In a world where there is increasing demand for responsibly produced low-carbon energy, protesting insurers for oil and gas projects could unintentionally increase global emissions.

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Setting the record straight on the day’s top anti-oil and gas media stories

ACTIVIST CLAIM: After years of pressure, radical anti-oil and gas activists get major insurers of Trans  Mountain to back out of the project and continue to pressure others.

THE FACTS: In a world where there is increasing demand for responsibly produced low-carbon energy, protesting insurers for oil and gas projects could unintentionally increase global emissions.

THE SOURCES:


Here are some facts and sources to have a reasoned conversation about Trans Mountain:

  • Would you tell insurance companies to stop insuring cars because you don’t like cars? We make insurance mandatory for your car and many other things like pipelines because there is a public benefit.  In the very unlikely event of a serious car accident not only are you covered but so are other people.

    It is simply irresponsible and against the public interest to campaign against insurance.  The pipeline is covered but so is the public. The problem with activists who don’t like pipelines is they don’t think past that.
    https://www.investopedia.com/terms/i/insurance.asp


  • Activists quoted in this article falsely claim that TMX will be a carbon bomb. 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.
    https://www.ceaa-acee.gc.ca/050/documents/p80061/115457E.pdf
  • Even though the Tsleil-Waututh Nation is against the TMX project, there is a total of 73 First Nation communities that have signed benefits agreements in the regions affected by the TMX pipeline, further signaling mutual cooperation and benefits between the Canadian oil and gas industry and the Indigenous people of Canada.

    120 of the 129 communities along the path either support the project or do not oppose it.
    https://www.transmountain.com/indigenous-benefits 

  • Activists are urging Chubb to get out of oil and gas insurance altogether but the reality is oil and gas demand is growing in non-OECD developing countries according to OPEC. Studies show that Canada has a competitive advantage in carbon production and can provide the best in the world responsible energy to these countries, and fight the global problem of emissions by producing resources domestically.
    http://www.naviusresearch.com/publications/reversing-carbon-leakage/


Stories that get it right

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