The Speech from the Throne in the B.C. Legislature on Tuesday briefly touched on the development of the Coastal GasLink project and acknowledged that the province’s NDP government would continue to see the project through.
“As work gets under way on the LNG Canada project – the largest private-sector investment in Canadian history – this government is seeking ways to reduce [greenhouse gas] emissions overall,” Lieutenant-Government Janet Austin read during the presentation, reports the Globe and Mail.
Hundreds of protestors swarmed outside the B.C. Legislature to block entrances in a demonstration against the project. Official proceedings were delayed.
The Guardian reports that oil giant BP will follow suit with other major global oil companies in announcing efforts to reduce its carbon footprint to reach net zero by 2050. In the same time frame, the company says it plans on cutting carbon emissions from the energy its sells by half.
On Wednesday morning, Brent Crude was at US$55.48 and West Texas Intermediate US$51.03.
Canadian National Railway Co. may be forced to shut down areas of its rail network if the protests along the Southern Ontario rail lines don’t cease, according to reporting by The Globe and Mail. Yesterday marks the sixth day of the protest against railway traffic in the country in protest of the Coastal Gas Link project, as well as the RCMP’s enforcement of injunction to allow continued construction.
Not only have Via Rail passengers been impacted by the protests, but it has also put Canadian supply chains at risk. Many trains filled with things like chlorine for the purification of municipal water and fresh produce lay dormant on the tracks.
The RCMP concluded enforcement of the injunction on Monday, following the arrests of 28 individuals. The Canadian Press has more.
In other news, Cenovus Energy Inc. announced a profit of $113 million in its fourth-quarter in 2019. In 2018, it had recorded a loss of $1.36 billion in its fourth-quarter, reports Global News.
In an op-ed for The Globe and Mail, Simon Dyer of the Pembina Institute discusses the contentious decision the federal government faces when it comes to Teck Resources’ proposed Frontier oil sands mine. Dyer notes that of a 1,300-page report from a joint federal-provincial review panel that recommended its approval, only seven pages focus on the impacts that the project will have on the climate. It also did not acknowledge whether or not the mine would have a “significant adverse effect.” Dyer says that it is the role of the federal government to make sure that Canada’s major natural resource projects match the priority of decarbonization that will be prioritized in the future. This, however, won’t happen until the country’s regulatory process can balance climate targets and long-term project goals, says Dyer.