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How Low Can It Go? Collapsing Crude in Canada's Election Season


#1

How Low Can It Go? Collapsing Crude in Canada's Election Season

Hannah McKinnon

In the lead up to the Canadian federal election, the economy is front and centre, but not in the way the incumbent government would have liked. The Conservatives have gone to great lengths to brand themselves as good economic managers, but with the Canadian dollar hitting its lowest point in over a decade, their election case is losing credibility fast.


#2

And if the picture accompanying this piece is any indication, the Canadian Tar Sands industry is not economically feasible when given carte blanche - absolutely no environmental regulation or responsibility. Looking at that I have to wonder if all of Canada were underlain with tar sands would Harper's government lay waste to the entire nation?

Even living through the county-wide devastation of "area mining" for coal couldn't desensitize me to the abomination that is tar sands oil extraction. I can't imagine that these pits will ever be anything but open toxic sores on the planet's surface for eons to come.


#3

It's the Law of Karma at work.

All of the killing in the Middle East using the pretense of terrorism was mostly in pursuit of oil and the "petro-dollar," or hegemonic global status of the U.S. economy. No matter that so much of it was inflated by the faux products of packaged loans sold as AAA assets all over the world. One implosion of graft and "ill-begotten wealth" follows another.

It's been mentioned that the Fracking Industry--which leaves the Earth Mother as shorn and tattered as do the disgusting Canadian tar sand operations--is also imploding in Texas. And it IS because oil prices are so low.

With Iraq back "on tap" and so many machinations in place to cripple the Russian and Venezuelan economies, the karmic blowback begins to hit the "peace loving" nations that brought so much war and misery to so many innocents.

On the plus side, these contractions just might wean the world from Big Oil since necessity serves as the Mother of Invention and the global financial perturbations have only just begun. These contractions will force people to adapt to their surroundings in new ways. It's the beginning of the end of corporate control by those whose only value is what they can wring--profit wise--out of the disasters that THEY spread. And Canada's Harper is but one in a long line of many such imbeciles.


#4

Could oil prices be lowered in concert with the falling price of renewable energy?

If the Kochs are willing to spend millions in disinformation campaigns about global warming in order to keep burning their fossil fuels, wouldn't they and other fossil corporations be willing to lower the price of oil to keep renewables from taking over?


#5

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#6

"Looking at that I have to wonder if all of Canada were underlain with tar sands would Harper's government lay waste to the entire nation?"
* Of course, if it would help the bottom line!
;-})


#8

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