‘A short on human ingenuity’: Why CPPIB’s new chief says fossil fuel divestment is off the table under his watch

The new chief executive of the Canada Pension Plan Investment Board has no plans to institute a blanket divestment of oil and gas assets during his tenure, in part because he believes science will find solutions to many of the issues that have made environmentalists and some investors question such holdings.

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‘Three-dollar gas will be the norm by Memorial Day’: Traveling Americans will pay 30% more at the pump compared to a year ago when they emerge from COVID-19 lockdowns as fuel prices surge toward 7-year high

Americans who have been cooped up at home over the past year during the COVID-19 pandemic will likely pay $3 a gallon for gasoline when they emerge from lockdowns this summer and resume traveling, economists say.

Motorists in the United States have not paid an average of $3 per gallon since 2014.

As of Tuesday, drivers in California, Hawaii, Washington State, Nevada, Utah, Oregon, Alaska, Arizona, Illinois, Pennsylvania, and the District of Columbia were paying an average of more than $3 per gallon.

California motorists are paying an eye-popping $3.88 per gallon – the highest rate in the country, according to the American Automobile Association.

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Canada calls Michigan’s shutdown of Line 5 a threat to country’s energy security

Natural Resources Minister Seamus O’Regan is calling Michigan’s order to shut down the Enbridge ENB-T
pipeline Line 5, a major petroleum conduit for Central Canada, a threat to this country’s energy security.

He said Canada considers the continued operation of Line 5 “non-negotiable” for this country.

It is the strongest language the federal government has used to date for a bilateral dispute that is quickly becoming a test of the budding relationship between Prime Minister Justin Trudeau and new U.S. President Joe Biden.

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“I don’t think Canada can stand by this at all”: economist urges action on Keystone XL cancellation

The Keystone XL pipeline was to carry 830,000 barrels of heavy crude oil a day from Alberta to Nebraska, employing 2,800 Canadian workers during construction. It was slated to be the first pipeline fully powered by renewable energy sources.

But on his first day of office, US President Joe Biden revoked TC Energy Corporation’s permit to build Keystone XL.

“This is actually a very serious issue and it needs to be dealt with,” University of Calgary professor of economics Jack Mintz said at a panel discussion event held by the Macdonald-Laurier Institute on Tuesday.

“I don’t think Canada can stand by this at all.”

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John Kerry To Gas And Coal Workers: Make ‘Better Choices’ Because Your Jobs Are Going Away

When asked in Tuesday’s press conference what he would say to the people whose livelihoods are ruined due to Biden’s frenzied anti-fossil fuels orders, including halting leasing on federal land to use for oil and gas and canceling the Keystone XL pipeline, Kerry simply said those workers who were struggling need to make “better choices” for newer, greener jobs.

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Justin Trudeau is Happy to let Joe Biden lead him by the Nose

Prime Minister Justin Trudeau could have quite easily fought to keep the Keystone XL pipeline project alive; it may have only taken a bit of pushback against President Joe Biden to make it clear the pipeline project is vital in maintaining the Canada-US trade relationship, but Trudeau provided zero resistance.

The other day Trudeau when called by Biden to discuss the Keystone XL pipeline cancellation simply said that he understood Biden needed to fulfill a campaign promise and was “disappointed” that his administration was cancelling it.

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3 Harmful Consequences of Biden Killing the Keystone XL Pipeline

President Joe Biden wasted no time after Wednesday’s inaugural ceremonies before getting to work. He signed 17 executive orders and memorandums—by far the most in history on a president’s first day—one of which halted construction of the controversial Keystone XL pipeline, which would have carried crude oil from Canada through the US.

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MORGAN: Alberta can become Texas North

In Ayn Rand’s most famous novel, Atlas Shrugged, thinkers and producers responded to a world of strangling state control by going on strike. As an ever hungrier government crushed enterprise while growing into an unsustainable size, producers vanished to a fictional hidden retreat called “Galt’s Gulch” where genuinely free commerce could be practiced.

In today’s world of growing state control, Alberta has the potential to become Canada’s “Galt’s Gulch”.

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