Funding A Myth

While the petro economy in Alberta gets bashed the Tired Old Tories plow ahead with funding for the mythical carbon capture and storage. What a waste of money.And this from a government that supposedly is not in the business of funding business, picking winners and losers. Well carbon capture and storage is not just a loser, it does not exist yet. Call it funding the Emperors New Clothes instead of saving for a rainy day. Clean Coal technology is a right wing fantasy.

However, in the face of a $6.5-billion surplus shortfall and multibillion-dollar "green" spending commitments made when oil peaked at $147 US a barrel in July, Finance Minister Iris Evans said Tuesday she doesn't expect there will be anything left to save.
In fact, the province's new fiscal update revealed the heritage fund's value has fallen to $15.8 billion from $17.1 billion, due to the financial market meltdown.
Several government critics are calling the government's decision to push ahead with $2 billion for technology to capture and store greenhouse gas emissions foolhardy.
NDP Leader Brian Mason said the province should inject those public dollars into savings, not hand over seed money to help the energy industry cut its carbon footprint.
"That is just a tiny drop in the bucket for an unproven technology that essentially landfills carbon, rather than focussing on real reductions in carbon emissions," Mason charged.
Evans, however, defended the spending, saying it will help strengthen the province's environmental reputation. Alberta produces more greenhouse gas emissions than any other province.
"Our $2 billion towards our carbon capture and storage is a necessary expenditure to show the world, to show Canada, that we're serious about environment and we're going to get emissions under control," Evans said

Now if only we had those oil and gas royalties in place our provincial budget would not have taken such a hit

SEE:

Harpers Alberta Green Plan

Between Coal and a Hard Place

King Coal

Coal=Cancer

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Not Surprised

Why am I not surprised.

The chairman of the company that co-owns the Utah coal mine where six workers are trapped has campaigned to improve mine safety - but his companies have incurred millions of dollars in fines over the last 18 months.

Must be a compliance problem.

SEE:

Bump

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Bump

The owner of the Utah coal mine where miners are trapped says it was caused by an earthquake, while the seismologists are not sure.

Murray also angrily rounded on reports on Monday that suggested the mine collapse had been mistakenly recorded as an earthquake.

"This was caused by an earthquake," he said. "It was a natural disaster, an earthquake, and I can prove it."

He said the US Geological Survey had recorded the 4.0 magnitude quake as striking at a depth far greater than the location of the mine.

It could be that rare even known in coal mining as the bump which occurred almost fifty years ago in Springhill, Nova Scotia.

The 1958 Bump which occurred on October 23, 1958 was the most severe "bump", or underground earthquake, in North American mining history and devastated the people of Springhill with the casualties it took, and devastated the town: the mines had been the town's economic lifeblood, and were never reopened following the disaster.

It is not exactly known what causes a "bump." However it is believed that it could be caused when coal is totally removed from a stratum and the resulting geological stresses upon surrounding bedrock (shale, sandstone, etc. in most coal-bearing strata) can cause the surrounding pillars of the galleries to suddenly and catastrophically disintegrate, causing the shaft to collapse.

SEE:

Fox Guarding Hen House

Coal Mine Disaster No Accident

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Economist Trashes Made In Alberta Green Plan

Ouch!

Jeffrey Rubin, chief economist with CIBC World Markets, said Tuesday that governments in Ottawa and Alberta are pursuing a minimalist policy that will actually lead to significantly higher greenhouse gas emissions. Eventually, he said, Canada will have to get tougher, prodded by a growing movement in the United States to combat global warming.

Of course he is a Bay Street Banker part of the Kyoto Conspiracy.

See:

Environment

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