Environmental advocates on Thursday delivered a giant voided check for $15 billion to TransCanada's office in Washington, D.C., in a symbolic rejection of the "frivolous investment lawsuits authorized by trade agreements" like the Trans Pacific Partnership (TPP) and NAFTA.
All corporations must join to set up a free trade profit protection fund. Settlement payments are taken from this fund, not from unrelated parties like taxpayers and governments. Governments simply enforce the laws. If business cannot obey the law, then all assets are seized, licenses revoked, arrests made since corporations as just like any other person.
And how many times has this happened? Can you provide a list? Look what Exxon got away with after their Exxon-Valdez oil spill that STILL HAS NEVER BEEN CLEANED UP with crude oil a mere inches just below the sand on beaches and underwater. Not a scintilla of materials were seized as a result...Exxon just poured million$$$ into the coffers of their legal beagles and settled with claimants for a mere $75,000 each whose livelihoods will never be recovered. The fines were passed on to the shareholders, which is the practice.
TransCanada does not have enough money to clean up the devastation that their tar sands operations in Alberta have caused and the flames in and around Ft. McMurray (displacement of 90,000 people) are proof of that devastation. This is not just a forest fire, to be sure.
People were wondering why transcanada persisted in building sections of the Pipeline in the South even as the link to go over the border not yet approved.
This is why. They planned to sue all along.
Maybe you thought we had forgotten or never knew what your corporate ethos is all about.
So thank you so much for reminding us that you clearly think you are above democracy and that trade deals colluded on and created in private are part of your inherent elitist right to supremacy. Thank you so much for shoving your raw neoliberal capitalism in our faces because, well, you have the power to do so.
I look forward to your dissolution and the world-wide fame you deserve for what you really stand for.
Thanks TransCanada for everything.
This lawsuit scam by TransCanada for "lost profits" is just the tip of a very large and fraudulent iceberg if we allow the Obama & Co supported TPP and TTIP to pass! Fortunately millions are waking up to these and numerous other parasite scams!
It illuminating to see how these new trade deals are being designed and using these "loss of profits" clauses to directly counter a Countries Sovereignity.
Generally they are structured to allow a Foreign Corporation to sue a given country for loss of profits. Since Transcanada is based in Canada , they can not sue the Government of Canada if said Government passed some regulation that interfered with their profits. They can however sue the Government of the United States for the same. The same applies to a Corporation based in the USA wherein they could sue Canada but not the US for passing regulations that interfere with their rights to profits.
This just gives the illusion that the people of a given country are represented inside their respective "democracy" by their own Government.
What will happen is Corporations will just move from one country to another "on paper" and use the threat of these lawsuits to do whatever they wish inside of a country that is targeted. Domestic Corporations that might be subject to those same regulations will then claim they can not compete with those foreign firms because the same regulations do not apply to them and this used to get rid of any and all regulations.
The reason they push these trade deals with such urgency is they want to have in place a mechanism that can head off the growing environmental movement.
Another great con.
We owe a debt of gratitude to Greenpeace who just blew the corporate cover.
I agree with the sentiments of the groups in the article as well as the commenters above or below, depending. I have this divergent thought that I feel the need to express:
Premise: money isn't real. It's a fiction humans invented that now controls us.
What if we could induce corporations to trade fictional money for not destroying the environment?
Who would be the real losers and winners then?
Should we, those who care about the environment and social justice, oppose or be in favour of this kind of trade?
Isn't it like giving the baby plastic dishes to keep them from smashing the valuable china?
Yes, it would take waking up from the spell that such fictions cast and that's not easy but is it impossible?
What are other, less impossible alternatives that would not simply stop the TPP?TTIP?TISA, etc., but prevent the corporations from doing the damage to our biosphere?
Hope to hear your thoughtful replies.
What you suggest is very much like the cap and trade scheme that Congress tried to force down our throats three or four years ago.
It essentially created a multi-billion dollar trading market out of thin air. Corporations/countries who decreased their carbon footprint got credits which could be sold to other companies who either did not decrease or actually increased their carbon footprints. Lots of money to be made, but no real reduction in greenhouse gases.
I am not at all keen to pay corporations to stop doing bad stuff, for which they have capitalized on for many years, whether or not actual value is attached to the payment. The solution lies in taking away these companies constitutional rights. They are neither people nor elected officials and have no business participating in our elections, creating policy and writing law. The single most harmful doctrine created by the Supreme Court was giving corporations equal protection under the law (followed by 1st, 4th, and 5th amendment rights) while maintaining general liability protection, and it is playing out with devastating effects on the environment and our democracy.
Don't encourage the militias - please!