RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Peyto has been a good inverse trade to AecoDestroying the O&G industry with loony legislation is a subsidy now. Trudeau set a stage where Kinder was forced to sell to him. The pipeline is a licence to print money. Good old South American style appropriation.
Lower royaltys are a subsidy? Why should there be royalty's at all?
Yasch22 wrote: TerribleEng: well said.
The main reason I used the CER quote about electricity generated from fossil fuels was simply to focus on the high amount still generated from coal. I was newly surprised by how high it is.
On the TMX purchase as a subsidy, it remains a fact that despite its origin with industry, and despite any consideration of the regulatory system, or of the effective, concerted decades-long effort to by American activists, Kinder Morgan gave up on TMX. The only way to keep the flame lit was with government action. The beneficiaries of that action are oil producers.
On the other hand, I sometimes wonder if the poker players running KM saw an opportunity to soak Trudeau and Morneau for the $5b, knowing full well how much political capital they'd already thrown into the pot. In that case you could say KM got a kind of subsidy. $5b for the removal of one of their biggest headaches.
Fwiw, I believe Trudeau acted on principle in this case. He knew exactly what support for the pipeline could mean for his re-election chances. It was a core issue for those who opposed it (NDP, Green, environmentalists of all political stripes), but only a secondary issue for supporters outside of the Prairies.