Wednesday, March 10, 2021

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Opinion: Alberta budget carries a bitter message for the homeless

Jim Gurnett 

For 200 years, people have experienced an emotional boost singing, “Be it ever so humble, there’s no place like home.” So powerful was the song’s sentiment, it was banned in Union army camps during the U.S. Civil War, for fear soldiers would desert for home just hearing its message


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© Provided by Edmonton Journal Two camp residents share a hug after being evicted from the homeless camp near downtown Edmonton known as Camp Pekiwewin. Police and peace officers closed the camp down on November 12, 2020. The camp was on public land and had been occupied by over 200 people since July 2020.

For thousands of Edmontonians without housing of their own, and for tens of thousands in housing that is unsafe, insecure, inadequate, or unaffordable, the song carries a bitter message. The 2021-22 Alberta budget delivers a similar message.

Canadian and Albertan governments had a proud history for over four decades, investing in construction of non-market affordable housing for those unable to find housing in the open market. Homelessness was not an issue. But since 1993, that social commitment has been abandoned. The money in the new Alberta budget is shamefully inadequate and will guarantee that more people are denied the human right to decent housing. Housing is the foundation on which we build our lives. Relationships, health, employment, and mental well-being are more difficult without it.

The budget has a 22-per-cent cut to services for people who are homeless, from $248 million in the past year to $193 million. Even with that reduction, the government continues to see support for temporary emergency shelter as an answer to homelessness, in its support of large shelters that are unable to offer anything like a secure and dignified way to live.

The real solution to homelessness is to have housing. The budget documents themselves admit at least 11.4 per cent of Alberta households are in core housing need, unable to afford the housing they need. Yet there is only budget funding for 1,400 more units of public housing over the next three years, for all of Alberta, some of that for new construction and some of it to renovate existing housing in poor condition.

The City of Edmonton alone identifies a need for 50,000 units of affordable housing, and has an immediate goal of 2,500 units. This is not a frivolous matter. In Edmonton, over 25,000 households are spending over 50 per cent of their monthly income for housing. Many of these are families where the income is small, from sources such as minimum-wage jobs, so very little is left for other expenses. They live with the weight of “pay the rent or feed the children” hanging over them every day.

Years of failing to fund public housing have created a huge deficit. Only 24 per cent of the portfolio of public housing now meets the standard of being in good condition, and six per cent is in poor condition. This means housing built to be affordable for people with lower incomes is out of use because it cannot be used.

Some people have been able to avoid homelessness thanks to income supports, such as welfare and rent supplements, but the demand for rent support far outstrips the available funds and there is a quiet move to more strictly enforce the multitude of regulations for those receiving income support, so that people are losing allowances that let them meet shelter and other needs in a marginal way.

The budget ignores the need for supportive housing. Some people have challenges such as mental illness or disabilities and will not be able to remain housed unless they are in housing with specialized support services. Funding is needed for physical facilities and dedicated staff.

Year after year, governments have presented plans to end homelessness or to end chronic homelessness in 10 years or five years or three years but without a return to the commitment of governments of the post-war 20th century to fund affordable housing, this is rhetoric, not a plan. Parkland and back-alley camps and sidewalk lineups outside cavernous temporary shelters will be “home” for too many of our community.

Over a decade ago, a major review of housing in Alberta presented many recommendations. Few saw attention. Then in the summer of 2020, a hurried new review of affordable housing brought forward more recommendations. Now the government had hired consultants to decide what to do with that report. While the COVID-19 pandemic presents greater threats to people who are without housing or in inadequate housing, there are more months of delays ahead before any action is likely. The wholly inadequate commitment of Budget 2021-22 is all we can be certain of.

The voices of those who have the powerful benefits of adequate housing need to be raised to call for an Alberta budget that recognizes the need of homes for all.

Jim Gurnett has worked in senior positions with Edmonton Coalition on Housing and Homelessness, Edmonton Mennonite Centre for Newcomers, and Bissell Centre, and now with Inner City Pastoral Ministry.
Opinion: Sub-categories of oil well abandonment are important

Bronwyn Eyre 

is Saskatchewan's Minister of Energy and Resources


In his article “Oil well cleanup too slow in Saskatchewan” (March 2), Sarath Peiris blurred important lines between abandoned, inactive and orphan wells and painted an imprecise picture of well remediation efforts in the province.

The oil and gas sector, like forestry and mining, is obligated to take into account future site closure liabilities. If every oil and gas company in Saskatchewan were to go out of business tomorrow, the total cleanup bill for their wells would be about $4 billion. But that liability, normally retired over decades, is offset by almost $13 billion in industry assets. The Saskatchewan oil and gas sector is also unique in that it pays for 90 per cent of the regulatory costs associated with site clean-ups.

In recent years, the Saskatchewan energy sector has also generated around $4 billion annually in new investment — which, in turn, generates royalties (almost $700 million last year) for hospitals and highways, social services and schools. That’s crucial context.

There are also important distinctions between inactive wells (about 40,000 in Saskatchewan), abandoned, or cleaned up wells (just under 40,000 since drilling began in the province), orphan wells (590), and who pays for what.

Inactive wells are marginal and not currently in production, but could eventually resume. For example, operators temporarily shut in up to 30 per cent of wells last year, simply to save costs. Marginal wells are also increasingly in demand for the production of lithium, used in electric cars.

Abandoned wells are plugged and cleaned up. In Saskatchewan, this is paid for not by the taxpayer, but by oil and gas companies. Even before the severe sector challenges of 2020, Saskatchewan had a strong abandonment record. In 2019, more than 2,000 wells were abandoned — an increase of 240 per cent since 2016.

Orphan wells are the result of company insolvency. In 2010, our government launched the Orphan Well Fund (OWF), which companies pay into. Since then, 669 orphan well sites have been cleaned up (at a cost, borne by the OWF, of $32.3 million). Going into COVID-19, the OWF had an unfunded liability (as in debts greater than assets) of zero. Saskatchewan has also collected $109 million in security deposits from energy companies, before they start drilling, to protect against future insolvency.

Our commitment remains clear: to ensure that every orphan well in Saskatchewan is cleaned up.

The Ministry of Energy and Resources has robust abandonment regulations in place and is currently in the process of further enhancing liability management programs. Since 2017, we have invested almost $3 million in enhancing regulation, including more staff, inspections, audit powers and penalty provisions to address liability for potential environmental damage. Our field workers run a 24/7 operation, and an anonymous, toll-free line is in place for people to contact the regulator with concerns.

The sub-categories of abandonment are technical, but important. The danger in not adequately detailing the distinctions is that confusion and clichés result.

Saskatchewan can be proud of the integrity of its abandonment and regulatory regimes, as well as its oil and gas sector, which employs more than 30,000 people.

Bronwyn Eyre is Saskatchewan’s Minister of Energy and Resources.
Meteor over Vermont exploded so "violently," it shook buildings

Sophie Lewis 2 hrs ago

A fireball traveling at 42,000 miles per hour streaked across the night sky above Vermont on Sunday night, creating a spectacular light show. The meteor "fragmented so violently," it shook buildings across the state and produced a loud boom, NASA said.

© Jeremy LaClair / YouTube screen-shot-2021-03-10-at-9-31-48-am.png

NASA said on Facebook that over 100 eyewitnesses reported details of the meteor in Vermont around 5:38 p.m. ET. It first appeared about 52 miles above Mount Mansfield State Forest, moving 33 miles through the upper atmosphere, before burning up 33 miles above Beach Hill, in Orleans County.

It said the space rock was likely a fragment of an asteroid. It was so intense, it could be heard for miles, as it shook homes and cars.

"As the object penetrated deeper into the atmosphere, pressure built up on its front while a partial vacuum formed behind it. About 30 miles up, the pressure difference between front and back exceeded its structural strength," NASA Meteor Watch said. "The space rock fragmented violently, producing a pressure wave that rattled buildings and generated the sound heard by those near the trajectory."

Witnesses also reported tremors on the ground, which NASA attributed to a pressure difference.

"Such a pressure wave can also couple into the ground, causing minor 'tremors' that can be picked up by seismic instruments in the area; the wave itself can be detected by infrasound (low-frequency sound that can travel great distances) stations," the space agency said.

Three nearby stations reported that the meteor released the energy equivalent of 440 pounds of TNT. Based on its speed and distance, scientists estimate the object weighed about 10 pounds, with a diameter of 6 inches.

One witness noted on Facebook that it sounded like "big trucks crashing" while another described feeling the house shake and hearing a "quick higher pitch shrieking."

Another Facebook commenter said they were thrilled to witness such a rare event, saying it was "extremely bright and absolutely spectacular!"

"A nice little firework, courtesy of Mother Nature," NASA said.

LIKE THE OTHER METEORITES THAT LANDED THIS PAST WEEK SUCH AS IN GLOUCHESTER UK, THE CAME FROM AN ASTEROID

  • Asteroid twice the size of the CN Tower to make fastest ...

    https://www.ctvnews.ca/sci-tech/biggest-fastest-known-asteroid-to-pass...

    2021-03-06 · Asteroid 231937 was discovered on March 23, 2001, by the Lincoln Near-Earth Asteroid Research program in New Mexico, according to NASA. It orbits the …

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    ABOUT NEW BLOOM

    New Bloom is an online magazine covering activism and youth politics in Taiwan and the Asia Pacific, founded in Taiwan in 2014 in the wake of the Sunflower Movement. We seek to put local voices in touch with international discourse, beginning with Taiwan,

    The Bitcoin Bubble Effect: Yes, We Are in a Very Early Stage

    (Opinion)

    Author: George Georgiev Last Updated Jan 31, 2021

    Despite all the attention that Bitcoin saw following all those institutions discussing it and jumping aboard, we are very, very early on in crypto’s lifecycle.

    The debate as to whether or not we are still very early on in the cryptocurrency space is one that’s been going on for quite some time. For some reason, a lot of people tend to tie it up to the current pricing of different cryptocurrencies – something, that in my opinion, has nothing to do with the bedrock of the conversation.

    We’re in a bubble. Well, at least most of us are in a bubble. And I’m not talking about prices.

    The Bitcoin Bubble

    Whether you realize it or not, we’re in a bubble. Me, you, and everyone who has dedicated a large portion of their time to the crypto sphere. And no, this has nothing to do with prices.

    We follow what’s going on – it’s our passion. We read the news, we debate on Crypto Twitter, we dive into DeFi, we ape into shitcoins with 0 prior research on the off chance that they can 100x in an instant (we’ve all done it at least once, let’s be honest.)

    We’re excited that public companies are starting to put BTC on their balance sheets, and we’re also looking forward to the launch of Ethereum 2.0. We divide ourselves into factions – those who support nothing but Bitcoin, those who support everything but Bitcoin, and all those in between.

    My point is – we are in this space. Like, truly in it. And this, at least for me, oftentimes makes me think that cryptocurrencies are going forward, that they are venturing deeper into the mainstream. But are they really?
    “More and More People Ask Me About Bitcoin” Narrative

    How many times have you seen your favorite Twitter influencer say that more and more people are asking them how to buy bitcoin? Honestly, I feel like this is something I read daily, but here’s my problem.

    First of all, I don’t bite it. I’m a social guy, I’ve got a lot of friends, and I’m perhaps the only one who’s in crypto among my peers. And to be quite frank with you, most of the time, it’s me who starts the conversation on Bitcoin or other cryptos – not the other way around. But that may just be me.

    Let’s assume, though, that all of it is true. Does this mean there are people who are looking to get into crypto? Not necessarily. I asked a friend the other day about his new Audi Q8 SUV – am I going to buy an Audi Q8? Not really, I’m just curious. There’s a huge gap between interest and action. Think about it this way – you’ve surely liked someone at some point in your life, and yet, we all know that it takes a stomach to go and talk to them. Perhaps this example is a bit far-fetched, but you get the point.

    I was talking with a colleague of mine a week back about Bitcoin’s price and why is it that people are more interested in it when it’s at ATH – you know, the “buy high” heard mentality. He told me that he had at least 30 people ask him how to buy Bitcoin back in the Covid19 crash last March, and out of them, only one actually went ahead and bought it.

    I know this is an anecdotal example, and the facts are coming below, but my point is that if we step aside from our bubble that is the crypto industry, we’ll quickly find out that the only thing that the overwhelming majority of people know about Bitcoin (let alone other projects) is its price.

    Now. Facts. This post was inspired by a quiz I saw on Twitter.

    Mr. Beast Asking his Followers About Crypto

    In case you haven’t heard of MrBeast, he’s among the most popular YouTubers, and with over 52 million subscribers, his channel is one of the largest on the platform. I’m a fan of his – the videos he does are anything but generic, his content is fun, engaging, and he’s a representative of that new wave of entrepreneurs where giving back is just as important as earning. At least that’s the impression I’m left with after following him for a few years now.

    I was very pleasantly surprised when I saw him putting Bitcoin in his bio just like Musk and Dorsey did.

    Yesterday, while drinking my morning coffee, I stumbled upon a quiz of his:

    “Do you hold any Bitcoin or other crypto? Retweet so we can get a larger sample size! I’m curious” – he asked.

    Now, I didn’t see the results immediately, though I was sure that the majority of people would have said yes. After all, I assume that MrBeast’s primary audience consists of young people due to the nature of his content. And I’ve seen hundreds of quizzes in Crypto Twitter on the same subject, and it’s always the majority owning crypto.

    This is how the results look like:



    Out of more than half a million people, about 60% said they do not own crypto. I was honestly shocked at first, perhaps because I was so sure of the results being the other way around.


    Let’s also see some other surveys. We reported back in 2020 that only 3.86% of UK’s general population holds crypto, according to an FCA survey. And the bulk of it owns less than 260 GBP worth of it. I know that it’s not necessary to own crypto to be aware of it, but still. Less than 4% sounds pretty low to me.

    In any case, my point is that we are still very, very early on. In fact, we’re so early on that most of us can’t comprehend how early on we are. At least I can’t.
    Final Thoughts

    Is all of this good for crypto? I’d assume it is. After all, it’s a nascent industry, and Rome wasn’t built in a day.

    Do we have much to offer? We sure do. GameStop, anybody? Is there a lot of work? There are years of work left ahead. Remember, centralized cryptocurrency exchanges are not the answer to what happened this week. And decentralized exchanges have a LONG way to go before they’re able to provide a simple-enough UX so that the average Joe can start using them. And of course, that’s just the tip of the iceberg – there are plenty of merits behind decentralization.

    I remain more eager than ever to see how it all pans out, and even if it turns out I’m wrong, it would surely have been an exciting journey.

    About The Author

    George Georgiev
    More posts by this author

    Georgi Georgiev is CryptoPotato's editor-in-chief and a seasoned writer with over two years of experience writing about blockchain and cryptocurrencies. Georgi's passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn't looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping. Contact George: LinkedIn




    Twitter Purge: Major Cryptocurrency Accounts Suspended (Updated)

    Twitter has suspended major cryptocurrency-related accounts en masse for no apparent reason as of yet.

    In an interesting twist of events, Twitter, the social media platform spearheaded by Jack Dorsey, one of Bitcoin’s most influential proponents, has now suspended some major cryptocurrency-related accounts.

    • Twitter has suspended numerous accounts that are related to cryptocurrencies.
    • Some of the most popular ones include those of PlanB, the creator of the Bitcoin Stock-to-Flow Model, Willy Woo, one of the most influential Bitcoin and crypto analysts, as well as Carl ‘The Moon’ Runefelt – an influential trader and crypto proponent.

    • Others include the account of the self-proclaimed WSB Chairman, as well as that of well-known influencer Koroush AK.
    • At the time of this writing, there’s no information as to why those accounts are being suspended.
    • As a precaution against this, other influencers are now beginning to turn their account settings to private.
    • Speaking on the matter was Loma, a cryptocurrency trader with over 100,000 followers, who said that his account is now private “cause Twitter bots and mass reporters (?)”
    • This isn’t the first time a centralized content-sharing platform has censored crypto-related accounts for no apparent reason.
    • Last year, YouTube was doing the same thing, suspending accounts and shadow-banning Bitcoin-related videos.
    • This comes as somewhat of a surprise, though, because Jack Dorsey, the CEO of Twitter, is well-known for being one of Bitcoin’s most influential proponents.

    UPDATE:

    • PlanB’s account has been restored. He commented on the matter:

    • Willy Woo’s account has also been restored but, at the time of this writing, his followers’ count is not fixed.
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    ICELAND IS DOING THIS
    U of A researcher pitches mineral carbonation as solution to climate change to U.S. policy makers

    CBC/Radio-Canada 
    © John Ulan/University of Alberta Sasha Wilson, a University of Alberta biogeochemist, urged U.S. policy-makers in December to look at removing mass amounts of carbon from the atmosphere by turning it into rock.

    In December, Sasha Wilson sat in front of U.S. policy-makers to lend her expertise in the battle against climate change by suggesting it's possible to remove gigatonnes of carbon from the atmosphere and turning it into rock.

    Scientists have warned that all countries must reach net zero carbon emissions by 2050 or sooner to avoid the worst consequences of climate change. The Canadian government pledged to do so as part of the 2015 Paris Agreement.

    Wilson, a biogeochemist and an associate professor in the Faculty of Science, is studying how mineral carbonation can suck carbon dioxide, a heat-trapping gas, from the atmosphere.

    Wilson and her colleagues with the American non-profit Energy Futures Initiative recommended the United States scale up research and development of mineral carbonation by setting up a large network of test sites.

    "In the U.S. there's been a lot of movement in the last year or so toward implementing mechanisms for carbon dioxide removal from the atmosphere," she told CBC's Edmonton AM on Tuesday. "There's been a lot of investment so far."

    Mineral carbonation is a natural process where carbon dioxide reacts with minerals to form harmless carbonates.

    As carbon dioxide dissolves in rain water, the water becomes acidic and dissolves rock on the earth's surface releasing magnesium and calcium into lakes, rivers and oceans.

    Those minerals react with the carbon dioxide in the atmosphere and create carbonates. Calcium carbonate is the chief constituent of limestone, while calcium-magnesium carbonate is dolomite and potassium carbonate is potash.

    While scientists have understood the process for a long time, they are now looking at using it to pull out large quantities of carbon from the atmosphere, Wilson said.

    "It's something we know works and serves as a permanent store of carbon dioxide," she said.

    There are two methods of pulling carbon from the atmosphere, one is above ground where pulverized rock, mining waste, captures atmospheric carbon dioxide. The second involves injecting carbon gathered from the air or industrial waste beneath the earth's surface.

    Underground injection is mentioned in Episode 1 of Netflix docuseries Down to Earth which Zac Efron filmed at the Hellisheidi Geothermal Plant in Iceland. The episode shows how excess carbon is diluted in water and then piped deep into the ground where it fuses with the volcanic rock and solidifies.

    Wilson says there is potential to scale up mineral carbonation to a billion tonnes a year by the end of the century, but it would require all of the waste streams of carbon dioxide and mineral wastes that Canada produces.

    "There are benefits to doing it, for instance improved soil fertilization, and we can use some of the products we make, but we need to make sure we make balanced decisions about land use," she said.
    Bangladesh TV hires country's 1st transgender news anchor

    DHAKA, Bangladesh — A Bangladeshi satellite television station has hired the country’s first transgender news anchor, saying it hopes the appointment will help change society.

    © Provided by The Canadian Press

    Tashnuva Anan Shishir, who previously worked as a rights activist and actress, debuted on Dhaka-based Boishakhi TV on Monday, International Women’s Day. She read a three-minute news bulletin, and after finishing cried as her colleagues applauded and cheered.

    “I was very nervous, I was feeling so much emotional, but I had in my mind that I must overcome this ordeal, this final test,” Shishir, 29, said in an interview Tuesday.

    Born Kamal Hossain Shishir, she said she found in her early teens that she was stuck in a man’s body and behaved like a woman. She said family members, relatives and neighbours started teasing her and she was bullied and sexually exploited.

    She started feeling that it was impossible to continue living and attempted suicide, she said.

    The worst thing that happened was that her father stopped talking to her, saying she was the reason that her family was losing face, Shishir said.

    “I left home,” she said.

    She moved from her family's house in a southern coastal district to live a solitary life in the capital, where she underwent hormone therapy, worked for charities and acted with a local theatre group. In January, she began studying public health at a Dhaka university, which she is continuing alongside her job at the TV station.

    Bangladesh officially has more than 10,000 transgender people, but activists say the actual number is much higher in the nation of more than 160 million people. The LGBT community faces social isolation, sexual abuse and other forms of harassment. Finding employment is very difficult, and many live by begging or selling sex.

    Since 2013, the government of Prime Minister Sheikh Hasina has allowed transgender people to identify themselves as a separate gender. They were given voting rights in 2018.

    Some changes are already visible.

    In November, a charity group opened Bangladesh’s first Islamic school for the transgender community.

    Boishakhi TV said it wanted to be part of the changes and has hired a second transgender person in its drama department.

    “Our prime minister has taken many steps for the transgender people. Encouraged by such steps, we have appointed two transgender people, We want the attitude of society to change through these appointments,” said Tipu Alam Milon, the station's deputy managing director.

    Julhas Alam, The Associated Press

    STOP KILLING PREDATORS THEY ARE CANADIANS
    Montana considering legislation to kill at-risk wildlife

    Li Cohen

    Gray wolves were removed from the endangered species list less than four months ago. But now, activists say their populations, as well as other endangered wildlife in Montana, may be at risk as the state considers a series of legislative bills that set out to expand trapping and hunting regulations.

     
    © Dawn Villella / AP Killing Wolves

    Several bills are currently being weighed by legislators that would impact wolves and grizzly bears, both of which have historically struggled to maintain populations in the area.


    HORRIFIC TORTURE 
    Impacting the wolves, the state's House has passed two bills, HB 224 and HB 225, which would allow wolf snaring and lengthen wolf trapping season for an additional 30 days.

    The state's Senate has passed two bills that have a more direct goal of reducing the wolf population.


    SB 314 would establish hunting and trapping regulations that would allow all but 15 breeding pairs of wolves to be killed. Under this bill, any individual with a single wolf hunting or wolf trapping license would be allowed to "harvest" an unlimited number of wolves, and would permit individuals to use artificial light and night vision to hunt wolves on private land at night.

    SB 267 would establish what the Humane Society equates to a "bounty system," in which people with hunting licenses can be reimbursed for the money they spent on hunting or trapping wolves.

    Wolf populations in Montana have long suffered from trapping and hunting. In the late 1930s, settlers had poisoned and killed all of the wolves in the state, and by the mid-1900s, wolves had almost completely been erased in 48 states. It wasn't until the 1980s that wolves were able to start establishing populations again in northwestern Montana, according to the National Park Service.
    THEY WERE IMPORTED FROM ALBERTA!!!

    It is estimated that there are only 850 wolves throughout the state, according to The Associated Press.


    © Provided by CBS News The most endangered species on Earth 57 photos


    YOU CAN REPLACE CATTLE YOU CAN'T REPLACE GRIZZLIES, WHO ROAM THE ROCKIES AN AREA MONTANA SHARES WITH ALBERTA 

    Grizzly bears, which are protected and considered threatened under the Endangered Species Act, are also at risk of being impacted by the bills under consideration. While it is illegal to kill a grizzly bear in Montana unless it is in the act of killing livestock, SB 98 — which the state Senate has already passed — would allow grizzlies to be killed if they are believed to be "threatening" a person or livestock. The bill also insists that the grizzly population in the state has recovered and "should be removed from the federal endangered species list."

    Another bill that is set to be heard in Montana's House Judiciary Committee on Friday seeks to take a more overarching approach to controlling wildlife in the state. The bill, HB 367, would amend the state constitution so that citizens would have primary control of managing wildlife populations through hunting, fishing and trapping.

    CBS News has reached out to the primary sponsors of the bills for comment.


    The Humane Society of the United States has argued that the bills are an "unprecedented attack" on the state's animals and that if passed, Montana will be joining "an outright war against wildlife."


    Amanda Wight, program manager for wildlife protection for the Humane Society, said in a statement that the "sheer number and extent" of the bills are an attempt to "usurp biologists ... and declare war on wolves, bears and sound science."

    "If these come to fruition, we are talking about a mass slaughter of wildlife, jeopardy to ecosystems, and a steep loss to the massive tourism economy and local jobs," Wight said. "This attack serves as a stark reminder of the horrors wolves in the rest of the country could face now that their federal protection under the Endangered Species Act has been removed."

    Kitty Block, president and CEO of the Humane Society, said in a February 19 blog post that these bills "are cruel and completely unnecessary, and they benefit no one but a handful of trophy hunters and trappers."

    "Wolves, bears and other wildlife these bills target are far more valuable to Montana alive than dead because they bring valuable tourist revenue," Block said. "They are beloved by many Montanans and by the majority of Americans who flock to Montana to see these animals in the wild."


    MONTANA SHARES THE ROCKIES WITH ALBERTA
    PREDATORS ARE MORE LIKELY TO BE CANADIAN THAN AMERICAN



    Just Energy files to restructure in Canada after Texas freeze hit














    (Reuters) - Electricity and gas provider Just Energy Group Inc said it was restructuring under the Companies' Creditors Arrangement Act in Canada and plans to file for Chapter 15 bankruptcy in the United States after a hit from the Texas deep freeze last month.

    The company said it also reached an agreement with one of its lenders for a $125 million debtor-in-possession financing to meet its regulatory obligations in North America, including payments required by the Electric Reliability Council of Texas.

    All services to customers across the Ontario-based company's North American operations will continue without interruption and there will be no impact on customers' bills or daily operations, Just Energy said on Tuesday.

    Last month, it raised doubts about its ability to continue as a going concern and forecast a $250 million hit from the winter storms sweeping across Texas.


    It had warned that increased demand for electricity and rolling blackouts forced it to balance power supply at very high clearing prices.

    Electricity prices in Texas soared last week as utilities scrambled to meet a surge in heating demand during the historic winter storm and prompted regulators to cap prices.

    Just Energy, which counts Pacific Investment Management Company (PIMCO) as its biggest shareholder, is the latest firm to suffer from the unusually U.S. cold weather.


    Brazos Electric Power Cooperative Inc, the largest and oldest electric power cooperative in Texas, filed for bankruptcy protection in Houston last week, citing a disputed $1.8 billion debt to the state's grid operator.

    Meanwhile, Canada's Innergex Renewable Energy and Algonquin Power & Utilities Corp, operating in the area, said they expected losses related to wind farms.

    Trading was halted in Just Energy's Canadian and U.S-listed stocks earlier on Tuesday.

    (Reporting by Arathy S Nair in Bengaluru; Editing by Shinjini Ganguli)