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Bullboard - Stock Discussion Forum Tamarack Valley Energy Ltd T.TVE

Alternate Symbol(s):  TNEYF

Tamarack Valley Energy Ltd. is a Canada-based oil and gas exploration and production company. The Company's asset portfolio is comprised of oil plays in Alberta, including Charlie Lake, Clearwater and several enhanced oil recovery (EOR) opportunities. The Company has an inventory of low-risk, oil development drilling locations. Its Clearwater oil play is located in north-central Alberta. Its... see more

TSX:TVE - Post Discussion

Tamarack Valley Energy Ltd > Someone finally telling it like it is - Jamie Dimon
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Post by Franman184 on Sep 22, 2022 1:58pm

Someone finally telling it like it is - Jamie Dimon

Cutting off investments in fossil fuels would be the road to hell for the United States. This is what JP Morgan’s chief executive Jamie Dimon said during a congressional hearing on a range of topics.

"Please answer with a simple yes or no, does your bank have a policy against funding new oil and gas products, Mr. Dimon?" Rep. Rashida Tlaib asked JP Morgan’s chief executive, after laying out net-zero plans that require a shift away from fossil fuels.

"Absolutely not, and that would be the road to hell for America," Dimon said in response. He went further, as well, saying the country needed to invest more not less in oil and gas.

"We aren't getting this one right. The world needs 100 million barrels effectively of oil and gas every day. And we need it for 10 years," Dimon said, adding "To do that, we need proper investing in the oil and gas complex. Investing in the oil and gas complex is good for reducing CO2. We've all seen, because of the high price of oil and gas — particularly for the rest of the world — you've seen everyone going back to coal."

Dimon’s statements come amid rising opposition among banks to increasingly stringent decarbonization rules, with some, including JP Morgan considering an exit from the Glasgow Financial Alliance for Net Zero, according to a recent report by the FT.

The reconsideration of their participation in the alliance came as a result of growing fears of litigation opportunities, rife in new climate-related requirements for the businesses they fund.

“I am close to taking us out of these global green commitments — I’m not going to allow third parties to create legal liabilities for us and our shareholders. It is immoral and irresponsible,” one unnamed senior executive at a U.S. bank told the FT. “What if we get it wrong, make a mistake or someone lies? Then the bank can be sued, that is an unacceptable risk.”

Comment by Re1ndeer2 on Sep 22, 2022 2:24pm
Jaimie Dimon was adamant about his Fiduciary responsibility to his shareholders....And the rest of the Free World....Hats off
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