Trudeau's comments, and share buybacks ... Trudeau: Does anyone else think Trudeau's emissions cap comments for the oil patch are playing right into AXE's hand?
Premier Kenney, unfortunately, has already crawled into bed with the carbon capture execs, so there will be that to contend with.
Jason Kenny:
“The single most important way the prime minister could help us would be putting real resources behind a huge expansion of Alberta's carbon capture and storage technology,'' Kenney said.
Mr. Kenney needs to get out of the way and make room for some real progress in oil and gas production emissions reduction (instead of propping up the old regime and then capturing the emissions - that just adds an expensive new problem to the old problem).
Buybacks:
Also, I am completely incensed that the major oil and gas players are taking their latest windfall earnings and using them to buy back shares in their respective companies. I am fully aware of the investor gains created by buybacks, but buybacks do nothing to help companies - only shareholders.
It is no secret that global oil and gas consumption is being reduced, or at least there are seriously major plans to reduce consumption. So how do the oil and gas companies respond to this impending implosion of their businesses? They have decided that it is not important to use the money they have earned from selling their products, which have caused the global warming problem we have, to try and find solutions to sustain their businesses. Nope. Their answer is to tell humanity to F-off, and take all the money and run. Leaving the rest of us with a huge mess to clean up.
Good thing I am not Prime Minister. I would ban share buybacks for oil and gas companies, and, instead, give them incentives to invest those same dollars into new research for sustainabale energy.
It is so hard to find responsible leadership in a corporatocracy.
Let's get this damn pilot test done, show everyone the technology works, and start some real emissions reductions in Alberta.
Go AXE!
As always,
glta
smitty