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Looks like Kinder Morgan dodged a very big bullet - but we're in the line of fire 
Posted (2018-06-14)

Prime Minister Justin Trudeau just dropped $4.5 billion of taxpayers’ money on a 67-year-old pipeline, with at least another $7 billion needed to finish what the private sector backed away from.

Is this shrewd investment?

Not according to researchers who just published a paper in the prestigious journal Nature Climate Change. The study ‘Macroeconomic impact of stranded fossil fuel assets’ predicts that up to $4 trillion in global oil investments will evaporate as the world transitions to a low carbon future.

Their research indicates rapidly stranded oil assets could destabilize the global economy before 2035. ‘Our conclusions support the existence of a carbon bubble that, if not deflated early, could lead to a discounted global wealth loss of US $1 to $4 trillion, a loss comparable to the 2008 financial crisis.’

Story here:https://thetyee.ca/Opinion/2018/06/08/Canada-Buys-Pipeline-Oil-Bubble-About-To-Burst/

Study here:https://www.nature.com/articles/s41558-018-0182-1.epdf?referrer_access_token=9ULeekjKBlax4tHPnjmyGdRgN0jAjWel9jnR3ZoTv0NBDAdbQ1RWHSa6L720gc7lUR_z1wTnjPIOyV5lXvFMVIyNMlKx4fgOStd2gybbUXpfV764_dz205QjpB4tBquTRXKIQ8mR_xyGe95EM1tNvSwwTOUkuXRQw4zO84NVQliyxvu7bPSvZvOOIlC3TLMlbupeWtl_D9HrZzGiwB84g-a8rSjWL67Ek5WPcG1FtU-cGxW8zL320pSUemzutUmg8EsGeHfTIMXIZCx90Y-e7ooB__oL5oo3DAPpPA8pNaxhDOZ0VarpiCHtz1AkAjZH&tracking_referrer=www.theguardian.com

David McLaren
Email: david.mclaren@utoronto.ca

Twitter: @JDavidMcLaren

Web: https://jdavidmclaren.wordpress.com/

 


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