Sweden Sells Canadian Government Debt To Help Global Warming

[Economy 52,861]

https://www.bnnbloomberg.ca/commodities/video/sweden-sells-alberta-government-bonds-to-tackle-climate-change~1839734

 

The Central Bank of Sweden has decided to dump all of Alberta's Government Bonds claiming that it's to fight climate change

 

Alberta is both Canada's Wealthiest Province and the largest Oil, Coal, and Natural gas producer in Canada and among the biggest strip miners for precious metals

 

Alberta has the world's 3rd largest Oil reserves (170 Billion) or 97% of Canada's Oil

[Economy 52,861]

I don't get it. Is it to punish Alberta for developing Oil?

 

What about sanctions on USA, Russia, Saudi Arabia and other big producers that have lower environmental regulation?

 

While I support transition to a greener future I'm not sure why Canada always has to be the biggest target. What we do?

 

[Fatigay 21,211]

Hopefully it just leads Albertans to reconsider their main source of wealth and transition towards a sustainable energy source. 

Great news, hope they cut with the others too, slowly but surely.

[JustinTrudeau 2,419]

Well, what a nice surprise.

Guess I know where I'm going for a vacation next month 

[Economy 52,861]

7 minutes ago, thierryrreiht said:

Hopefully it just leads Albertans to reconsider their main source of wealth and transition towards a sustainable energy source. 

Great news, hope they cut with the others too, slowly but surely.

That's the thing. Other Nations that produce tones of fossil fuels and on top of that don't have the strict environmental standards we do get off the hook

 

I feel like Canada (and to a lesser extent the US) are easier targets because the population actually has political say and influence in their democracy and many are pro-environment

 

Good luck getting the population of Russia or Saudi Arabia to challenge their government on green transition

 

So that leaves North America to take all the environmentalist social heat

 

But we're still gonna need oil for decades to come... At least Canada has emissions caps and land reclamation laws and dumping laws most major oil producers don't

[AlexanderMagno 10,746]

16 minutes ago, Economy said:

 

Good luck getting the population of Russia or Saudi Arabia to challenge their government on green transition

 

Sad but true.

 

At the end of the day, these governments are violating human rights, are abusive, get away with environment regulation, and no one does a damn thing about it. And no one cares. And God forbid anyone from trying to change that, because they will turn it into a social issue against Eastern societies, and unlike western societies (who are scrutinised for not incorporating Eastern culture) they have every right to be completely close-minded.

[Economy 52,861]

44 minutes ago, AlexanderMagno said:

Sad but true.

 

At the end of the day, these governments are violating human rights, are abusive, get away with environment regulation, and no one does a damn thing about it. And no one cares. And God forbid anyone from trying to change that, because they will turn it into a social issue against Eastern societies, and unlike western societies (who are scrutinised for not incorporating Eastern culture) they have every right to be completely close-minded.

Basically and I think this is why Canada and the US get the harsh activism

 

Environmentalists couldn't hope to put any kind of social pressure or dent in another other major producer so North America gets all the heat

 

And in the case of the US... The largest Oil producing states like Texas are not only pro oil but they are also by the shore which means other US States cant really block them

 

In Canada Alberta is landlocked by other Provinces making it much easier to stop development for infrastructure which is what's been happening (not one major pipeline they tried to build in the last 10 years has managed to get thru all the courts, legal challenges and protests)

 

Activists see Alberta's Oil sands is the one thing they can actually slow down so they put all the effort there... Although anti fracking President nominees like Warren and Bernie might put a lot of pressure on US industry too

 

But the thing about Canada is our oil sands go really deep and we have the longest cycled projects in the world. It takes up to 50 years to deplete an oil sands field which means even if all new projects were banned, existing projects would mean production wouldn't fully end until at least 2070...

 

That's not counting new technologies being developed to go far deeper which could make each field project yield oil for well over 100 years