out of the project due to massive campaigns against respective insurance providers.