Ask Me Help Desk - Quid's $15 billion blunder .

Quid's $15 billion blunder .

Quid's cancelling of the Keystone XL phase 4 extension costs 11 thousand jobs . Quid said at the time that cancelling the pipeline is in the US interest because our allowing the pipeline to be built (basically improving a pipeline that is already in existence ) would “undermine U.S. climate leadership by undercutting the credibility and influence of the United States in urging other countries to take ambitious climate action.”

Part of US leadership is honoring terms of treaties . TC Energy ;the company that owns the pipeline filed suit claiming that cancelling the deal violates US obligations under NAFTA. TC has a good case . They invested $9 billion under the assurances that their investment was protected under the US permit . After years of environmental and other reviews, that was a reasonable conclusion. Quid's cancel was on a whim with no review or comment period by TC Energy and other interested parties

The real question besides the probable loss of $15 billion that will have to be paid to TC Energy is how can investors trust their investments will be honored and not terminated based on the political winds in America ? Without a NAFTA arbitration , Canadian investors will be helpless against Quid's environmental policy since a lawsuit against a U.S. President in U.S.courts has little chance.

What this tells Canadian and Mexican trading partners (with Canada being the largest US trading partner ) is that their investments in the US are unprotected without 3rd party trade agreement arbitration.

But take heart . If the US loses the suit (which it probably will ) .The sale of Hunter Biden art should be able to cover the $15 billion. <sarc>

Very few pols, and certainly no liberal dem pols, are concerned anymore about 15 billion dollars. There was a time when it would have meant either raising taxes or cutting spending somewhere else, actions that most pols dislike. Now, in the happy days of monopoly money, it's no problem. Just write them a check. The liberal news media will deep six the story, and all will be well...for now.

Building the pipeline has a beginning and end for jobs for construction workers. The alternative, trucking the oil, gives unending jobs to drivers, motels/hotels, restaurants/diners/fast-food places, et al.

Better yet, if we transported it all in pickup trucks, a couple hundred gallons at a time, then we'd have a lot more jobs and a lot more economic activity. Correct?

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Originally Posted by jlisenbe

Better yet, if we transported it all in pickup trucks, a couple hundred gallons at a time, then we'd have a lot more jobs and a lot more economic activity. Correct?

No, too dangerous.

Plus, trucking it means the pipeline won't be under indigenous lands and private property/farmland that had been grabbed via eminent domain.

Not to mention pipeline leaks and breaks....

I can only assume you are joking. No one asserts that trucking oil is safer or more economical than a pipeline.

Okay. Then put the oil on trains.

Another more expensive, more dangerous, and less eco-friendly solution. Pipelines are far and away the most sensible alternative. But as I understand it, that is exactly how the oil is being moved. The question concerns what the Biden admin thought it was accomplishing by cancelling the remainder of the pipeline project.

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Originally Posted by jlisenbe

by cancelling the remainder of the pipeline project.

He stopped U.S. land theft by a Canadian company.

nope almost all the land for phase 4 was already purchased by TC Energy .The only hold up before Quid's dictate was permitting and some litigation delaying it .

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Originally Posted by tomder55

nope almost all the land for phase 4 was already purchased by TC Energy .The only hold up before Quid's dictate was permitting and some litigation delaying it .

Part of its route was to be over the Sandhills in Nebraska. Thank goodness Biden revoked the permit for the pipeline on his first day in office. On June 9, 2021, the project was abandoned by TC Energy. Only 8% of the pipeline was constructed. (Wikipedia)

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Part of its route was to be over the Sandhills in Nebraska.

How is that significant?

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Only 8% of the pipeline was constructed.

I don't think that's even remotely true.

$15 billion loss to American taxpayers when the law suit is settled not including 11,000 lot jobs ... Great Job Quid ! AND Alberta Canada is likely to either join the suit or file on their own joining 21 other states that have filed .

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Originally Posted by tomder55

$15 billion loss to American taxpayers when the law suit is settled not including 11,000 lot jobs ... Great Job Quid ! AND Alberta Canada is likely to either join the suit or file on their own joining 21 other states that have filed .

But the lands and especially the safety of Canadian and US indigenous peoples and farmers/ranchers have been preserved. What's more important, wealth or humanity?

what a pant load ! Safety was the least issue . You worry about safety when the alternative is Warren Buffett trains ;trucking ,or sending the oil to the Canadian Pacific coast to be refined in less safe Asian plants ?

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Originally Posted by tomder55

what a pant load ! Safety was the least issue

Yup, safety for environmental reasons (pollution, water contamination, etc.), disturbance of historical and archeological sites, demolition of burial sites, pipeline workers infiltrating both indigenous and Caucasian settlements to rape and rob. What's more important, wealth or humanity?

There was never any safety threat to indigenous peoples or ranchers. It’s just lib dem propaganda.

It’s all just unsubstantiated nonsense.

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Originally Posted by jlisenbe

There was never any safety threat to indigenous peoples or ranchers. It’s just lib dem propaganda.

It’s all just unsubstantiated nonsense.

Put on your google hat and do some honest research.

You have family members living anywhere near Houston or Port Arthur?

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Put on your google hat and do some honest research.

And yet once again, you cannot back up your claims, so you desperately want someone else to do it. No thanks.

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Yup, safety for environmental reasons (pollution, water contamination, etc.), disturbance of historical and archeological sites, demolition of burial sites, pipeline workers infiltrating both indigenous and Caucasian settlements to rape and rob.

Simply untrue.