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Terence Corcoran: Trans Mountain Is The Cost Of Corporate Canada Surrendering To Green Enemies

Terence Corcoran, Financial Post

Ottawa’s desperate decision to buy Trans Mountain is the logical outcome of an incoherent governance regime controlled by a triumvirate of social, political and economic institutions

With the pipeline fiasco, Canada has now come face to face with the ultimate and disastrous consequences of the grand coalition that has seized control of national policy-making.

The Trudeau government’s desperate decision to ultimately purchase the Trans Mountain pipeline — for the alleged “fair price” of $4.5 billion — is the logical outcome of an incoherent governance regime controlled by a triumvirate of social, political and economic institutions.

The institutional troika is made up of green activists, pandering politicians and capitulating corporations. All are jointly and severally responsible for creating the current legal and economic crisis over Canada’s energy and resource developments, with many more crises to come.

The country’s economic future is now in the hands of this trio of power-wielding forces that are gradually coalescing around ideas that aim to strangle Canadian economic development in the name of environmental protection. It started decades ago when the allure of socialism faded and the prospect of green power emerged as the next big political power game at the United Nations and elsewhere.

Over the past few days, members of the green troika were actively pushing their similar if not identical themes.

In the green camp, long-time activist Tzeporah Berman appeared on CBC Radio’s The Current on Monday to declare that Kinder Morgan’s Trans Mountain pipeline is “the last gasp of the fossil fuel industry.” Berman, who once acted as an oilsands adviser to Alberta’s NDP government, has compared the oilsands to the fiery fictional wasteland of Mordor in Lord of the Rings. She also supported B.C. Premier John Horgan’s campaign to kill the Trans Mountain pipeline project.

During the same segment of The Current, Martha Hall Findlay, CEO of the Canada West Foundation, didn’t disagree on the ultimate objective: “Tzeporah and I are going to disagree on some things, but I think where we would agree is if we could have a world tomorrow with zero greenhouse gas emissions, that would be fantastic.”

Fantastic for whom, Findlay didn’t say. Certainly not for the foundation of Canada’s west, although her views reflect the official position of most of Canada’s supplicant corporate sector, including major institutional investors, financial firms and energy companies. For at least two decades, Canada’s corporate leaders — including those in the oil sector — have been coddling environmentalists and playing along with the activists who are out to destroy the oil industry. Scores of corporations — including such energy players as Cenovus, Suncor and Shell Canada — have given their official imprimatur to carbon taxes and other elements of carbon control. Corporate Canada’s long flirtation with environmental activists is one reason Alberta’s energy industries are now caught in an existential crisis, with no end in sight. That’s what happens when you endorse your enemies’ objectives.

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