Is The Oil Industry Canada's 'Deep State'?

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Includes: BNO, CNDA, DBO, DBRT, DNO, DTO, DWT, EWC, EWCS, FCAN, FLCA, HEWC, KMI, OIL, OILD, OILK, OILU, OILX, OLEM, OLO, QCAN, SCO, SZO, UBRT, UCO, USAI, USL, USO, USOD, USOI, USOU, UWT, WTID, WTIU
by: Danielle Park, CFA

Justin Trudeau and Canada’s political elite is fighting for the Tar Sands and oil industry’s interests, even if it means Canada misses all of its climate targets. Kevin Taft, ex-Liberal Party politician and author of ‘Oil’s Deep State’. Here is a direct video link.

For some more discussion on why the Trudeau government may have agreed to buy out Kinder Morgan (NYSE:KMI) and take over building a pipeline in contradiction of all its previous climate commitments, see "Did Canada buy an oil pipeline in fear of being sued by China?":

Trudeau is desperate to keep China happy. In 2016, his government began negotiating a free trade agreement with China. At the time, the Globe and Mail reported, “a senior Chinese official said this will require Canadian concessions on investment restrictions and a commitment to build an energy pipeline to the coast”.

Less than a year later, Trudeau approved the expansion of the Trans Mountain pipeline. Talks for the free trade agreement are ongoing.

Now he has bought that pipeline, and will have to live with the political fallout, which will likely include protesters, court cases and other acts of civil disobedience. In what might be a strategy to avoid lawsuits from Chinese companies that may result in massive secret payouts, Trudeau’s government may find itself arresting Canadians.

Disclosure: No positions.