Tuesday, November 3, 2015

Canada's Vietnam

A classic mistake of business and government is trying to recover sunken costs, in Vietnam for example Lyndon Johnson had spent so much of the "cream of the nation's youth" that there was no possibility of turning back and dishonoring those who were lost.  Well, the tar sands of Alberta are Canada's Vietnam.  Steven Harper's Conservative Party is thoroughly out and discredited for the financial and ecological morass that development of the tars sands has created and TransCanada asking for the suspension of the Keystone XL Pipeline's review is part of the retreat.  Every barrel's extracted cost to tar sands operators is so under priced at today's market that they are slowing and eventually will stop because they can't take it anymore. Building the pipeline is like building the bridge to nowhere. Approval by the Obama Administration would just force TransCanada to cancel the proposal.

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