{"id":64049,"date":"2022-11-07T10:36:13","date_gmt":"2022-11-07T15:36:13","guid":{"rendered":"https:\/\/olduvai.ca\/?p=64049"},"modified":"2022-11-07T10:36:13","modified_gmt":"2022-11-07T15:36:13","slug":"oil-is-bankrupt-if-we-want-it","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=64049","title":{"rendered":"Oil is Bankrupt (If We Want It)"},"content":{"rendered":"
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Oil is Bankrupt (If We Want It)<\/a><\/h3>\n<\/div>\n
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Alberta\u2019s Oil Companies Are the Walking Dead.<\/strong><\/p>\n<\/div>\n

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\"This<\/picture><\/div>\n<\/div>\n<\/figure>\n

Albert\u2019s oil-patch is a zombie, the walking dead. The companies that extract oil there owe more money than they can pay, more than they can borrow, more than they can earn. If they were made to pay their lawful debts, they would all go bankrupt, and, in so doing, would end the extraction of one of the dirtiest, worst sources of oil in the world.<\/p>\n

Now, there\u2019s an argument that\u00a0all\u00a0<\/em>the oil companies are busted, Alberta or no. If they were made to pay for the damage they\u2019ve done to our world, the millions their deadly products have killed and the billions they threaten, they would all be cleaned out.<\/p>\n

But that argument depends on making those companies pay for those debts, which are not\u00a0legal\u00a0<\/em>debts, but moral ones. Big Oil has proven itself remarkably adept at avoiding those moral debts . The costs that Big Oil imposed on all of us are diffused, the profits they gained through their crimes are concentrated into their hands, so it\u2019s very hard to hold them to account.<\/p>\n

The economics researcher Blair Fix has written\u00a0a long companion piece<\/a>\u00a0to\u00a0The Big Cleanup<\/em><\/a>, a report by his collaborator Regan Boychuk for the Alberta Liabilities Disclosure Project (ALDP).<\/p>\n

In his essay, Fix examines the power relationships that have allowed the oil companies to go on risking our civilization and our species with impunity. He observes that many environmentalists claim that if the true costs of the oil industry were borne by the extraction companies, they\u2019d all be bankrupt already.<\/p>\n

\u2026click on the above link to read the rest\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"

Oil is Bankrupt (If We Want It) Alberta\u2019s Oil Companies Are the Walking Dead. Albert\u2019s oil-patch is a zombie, the walking dead. The companies that extract oil there owe more money than they can pay, more than they can borrow, more than they can earn. If they were made to pay their lawful debts, they […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,3,4],"tags":[1082,103,328,588],"class_list":["post-64049","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","category-environment","tag-alberta","tag-canada","tag-fossil-fuels","tag-oil"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/64049","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=64049"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/64049\/revisions"}],"predecessor-version":[{"id":64050,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/64049\/revisions\/64050"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=64049"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=64049"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=64049"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}