Jason Kenney's Bad Bet on a Risky Pipeline Project - 2020-04-04
Alberta Premier Jason Kenney justified committing $7.5 billion in government funding to get the Keystone XL pipeline built by saying it was "a solid bet" that could revive the province's battered economy.
But with the price of oil crashing below $5 per barrel, oil insiders predicting "energy market Armageddon," and a U.S. election that could result in a new administration blocking the pipeline and moving to zero-carbon energy alternatives, some experts see it as financially risky to the extreme.
"It's not a bet I would want to make, let me put it that way," Andrew Grant, head of oil, gas and mining for the influential U.K.-based think tank Carbon Tracker, told The Tyee. "The temptation is there of course to try to keep the music playing, but the world is changing clearly."