1 year on, most oil-and-gas bailout money has moved, federal government says

Business | 207279 hits | Nov 18 7:20 am | Posted by: DrCaleb

Canada's $1.6-billion bailout for Alberta's battered oil industry is well underway, but with little transparency about who is getting the money and for what. Almost $1 billion of the package of loans, guarantees and government grants announced last Dec

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by DrCaleb
Mon Nov 18, 2019 3:32 pm
Sweden's central bank said Wednesday it had sold its Alberta-government issued bonds because it will no longer invest in assets held by governments or companies with large climate footprints. A day later, the European Investment Bank, the non-profit lending institution of the European Union, announced it will not invest in fossil-fuel projects after 2021.

Both decisions followed a warning from Norway's central bank on Nov. 5 that climate risk must be considered in all assessments before investments are made.

The UPC were warned. Kill the carbon levy, and lose investors.
by Thanos
Mon Nov 18, 2019 4:44 pm
In a shout-out to small-town cheap I wonder how much of this money will one day be revealed to have ended up as monogrammed golf balls at a private club somewhere.
by DrCaleb
Mon Nov 18, 2019 4:46 pm
I'm sure most of it wound up as Executive Bonuses.

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