This is an interesting paper.
Essentially the paper shows how a sinking fund for remediation of environmental impacts from the oil sector could ensure that the Canadian Oil Industry could have been built up for remediating abandoned wells. As no Such sinking fund has been established and maintained the paper goes on to Say that consequently, the Canadian Oil industry is insolvent as it does not have sufficient future positive cash flow enough to fulfill its mandatory remediation obligations.
The idea that the externalities of commercial enterprises should be Taxed or levied is not controversial what is controversial is the idea that such an important industry should be pushed over the edge, this aspect of the paper I find hard to understand.
The Collaborator on the project is a Green Party politician and it is good to see a Green looking at real environmental matters and “Calling them out”, Clive Spashes paper The Brave New World of Carbon trading remains a favorite “Calling out paper” of mine
Confronted with limited time which one would I choose to re-read, I am afraid to say its the Spash paper.
Click to access 2010_Spash_Brave_New_World_NPE1.pdf
See also Chesterton’s fence.
Issue 103 of 'Real-World Economics Review' is out, and the first two papers are by CasP researchers, @blair_fix and @ChrisMoure.
Congratulations!https://t.co/tPFzKa3akT pic.twitter.com/RmKfw2oig3
— Bichler & Nitzan (@BichlerNitzan) April 1, 2023
A century ago, however, Alberta was quite different. At the time, it had a budding social credit movement
whose goal was to make money creation public by wresting the supply of credit from private banks (see
Finkel, 1989 for details). In 1935, the Alberta Social Credit party even won a majority government. But
VRRQ afWeU gaiQiQg SRZeU, Whe SaUW\¶V SROiWicV ZeUe cR-opted by the flow of oil money. The Social Credit
party eventually became a right-wing dynasty ² staying in power until 1971.8
"while the .@AuditorGenAB’s findings in the AG .@AER_news Report are not unexpected, they do provide additional evidence-based confirmation of these deficiencies. The AG’s findings are truly stunning."#ableg #abpoli #AERreform https://t.co/bg3oqfmhny
— Regan Boychuk (@RKBtoo) March 31, 2023
https://en.wikipedia.org/wiki/Hibernia_oil_field
Production[edit]
The Canada-Newfoundland and Labrador Offshore Petroleum Board listed the total oil field production at 704 million barrels (111.9×106 m3) as of August 2010.[10] The same update listed the Proven and Probable estimated reserves as being 1,395 million barrels (221.8×106 m3) of oil.
Newfoundland and Labrador[edit]
Newfoundland and Labrador is Canada’s third largest oil producing province, producing about 4.4% of Canada’s petroleum in 2015. This consisted almost exclusively of light crude oil produced by offshore oil facilities on the Grand Banks of Newfoundland. In 2015 these offshore fields produced an average of 27,373 cubic metres per day (172,000 bbl/d) of light crude oil.[11]
Oil fields[edit]
- The Hibernia oil field is located approximately 315 kilometres (196 mi) east-southeast of St. John’s, Newfoundland. The field was discovered in 1979 and has been producing since 1997. The Hibernia Gravity Base Structure is the world’s largest oil platform by weight since it has to withstand collisions by icebergs.
- The Terra Nova oil field is located 350 kilometres (220 mi) off the east coast of Newfoundland. The field was discovered in 1984 and has been producing since 2002. It uses a Floating Production Storage and Offloading (FPSO) vessel rather than a fixed platform to produce oil.
- The White Rose oil field is located 350 kilometres (220 mi) off the east coast of Newfoundland. The field was discovered in 1984 and has been producing since 2005. It uses a FPSO vessel to produce oil.
A new paper, fresh off the press at the Real-World Economics Review:
'How to make the oil industry go bust'
HT to @RKBtoo for getting me involved with this project.https://t.co/j5ia6bVdtM pic.twitter.com/c9L4GpmI5e
— Blair Fix @blair_fix@mastodon.online (@blair_fix) April 1, 2023
Atmospheric CO2 concentration year 1 to 2018
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June 19, 2019 at 5:52 am
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The Admiral Titley Michael Mann Double Act in the Shilman Law debate with Curry and Moore is something to behold and indicates the Deep State requirement for the Carbon Emissions Manichean red under the bed Myth.
- From Dollar Hegemony to Global Warming: Globalization, Glyphosate and Doctrines of Consent
by COLIN TODHUNTER FacebookTwitterRedditEmail
There has been an on-going tectonic shift in the West since the abandonment of the Bretton Woods agreement in 1971. This accelerated when the USSR ended and has resulted in the ‘neoliberal globalization’ we see today.
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June 19, 2019 at 2:55 pm
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I propose Smils book Energy and civilisation
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June 19, 2019 at 2:56 pm
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Energy and Civilization: A History by Vaclav Smil
My rating: 5 of 5 starsGreat Book, Smil manages to get the science across in an accessible style without utilising the memes of the Climate Change Cult. The Book is all the more serious and important because of that.
here is a Writer that should be taken seriously.
http://theconquestofdough.weebly.com/View all my reviews
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July 26, 2019 at 6:04 am
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Censorship on this site is a disgrace.
Renewables,EROI Why Money Doesn´t cut it when making Energy Investment Decisions!
What are the Odds, Not Even Wrong “Das ist nicht nur nicht richtig; es ist nicht einmal falsch!”
Real World Economics Review censorship and violation of free speech #WrongKindofGreen
